Topic: Why Bitcoin is valuable? - page 2. (Read 1187 times)

Cause People live in comtemporary have reached a consensus that Bitcoin is valuable. And when lots of people reached that consense, the value beheld by the item itself is no longer vital.For example, the currency has slight value, and it is just a paper. However, who can say they have no value today? The world is developing, the fast speed of our life stresses the urgent need for fast transaction speed. Cryptocurreny is all they need. Why is it GO VIRAL now? Partly because of unstoppable momentum, which some see as a CERTAIN sign of a bubble. In Bitcoin’s case, every rise above the $1,000 mark sparks a wave of investment frenzy. In the past December, the price of Bitcoin once exceeded the $20,000 mark. Many virtual currencies have multiplied by dozens or hundreds of times, and it is too easy to make money. Many people want to come in and make a fortune. People spread the news and spread the news, so the virtual currency became popular. In addition, the popularity of virtual currency is also driven by economic, financial and cultural development factors. Regulators in countries such as Japan have approved bitcoin transactions. The soaring stock market and the continued decline in the unemployment rate in the United States have also contributed to the fuel. These factors have made investors more eager to make high-risk investments, which indirectly led to the rise of virtual currencies.

it is due to scarcity. Itmeans? limited amount of bitcoin supply which makes bitcoins valuable. and very proven once seen from the value of the price. simple example. in 2011 the price of bitcoin was 1 dollar and in 2021 bitcoin touched the price of 66000 dollars. and it is proven that bitcoin is very high quality. from that, many investors invest in bitcoin. I am the same way. and uniquely investing in bitcoin can be done in all circles.

Right! Scarcity is the main factor that makes bitcoin equivalent to gold. Many people have already started referring to bitcoin as digital gold.

So when it comes to Bitocin being valuable, scarcity is the biggest factor when it comes to value fluctuation. Bitcoin is the pioneer and made decentralized blockchains a real thing. Mining for bitcoins involves a great deal of energy and power , and can impose a major cost to miners. With volatility and technology driven society, bitcoin actually made blockchain based transactions a reality.

One of the more reasons why bitcoin is valuable is because it can’t be forged and changed.

Bitcoin is not a thing of the future or the “next big thing” anymore. It is here, and it is working extensively to change the global financial model as we have known for the past century. It is, what can be called, the only natural progression to the form of money.

The concept of money has seen several forms in human history, since it came as an alternative to a barter system and Bitcoin is now a new form of system would is replace the real cash its questionable but it is here to remain.

Bitcoins are valuable and most liked by the masses are due to it’s decentralised nature.
Yes i do agree on the fact that it has more benefits, but due to the anonymity and decentralised nature, it’s very popular among all the section of masses.
Moreover it’s limited supply also make it valuable, as when the time passes, it’s value will increase and definitely for that reason the price will also increase.
So yes Bitcoins are so far the best digital currency, and for these reasons it’s the valuable one too.

Bitcoin is the name for a unit of a number that Satoshi Nakamoto created in their imagination - 21 million. This can't be valuable by definition given no one can utilize a number produced in someone's imagination. I mean, even if they could, everyone can use their own imagination to create whatever number they want. Bitcoin is simply a bait to scam people out of their economic resources, because it is these resources what provide utility to people. All scamers want to get their hands on those.

Imo, much of the growth of bitcoin in terms of popularity is due to accessibility. Many platforms offer investments, trading in bitcoin, and due to the acceptance of bitcoin as payment methods by many companies.

There are a million and one reasons why Bitcoin is valuable.
At first, it is the the first blockchain with a recorded Genesis onchain transaction of it's kind.
It is tagged as the modern day digital gold for which I am well aware you are informed about it.
It has a total supply of 21million which not all are in circulation. This makes it a scarce commodity and it's fractions more valuable than every other token or coin existing.
Bitcoin holders far much surpass every others existing onchain which makes it generally acceptable and some nations accept it as a legal tender.
 Come to talk of it, the transaction Is very fast compared to Fiat transaction where you would have to wait for balancing of ledger before anything comes up to you.

