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Topic: What makes Bitcoins valuable? - page 5. (Read 757 times)

sr. member
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Merit: 387
Rollbit is for you. Take $RLB token!
June 18, 2023, 08:12:53 PM
#3
So once 21 million Bitcoin have been mined, that’s it. The game is over.
The game can be over anytime. When all 21M BTC mined by miners, if minters continue to turn their ASICs or future more advanced mining equipments on and confirm transactions, the game will not be over. Never be over if there are miners to confirm transactions and keep the network lively operating.

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Decentralization also means that anybody in any nation, except for China at this time, can purchase Bitcoin, utilize BTC, and store Bitcoin with specific, anonymous, keys.
Anyone, any entity can buy it for their own interests. You can not restrict anyone, any entity to buy it.

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Buffet doesn’t believe Bitcoin has intrinsic value. But it does because BTC investors, and the nation of El Salvador, has decided it does.
The intrinsic value comes from inputs to mine BTC. If you need to spend money for technical inputs to confirm transactions, mine blocks in order to get BTC, it would have its intrinsic value. The intrinsic value is hard to calculate because mining costs are different at different locations.

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4. Bitcoin is anonymous
Nobody wants anyone looking into their finances. Your finances are your business. Bitcoin is anonymous
The anonymity will be different if you use your coins in different ways. Even if you use CoinJoin transactions or mixer services, you will have to know using your inputs and outputs before and after the mixing process properly.
legendary
Activity: 1064
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Lightning network is good with small amount of BTC
June 18, 2023, 07:10:40 PM
#2
3. Bitcoin has become accepted as a store of value
Most individuals believe gold is a store of value. When Warren Buffet says gold has intrinsic value, he means the asset itself is valuable.
It is better you speculate the price from bitcoin price history and what is going on, for you not to buy at the wrong time which can make you wait for years again before the price that you bought it is reached and increase more to all-time-high. What I am saying is that bitcoin is a store of value in long term but not in short term investment.

4. Bitcoin is anonymous
Nobody wants anyone looking into their finances. Your finances are your business. Bitcoin is anonymous, meaning although Coinbase might know who you are, they don’t know why you made the transaction.
Which Coinbase? Coinbase.com is a custodial wallet and they also have an exchange. Any transaction sent to your Coinbase account is well known to Coinbase which can let anyone like the government or third party to know you.

Bitcoin transaction is semi anonymous or pseudonymous if you use noncustodial wallet with Tor or use a full client for privacy.
member
Activity: 550
Merit: 13
June 18, 2023, 06:44:07 PM
#1
1. Bitcoin is scarce
Scarcity leads to value. Bitcoins are scarce. Bitcoins will always remain scarce because only 21 million will ever exist.

It would take a gargantuan effort to change this number. In fact, nobody knows if it can be done. So once 21 million Bitcoin have been mined, that’s it. The game is over.

There is no way to discover, like what recently happened in Uganda, a bunch of gold in the ground.

2. Bitcoin is decentralized
One of the reasons Bitcoin holds value, and should always hold value, is because there is no single government that can get involved and print more BTC or mess with it’s price.

Decentralization also means that anybody in any nation, except for China at this time, can purchase Bitcoin, utilize BTC, and store Bitcoin with specific, anonymous, keys.

3. Bitcoin has become accepted as a store of value
Most individuals believe gold is a store of value. When Warren Buffet says gold has intrinsic value, he means the asset itself is valuable.

Buffet doesn’t believe Bitcoin has intrinsic value. But it does because BTC investors, and the nation of El Salvador, has decided it does.

El Salvador made Bitcoin legal tender. Nations back up their native currency with gold, silver, or other precious metals. El Salvador backs up their currency with Bitcoin.

4. Bitcoin is anonymous
Nobody wants anyone looking into their finances. Your finances are your business. Bitcoin is anonymous, meaning although Coinbase might know who you are, they don’t know why you made the transaction.

Anonymity makes it valuable because at no time can a credit card company cut the amount of money they’re willing to lend you. Your bank account can’t decide to deny a transaction because they don’t like what you are purchasing.

BTC transactions are in digital code. This fact makes it valuable to anybody who loves the idea of remaining anonymous when they make transactions.

Keep reading→ https://n2g.io/a002890
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