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Topic: Why does bitcoin have such a big value/currency - page 2. (Read 498 times)

sr. member
Activity: 1638
Merit: 300
Why does bitcoin is such a big currency when converted in real money ?

I think the common reason why a currency has a higher value than other currency is the demand. There is also the thing that when a currency is mostly traded, it's price increase bit by bit.
sr. member
Activity: 448
Merit: 250
The only thing that created the value of bitcoin is the supply and demand, just like it happens with gold, silver, cooper, iphones, samsung galaxies.. etc, it happens with everything that has a huge demand.
It nobody buys bitcoin, then the price would go to zero because everybody would be trying to sell like crazy.
The samme applies to the iphones, if nobody buys them, the price would be zero because they would be trying to give us a better price, but everybody is buying them, and that is why they are increasing the price. The same applies to bitcoin, if more people buys, then the price would be higher than before.
legendary
Activity: 2383
Merit: 1551
dogs are cute.
Why does bitcoin is such a big currency when converted in real money ?
In terms of monetary value? Yes, bitcoin is considered to be a big currency, because of the demand and supply forces in the market. More and more popularity and increase in the number of users. More altcoins going down the drain which creates a need for a good dependable crypto currency.
sr. member
Activity: 686
Merit: 257
You can relate this to the law of supply and demand. The price of Bitcoin is determined by the market (Buyers and Sellers). The price is high because the buyers are willing to buy at this price. The same logic applies when there are bad news and sellers are willing to sell at lower price, Bitcoin price will go down. 
newbie
Activity: 12
Merit: 0
Why does bitcoin is such a big currency when converted in real money ?
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