Bitcoin is valuable because bitcoin is believed by the big whales as an asset for the future if the big whales lose faith in bitcoin and they give up all bitcoin maybe bitcoin has no price at this time.

Bitcoin is valuable because its our future and soon the world will be digitalized throughout. So as we prefer future over past, that is why, Bitcoin is valuable. 

Despite the recent slump, Bitcoin still remains the most valuable cryptocurrency. The price of Bitcoin is determined by the supply and demand of the coin in the market. Moreover, there is a limited quantity of Bitcoin available on the market, which results in a price hike of the coin.

A quick look at CMC tells us how valuable Bitcoin has become. A lot of people trade on bitcoin as well as use it as a store of value. Bitcoin is designed provide an alternative payment system that would operate free of central control but otherwise be used just like traditional currencies. This design intent is exactly playing out on the current Ukraine and Russia war. With Putin's ban on withdrawals not exceeding $10,000.00, (https://www.usnews.com/news/world/articles/2022-03-01/putin-bans-cash-exports-from-russia-exceeding-10-000-in-value-kremlin) it means the rest of the money, for those that have more than that, belongs to the government. That means you don't really own your money. That is what Bitcoin came to disrupt, to ensure that you really own your money. Bitcoin can be purchased in fractions as you can afford. The main purpose of Bitcoin should be remembered for us to really appreciate its value.

that's why many btc miners and much sought after by people from all countries which makes BTC valuable and high demand.that's what makes BTC decentralized even though its value is volatile but historically prices and charts will always increase high. BTC is also the highest coin that controls the price of all Altcoins, If BTC Bearish and Bullish all coin will be affected

Bitcoin is valuable simply because we put a value in it.Like any other fiat currencies,we also use bitcoin to buy goods and services as a form of money.The more people use money the more it becomes valuable.And because bitcoin has only 21million limited supplies,people wants to hold more. This indicate that there is more demand than supply,which results to increase in value..And lastly more people used it as an investment and became rich because of bitcoin.

Bitcoin is valuable because decentralization is one of the main features of cryptocurrency by excluding the central authority blockchain gives more power and freedom to the user community. Anyone can help improve the bitcoin network due to its open source nature bitcoin decentralization provides a very powerful and secure system. Verifying network transactions ensures that new bitcoins are constant and predictable you have to rely on bitcoin technology which is very reliable and secure in itself.

Bitcoin is valuable as the very first cryptocurrency, but also because its design was impeccable at the foundation (though with technical shortcomings that have been resolved over time). It was designed in a finite amount and in accordance with game theory to keep the ecosystem secure, decentralized, and thriving.

Some have thus speculated that Satoshi Nakamoto was a sophisticated computer science expert with knowledge of economics. I agree that if he were alive and identified, he'd be deserving of the Nobel Prize in Economics!

^ The simplest answer is because of the demand and the supply, that's it.
BTC has no government backing and no system of intermediate banks to spread its adoption. What makes it valuable is that it allows people to store large quantities of their wealth, spend, transfer, and earn a lot of money out of investing time and effort where digital currency is possible and while the supply of the BTC is limited to 21 millions which is the more people will hoard the more BTC becomes expensive.

You guys make a point but despite the advantages of Bitcoin over fiat currency mentioned above. Bitcoin was valuable because the community believe/trust in its future and is community-driven, decentralized, and it been unaffected by censorship.
These are basically the reason the Feds was unable to shut down the Bitcoin system just like they did with e-Gold then.

Although bitcoin has advantages over fiat currencies, it is not yet clear whether bitcoin will be legalized as a means of payment. I think for now the fame of bitcoin is able to attract many investors to seek profit. by listening to stories about the number of new rich people because of bitcoin, this is what makes many new investors to double their money, even though many of them invest without sufficient knowledge