Why bitcoin so expensive? - page 19.

Kotone

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Quote from: Raffy11 on September 25, 2017, 08:09:13 PM

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

For our country as well once you convert those bitcoins into our currency here then basically you would be a walking millionaire and having a good and comfortable life. especially now hhat bitcoin is still not regulated and cant be tax currently here in our country

cyriljundos

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this is the only thing I can tell you depending on the type of coins you hold. Many people tend to price the bitcoin for the businessman and the consumer every day because the price of bitcoin is high because many will love it why the bitcoin is very expensive

ttlnnt

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This is due to the simple rule of demand and supply. These days Bitcoin is more in demand as compared to its supply in the market. People these days have starting holding instead of trading and investment. While this is not a such a big deal because you can also buy Satoshi in fractions. The price rise owes its origin to the currency shortage on the market. But this problem is resolved pretty much because of fractional value of Bitcoin!

sup95

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Because of the demand is getting higher and as the people who use bitcoin increased,the amount of bitcoin in the world is constant and the value will increase.

CuteBaby123

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Quote from: Raffy11 on September 25, 2017, 08:09:13 PM

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

Bitcoin is expensive because of its limited supply in the crypto market.
Also, the demand for bitcoin is booming that's why the price is also increasing.

markleal

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Quote from: Raffy11 on September 25, 2017, 08:09:13 PM

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

Hi there Raffy11! First of all, in what country you are living? I have visited countries that a dollar when converted to local money amounted to a hundred of local money. Your country could have a low fiat exchange rate thus the bitcoin conversion follows. One thing that could help is just use a single app that is popular in your country so that when you are sending or receiving bitcoins from friends the cost is almost zero and the transaction speed in almost in instant. Wink

Blakscorpion

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You know you can buy just 10$ of bitcoin ?
It's not expensive except if you buy hundreds and hundreds of dollars of it.

And by the way, yes the value of BTC is high, but it will probably be so much higher in some months. People are more and more interested in crypto and blockchain technology, and the first thing they will buy, is bitcoin, because nobody knows that there are a lot of other coins on the market...

maarx

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I suppose you meant why bitcoin value is increasing high? The main reason would be, demand for it. As many investors started buying bitcoins hoping the value would keep increasing and will receive much profits in short while. Secound reason would be the price. Bitcoin is trusted to bring a good turn over investing into it.

snipetr

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Main reason to bitcoin is so expensive is its demand. Many Governments legalise bitcoin in routine use, merchants and retailers accepted it as payment mode and as it is open to all, whole world is using it.
People using it for trading, investment and for exchange mode, and thats create demand.

ningrum

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Quote from: cybersofts on December 26, 2017, 10:15:38 AM

Bitcoin is expensive today because too many people are buying bitcoin. whenever the demand is higher than the supply the price of the commodity skyrockets. There are only 16.7 million bitcoins in circulation worldwide. how to do expect the 16.7 million bitcoins to satisfy the need of the world?

it is not known until now, whether the cause of the bitcoin price is high, so that makes us doubt why the price of bitcoin reached a very high, whether only because many are looking for bitcoin or the other.

cybersofts

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Bitcoin is expensive today because too many people are buying bitcoin. whenever the demand is higher than the supply the price of the commodity skyrockets. There are only 16.7 million bitcoins in circulation worldwide. how to do expect the 16.7 million bitcoins to satisfy the need of the world?

Weaklies

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This is the first cryptocurrency in the world. This is the first choice of people. when it come's to own in digital currency. Also people expected it will go higher. So they buy cryptocurrency. At any price they get. That's why the price keep's increasing. Also bitcoin is safe from taxes. So over all this make's bitcoin a good investment. So Bitcoin is so expensive.

gabmen

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Quote from: Lukas Tarantas on December 26, 2017, 08:24:45 AM

In September, bitcoin was not too expensive. In December, when it costs three times more - it's too expensive. And the price is born of demand, the more demand - the higher the cost.

Its the basic explanation for it really. The more people putting in money, the higher the value. The higher the value, the more people will be interested. Its a proven cycle and just this year, bitcoin enjoyed a huge spike in popularity thus shooting the price way up

ghost07

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I think bitcoin became so expensive now because they are so famous all over the world now and they got a lot of investor all over the world. They got bot elders and young investors now thats why bitcoin is very expensive and unique among all token that we have now and other who will exist soon.

Lukas Tarantas

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In September, bitcoin was not too expensive. In December, when it costs three times more - it's too expensive. And the price is born of demand, the more demand - the higher the cost.

datodota002

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bitcoin becomes expensive today because more and more people are using it. in early August when Japan has not opened a bitcoin price exchanger is still relatively cheap. Essentially more and more users of the more expensive bitcoin prices

ojherpeu

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With more and more difficult to mining bitcoin, bitcoin ecosystem and development is more and more big, bitcoin prices will certainly be higher.

Victoria Johnson

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Bitcoin is getting expensive or shall i say it is gaining it’s real value because of growing worldwide popularity,acceptance as well as it’s own characterstics/advantages.

The prices are expected to be rising in future as well because market sentiments are positive.

iqlimasyadiqa

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Quote from: Asuspawer09 on December 26, 2017, 06:43:33 AM

Quote from: Raffy11 on September 25, 2017, 08:09:13 PM

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

I don't think bitcoin is that expensive. Maybe you just need more patient to earn before you make another transaction. This thing will all be base on your strategy. Another thing is that searching for another way to convert bitcoin into cash with smaller transaction payment.

All that we can balance by earning a much larger. Currently the price of Bitcoin is very high, but all financial activities are declining, but by volume I think everything has increased and give a poisitve movement. So when all the more needed then Bitcoin will be more expensive. It is a common thing, all economies will experience the same thing as what Bitcoin can do.

Asuspawer09

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Quote from: Raffy11 on September 25, 2017, 08:09:13 PM

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

I don't think bitcoin is that expensive. Maybe you just need more patient to earn before you make another transaction. This thing will all be base on your strategy. Another thing is that searching for another way to convert bitcoin into cash with smaller transaction payment.

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