Bitcoin network gives us the ability to send any amount of money anywhere on the planet, instantly, for no fee, without having to trust a third person. That's the value of bitcoin, and people are willing to pay a price for that value (ability).
http://www.notbeinggoverned.com/gave-bitcoin-value/
Topic: Where is the value? - page 3. (Read 2611 times)
What gives Bitcoin its value?
Supply and demand?
Surely, as more merchants accept Bitcoin, more bitcoin gets sold for $$ driving the price down. The lower the price, the more people will panic and sell their BTC or trade it for goods, thus reinforcing the cycle.
I am getting to the point now where I am so tempted to sell my own BTC. I don't normally waver on things like this, I believed Bitcoin had a bright future, but my belief is shaken now.
I can't see anything in the near future that will increase the demand side of the equation....
Supply and demand?
Surely, as more merchants accept Bitcoin, more bitcoin gets sold for $$ driving the price down. The lower the price, the more people will panic and sell their BTC or trade it for goods, thus reinforcing the cycle.
I am getting to the point now where I am so tempted to sell my own BTC. I don't normally waver on things like this, I believed Bitcoin had a bright future, but my belief is shaken now.
I can't see anything in the near future that will increase the demand side of the equation....
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