Topic: Why bitcoin so expensive? - page 40. (Read 6513 times)
bitcoin expensive is a subjective argument, some people said that bitcoin can expensive than no, so right now some people say that bitcoin price is not expesinve, but some people said that its very expensive because in 2013 bitcoin price is not expensive than right now. so this argument is so subjective for me
Basic economics bud law of supply and demand. Bitcoin is so expensive because alot of people is circulating the currency from gambling, mining, trading etc.
Always remember the rule "Demand is directly proportional to Price"
you will get used to the price of bitcoin time to time.
you will get used to the price of bitcoin time to time.
Many Bitcoin requests and Bitcoin supplies are scarce.
So this is what causes Bitcoin very expensive now.
Bitcoin is just like gold, even more.
It's not expensive, it just costs more than it used to. The resources required to facilitate censorship-proof transfer of value and a seize-proof store of value are quite expensive. Since the dawn of Bitcoin, this cost was paid for through inflation, new coins entering the market through the coin base reward were given to those who used resources to secure the network.So this is what causes Bitcoin very expensive now.
Bitcoin is just like gold, even more.
Many Bitcoin requests and Bitcoin supplies are scarce.
So this is what causes Bitcoin very expensive now.
Bitcoin is just like gold, even more.
So this is what causes Bitcoin very expensive now.
Bitcoin is just like gold, even more.
It is not really that expensive, can't even call it expensive. It is a cryptocurrency means that this is a digital currency it is the same with traditional currency, the more money you have the higher the amount. If you are talking about the price getting pumped every time that is simply because bitcoin is being used world wide in different transactions then every transaction needs to have the information about the transaction this is where the miners comes in. they are the ones that process this information and with this they get rewarded. Now it is said that the amount of bitcoin is limited so in every transaction the supply slowly depletes and applying the law of supply and demand you will get your answer why the price gets higher and higher.
Since the demand is very high and there are only 21 millions coins. And as it has been said before there are more millionaires then there are bitcoins. So people want to buy it but there arent that much availible. Also a lot of bitcoin have been lost so the actual circulating supply is even lower then CMC shows.
Bitcoin is so expensive if you're going to buy a coin or investing. It is the first of its kind so due to its popularity the demand of Bitcoin and Blockchain technology - and the total coins circulated is very limited so the lesser the coin the higher the value just like Gold or diamonds.
Bitcoin prices are now rising again, now the price is more expensive than I know first, bitcoin can go up because now many know him and more and more buy it, just calm down someday bitcoin price will come down again. Although not as cheap as before, but make no mistake does not mean bitcoin can not rise anymore, can even rise higher than the current price.
Because bitcoin draw the attentions of investors because they believe that the value of BTC is becoming stronger as its continue to increase its price and many are holding BTC. it is simply because it just follow the law of supply and demand while higher the demand the its valuable.
Basically, Bitcoin is really expensive is also because of a high demand on the market. It is because of us. It is because of the people who chose to use bitcoin as their internet currency. Bitcoin really have a potential, and I'm not going to be surprised if Bitcoin would hit that 10k mark because the support of the people to this Internet Currency is indescribable.
That's because there's so much demand for it if it wasn't as popular it would be much cheaper expect it to keep going up the more people who get interested in it.
Bitcoin prices are now rising again, now the price is more expensive than I know first, bitcoin can go up because now many know him and more and more buy it, just calm down someday bitcoin price will come down again. Although not as cheap as before, but make no mistake does not mean bitcoin can not rise anymore, can even rise higher than the current price.
Because bitcoin draw the attentions of investors because they believe that the value of BTC is becoming stronger as its continue to increase its price and many are holding BTC. it is simply because it just follow the law of supply and demand while higher the demand the its valuable.
It is purely the laws of supply and demand although 2,5% does seem very high - unless you went via a Bitcoin ATM, which does charge high fees.
In general the larger the local Bitcoin exchange the lower the fees - as the economics means they can make more money by higher volumes. Here in Australia I pay 0.85% for AUD to BTC (it was 0.65%). There are others that charge 1%.
If you are doing a very large exchange there are niche specialists that are Over The Counter (OTC) players that exchange larger volumes away from the main exchanges to avoid a marked influence on the market exchange rate.
I am sure if hunt around you will find it cheaper (eg (but not a formal recommendation) Coinjar, an Aussie company) recently moved their HQ to London. Just do your due diligence on any new exchange you do decide to use - as 1/3rd of all exchanges have been hacked…
In general the larger the local Bitcoin exchange the lower the fees - as the economics means they can make more money by higher volumes. Here in Australia I pay 0.85% for AUD to BTC (it was 0.65%). There are others that charge 1%.
If you are doing a very large exchange there are niche specialists that are Over The Counter (OTC) players that exchange larger volumes away from the main exchanges to avoid a marked influence on the market exchange rate.
I am sure if hunt around you will find it cheaper (eg (but not a formal recommendation) Coinjar, an Aussie company) recently moved their HQ to London. Just do your due diligence on any new exchange you do decide to use - as 1/3rd of all exchanges have been hacked…
bitcoin is very expensive because the demand for this currency is high and due to this high demand people are willing to purchase this on reasonable price to get the profit margin on this crypto currency in the future. Therefore bitcoin is very expensive because people keep it for future to take the advantage of high price in the near future.
Bitcoin prices are now rising again, now the price is more expensive than I know first, bitcoin can go up because now many know him and more and more buy it, just calm down someday bitcoin price will come down again. Although not as cheap as before, but make no mistake does not mean bitcoin can not rise anymore, can even rise higher than the current price.
Bitcoin is the first currency that cant be controlled and you cant reproduce, making it something that can be scarce if the whole world got into bitcoin. But it wont go scarce since we have satoshis. if you think its expensive now, wait when 1 satoshi is 25 cents each. This will happen in the 10 year time frame or faster.
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.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.
Bitcoin is so expensive because of the currency. And as of now, people who using bitcoin saying that soon bitcoin will become so very very expensive. Because some countries accepting now bitcoin as money or payment in buying things. And if the number of people higher, there is possibility that the value of bitcoin will become higher.
Because now there are a lot of investors. And their number is likely to grow.
Bitcoin become expensive because the supply is very limited and the demand is very high now if they will not adjust the pricing of bitcoin they cannot provide enough supply which will sooner kill bitcoin market.
because its a first cryptocurrency
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