Topic: Why does bitcoin have value? - page 20. (Read 2194 times)
Bitcoin has value because it is like gold in the internet. It is also mined and people buy an expensive equipment to mined them and it is limited in supply. Since it is limited, it becomes really precious and the price of it depends on the demand from the people.
In my opinion, BTC has value to the extent that it has an interest in it. If people stop looking for it, then it will be worthless. That's just about everything we trade with. Even with the money that we use. 
Because bitcoin has many enthusiasts and investors that make bitcoin more valuable. And bitcoin is still the main world crypto currency.
Is jewelry valuable because it's made of gold, or is gold valuable because you can use it to make jewelry?
You could make a necklace from copper, but it wouldn't be as valuable as the gold necklace because gold is scarce.
You could make a necklace from copper, but it wouldn't be as valuable as the gold necklace because gold is scarce.
bitcoin for me to be one of the best investments I've ever known. in less than a year the profits earned are quite fantastic. That's why bitcoin is so popular right now.
Bitcoin has value because of its demand by people, by its popularity and how people persevered its advantages and benefits that it would bring to its users, holders and even its enthusiast. For me, the value of any commodity always depend on the principles of demand and supply.
I don't think that blockchain can be hacked EVER. The way it was designed states that you should have more than 51% of mining power in order for your "truth" to be accepted by the rest of the network and become the "ultimate truth". The raw power needed for that 51% is insane.
It looks insane, but I wouldn't even be surprised to find out that the Jihan cartel already accounts for more than 51% of the network's hashing power. It won't however be abused since the damage you inflict on Bitcoin will be 100 times worse than what you will gain from it. It's already a costly process to initiate whatever malicious attack, but if you add the damage on top of it, no one will do this.
Jihan might be a prick, but he's not that stupid to jeopardize his entire operations worth billions every year. I am however thankful for Samsung and Intel to enter the mining space and to cut through Bitmain's dominant position. It was about time for that part of the market to become less centralized. Bitmain's dominance will be over eventually, that I am sure of. Competition in this space is more than welcome.
It has. BITCOIN still has over 37% of the total coin market cap but we never know in the future if all other crypto currencies will get unpegged from Bitcoin because if Bitcoin loses dominance in the market then something like Bitcoin cash takes over then we are in a bit of a problem. I do hope Bitcoin prevails over Bitcoin cash because the Bitcoin cash developers were greedy, so not sure if it is a good thing what is happening right now because of Bitcoin all the other altcoins are down for the last five months as well which has hurt a lot of investors and the crypto market in general, not bringing confidence into this young financial market. Only time will tell of course if we can see Bitcoin reign supreme again.
It does has value because it is money in the form of digital, it is listed in the coin market and that makes it legit and controlled by demands and supply in the market.
because bitcoin includes a virtual currency that can make transactions and is supported by many investors to save their wealth to bitcoin
-I think It is popular. many people accept and trade in Bitcoin because It is recognized and accepted as a currency by many.
-Bitcoin is decentralized and limited. This is a major factor for many Bitcoin users. Bitcoin is hard for governments to trace and tax
-Bitcoin acts like an equity investment. The market value of Bitcoins has had wild swings in value and even a market cap.
-Bitcoin is a social network. The Bitcoin "community" is active and acts like other online social networks.
-There are only 21 million bits so it has the same value as gold.
Bitcoin has value because of its being in demand, its benefits given to its users, holders and enthusiast. Another thing, bitcoin is very popular and many people wanted to be part of its trading and its advantages to be offer to its holders and enthusiast.
i think bitcoin has a great value because its supply is limited.
The limited supply means the greater value.
The more demands, and limitied supply = great value more.
The limited supply means the greater value.
The more demands, and limitied supply = great value more.
Bitcoin is a cryptocurrency with nits corresponding value depending on the market the reason makes it with value because it is invested with actual money.
And yes, there is a limited number of BTC @ 21M. But what gives it value as a digital currency is that no one has been able to hack the blockchain yet. It is a well thought out protocol which eliminated the double spending problem.
I don't think that blockchain can be hacked EVER. The way it was designed states that you should have more than 51% of mining power in order for your "truth" to be accepted by the rest of the network and become the "ultimate truth". The raw power needed for that 51% is insane.
I think the main reason for the Development of the value in the bitcoin is demand and popularity but in sometimes why the value is going down because of the increase of sellers.
Yes the value is because of the benefits and uses it offers. You will not find features like anonymity with other payment systems.
Bitcoin is much more valuable to humans. So there is bitcoin's worth
-I think It is popular. many people accept and trade in Bitcoin because It is recognized and accepted as a currency by many.
-Bitcoin is decentralized and limited. This is a major factor for many Bitcoin users. Bitcoin is hard for governments to trace and tax
-Bitcoin acts like an equity investment. The market value of Bitcoins has had wild swings in value and even a market cap.
-Bitcoin is a social network. The Bitcoin "community" is active and acts like other online social networks.
-There are only 21 million bits so it has the same value as gold.
I think bitcoin has value because people think it is valuable, many people who want bitcoin make bitcoin value increasing.
the main thing that makes bitcoin have a value is because many people want to buy bitcoin for their daily currencies or investment or trading, the demand of bitcoin is the main thing that makes bticoni ahs a value, not in bitcoin only all thing that have a high demand is like this, they have a value if the people need it
Just because people are ready to change it for something else. Why invent other reasons?
Bitcoin has gained value because of its demand and its demand has increased overtime and people found it to be worth the investmenting
its supply is limited and that is the reason why demand contonous to grow
People also found that as a way of saving their assets because of it is tax fee. And government cant find it
its supply is limited and that is the reason why demand contonous to grow
People also found that as a way of saving their assets because of it is tax fee. And government cant find it
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