Topic: Why Does Bitcoin Have Value? (Read 2851 times)

Bitcoin's value can only be determined by those people who had been working so hard to earn and get more profits. To some people who knew less about it, it was definitely nothing to them.The network got developed based on trust, though it hasn't got value in the beginning slowly the increase in demand gave value to it.

Exactly. People trust Bitcoin because it's decentralized and outside the scope of central banks and governments alike. The pioneer cryptocurrency empowers people to gain control of their financial lives like never before. Without the middleman, the average person will truly own his/her money. That's not possible with Fiat, as it's centralized and heavily manipulated by mainstream governments. Scarcity also contributes towards the value of Bitcoin in the mainstream world. With a very limited supply of no more than 21 million coins, Bitcoin becomes similar to Gold in every way. Of course, there will always be haters and/or critics saying otherwise. But the facts are there, as Bitcoin continues to grow into a "force to reckon with".

Nonetheless, each person has a different perception about Bitcoin. Some consider it to be extremely valuable, while others consider it to be worthless. The market speaks for itself as Bitcoin reaches new ATHs (All-time-highs). It's up to you to decide whenever you want to join the revolution or not. As long as Bitcoin has loyal supporters behind it, it'll be able to stand the test of time. Just my opinion

Those who wonder how bitcoin gained value and got so much demand can read this blog.

https://coinsfera.com/blog/how-did-bitcoin-become-so-valuable

P.S: If you are wondering why Bitcoin is gaining value for the current time, the likely explanation may be the effects of the halving in May and the growing interest of investors.

In my opinion, Bitcoin has value. Because Bitcoin has earned the trust of people, it has demand. It has a limited supply. Also, it provides security. People want to hold their assets securely, and Bitcoin ensures that. If you hold your assets in Bank, your fund can be frozen by the Bank. But Bitcoin can't be frozen. That's why it has a high demand among people. So, Bitcoin will have value unless it loses the trust of people. This term goes with anything in the world. Demand generates value for anything.

One of the unique qualities that make up a nation is currency! It's as significant as it's flag or coat of arms as it represents the indigenous peoples means of exchange. Until Bitcoin came along in 2009, this is what the web very much lacked. A currency that could be used all over the web and that's where Bitcoin stands today.

With the global population being too high even though, it's just a portion of it that are technologically literate or enabled, Bitcoin is doubtedly not going to be enough to be distributed to every person according to their demands hence, the law of demand and supply sets in.
The more scares the commodity, the higher the price and vice versa. This is what determines the value attached to bitcoin as we have it today. And it's not done appreciating just yet.

Precisely. These, among many other reasons, explain why Bitcoin is considered to be a valuable asset/commodity/currency by people in the mainstream world. The decentralized and censorship-resistant nature of Bitcoin, has lead it towards non-stop success. I'd imagine that if Bitcoin was centralized, it would've been worthless by now. Thanks to the ever-increasing community supporting Bitcoin, it has become a force to reckon with. Despite many other cryptocurrencies' attractive features, Bitcoin has been able to stand on its own by serving as a store of value just like Gold. It'll never die, as long as it focuses on the principles of decentralization and censorship resistance.

Nonetheless, it's the people who determine Bitcoin's true value on the free market. That's largely because there's no central authority in control of Bitcoin's supply. There will only exist 21 million coins across the Blockchain, making Bitcoin extremely finite. This mimics one of the many properties of traditional Gold. Naysayers will think otherwise, as they don't want to see Bitcoin succeed in the mainstream world. But it's been shown time to time that Bitcoin is impervious to mainstream events. As long as this is the case, Bitcoin will remain a valuable cryptocurrency for the foreseeable future. Just my opinion

Exactly. Bitcoin is the best invention in the course of human history. Thanks to Satoshi, we can now enjoy using true sovereign money outside the scope of mainstream governments and central banks worldwide. It's Bitcoin's decentralized and open source nature which gives it value in the mainstream world. Take that away from Bitcoin and you get nothing but a worthless, centralized database subject to manipulation and fraud (similar to how Banks operate today). Considering how far Bitcoin has reached since its inception 11 years ago, it's unlikely it'll go away anytime soon. My guess is that more people will tend to value Bitcoin as an alternative to traditional Gold and mainstream Fiat. The scarcer Bitcoin becomes, the higher its price will be on the market. If everything goes as planned, Bitcoin could easily reach $1m in the future.

Nonetheless, what makes Bitcoin truly valuable is the community supporting it every step of the way. Constant development, and innovation is what has kept Bitcoin on the top spot in market cap for a long time. No other cryptocurrency can outmatch Bitcoin when it comes to delivering rock-solid security and reliability to your funds. While many altcoins have been a victim of 51% attacks and other undesired situations, Bitcoin has been practically untouched by external forces. As long as it's the most secure cryptocurrency in the world, prices will continue in an upward trend. The future is bright for the pioneer cryptocurrency, as it mimics Gold in every way. Just my opinion

I think the answer is very simple, it's about supply and demand. So Bitcoin has a value and a certain price according to the ratio of supply and demand in the market. As long as there are users who pay for Bitcoin, trade with it and use it as a payment method, Bitcoin's value will continue to rise.

Bitcoin's price is rising due to high demand but it does not last forever bitcoin is not stable it has high value when the investment is high depending on the demand of the market if the amount of investment is low the price of bitcoin will start falling. The crypto market usually goes up depending on the price of bitcoin while the prices of other currencies are rising due to the rise in the price of bitcoin the demand for the currencies is lower due to its high value.

Everyone sees bitcoin with different view, with their own valuation. Why bitcoin has value. Although various types of cryptocurrencies that adopt technologies such as bitcoin have emerged a lot, such as Litecoin, Dogecoin, etc, but bitcoin’s status is the ancestor of all existing cryptocurrencies and blockchain technologies.
Bitcoin has a system that presents revolutionary mechanisms for solving many things, especially in the financial world.
The increase in the price of Bitcoin in the cryptocurrency market reflects bitcoin is getting special in the eyes of many people.
That’s why public confidence is growing that Bitcoin has value. Apart from that, there are many other factors that cause bitcoin to have value. It’s just a small part of it.

Bitcoin has value because of Demand, and a limited supply,
this is the same as Gold, Gold also has a limited Demand and supply, if you compare it almost the same,
especially if Bitcoin becomes popular in the world and the more demand, the price will soar.

Bitcoin has value in my opinion because it's limited and every purchase and sale is decentralized.
So that bitcoin can maintain its value.

Truly, Bitcoin has an incentive regardless of the high variance in cost.

Clients can move computerized resources in fast time and complete security. Anybody can be the proprietor of this digital money. You need not complete KYC for having a bitcoin wallet. The bitcoin move charge is extremely modest. The exchange happens with no fringe. This is only the start of the crypto period. There are bunches of astonishments looking out for the market. On the off chance that other cryptographic money needs to rule the market, at that point bitcoin will even now be acknowledged to purchase sell crypto.

Am I the only one that doesn't like this answer? The fact that bitcoins can only be 21 million doesn't answer on why it has value. I can create a coin and name it valuecoin, but it doesn't mean that it has value. OP's question is why it has value and you answer him that bitcoins are `few` with an increasing price. He knows it. As for the gold, it doesn't have value only because it has an intrinsic character that others assets don't. It is valuable, because except from the ability to store value, it is one of the greatest metals to make everything look better. I remember Warren Buffet talking about Gold and Bitcoin, he mentioned that bitcoin doesn't help humanity at all.

Anyway to answer the question of the thread, bitcoin has value for many reasons. These are the main ones:

• A currency that no one controls. This is a huge step for mankind. For hundreds of years, people were using a medium of exchange that government controlled and forced its use or precious metals. Why huge step? Because for the first time someone created something that has no owner and especially, a currency.
• Really fast transport of value. With bitcoin you can transfer value within 1 second. Try sending 0.769 grams of gold from America to Europe. It won't be easy for you to cut 0.769 grams from a bar of gold you keep in your basement. Extra hours to deliver it to a different continent.
• You can keep your funds safe. The only thing to do is write 12 words on a piece of paper. The good part is that it doesn't matter the amount of value you "carry". If you have 1 bar of gold keep it on your basement. If you have 1000 bars of gold where exactly will you keep them? It will be suspicious. On bitcoin, though, it has no difference whether you have 1 or 1000BTC.
• Anonymity. This helps mostly on the dark web, I believe, since people that care about their privacy and are not against the law aren't that many. Imagine how easy is drug purchase since there are no middlemen to check sender and receiver.
  

So basically bitcoin is valuable, because of its ability. Since it has a fixed number of units, it makes only demand responsible for the price.

I want to say, though, that it isn't easy to understand how a simple number on a computer corresponds to $10.000, but if you find out why it must have a value, even of 1 cent, then you understand that it can make it to $10k if many people want it.

of course Bitcoin has value because Bitcoin was only created 21 million with an increasing price and everyone wants to own it, it certainly has value, let's see why gold has value because it has an intrinsic character that other assets don't have. Gold is a valuable item that anyone dreams of, and Bitcoin is now so valuable because its price continues to increase.

saving us from 3rd party,and giving us the chance to have our financial freedom ,these are the reason why Bitcoin has value.
and other than that is the safest way of paying transaction.
specially this pandemic when the people are too afraid holding fiat,so Crypto are there to help them.
but ofcourse only those who have a country that supported Bitcoin.

That is a good point i am reading , bitcoin using make sure that it is my own bank and we can easily make any transaction without going any where .It also make our life so easy and save our time as well with modern life .Next world will be dominate by Bitcoin for sure .

Because it is both scarce and useful as a medium of exchange.
It has the top features and characteristics of trustworthy hard money: durability, portability, divisibility, uniformity, limited supply, and acceptability/fungibility.
Bitcoin is both digital gold and digital cash. It is better than sex and probably the best new invention since sliced bread.

Scarcity and durability 

Well said. I guess this summarizes why Bitcoin has value. Naysayers will tell the world otherwise, as they hate Bitcoin. You'll end up with comments like "Bitcoin is made out of thin air" or "Bitcoin is a scam". But Bitcoin's widespread success thanks to its decentralized and open source nature has proven them wrong. Ultimately, people are the ones who determine the price of a Bitcoin on the market instead of a central authority. With a deflationary model built right onto the protocol, Bitcoin may never become worthless. The pioneer cryptocurrency presents a greater advantage against traditional Fiat in this regard. As the crypto/Blockchain space grows, more people will use Bitcoin in their daily lives. Decentralization is what makes Bitcoin truly valuable above all else. Take that away from Bitcoin, and you'll get nothing more than a worthless coin that mimics traditional banking.

Nonetheless, Bitcoin is known to have an extremely-volatile nature. In other words, the pioneer cryptocurrency is highly unpredictable. While its price continues to go up on the market, it's not a guarantee that it'll always be valuable. As long as people demand Bitcoin in the mainstream world, everything will be fine. Otherwise, Bitcoin will slowly lose its position until it goes all the way down the drain. Just my thoughts