Topic: Why Does Bitcoin Have Value? - page 3. (Read 2857 times)

at the first time bitcoin was created bitcoin had no value. bitcoin is not as famous as it is now,
over time bitcoin has grown and the price is getting more expensive, many people want to invest in bitcoin at a high price. so it is possible that bitcoin is getting more and more expensive.

When something is in high demand, automatically it gets value. This is how bitcoin has got its value, another thing is the technology itself served as an exchange of value. A fine example to state the demand is the guy who threw his hard disk carrying 10000 btc on the scraps. By then it was worth nothing, little by little the demand gave more and more value.

Bitcoin has value because people see that the technology deserves value, as you said based on your research that decentralized technology, security, transparency etc all deserve its value. As time goes by, users see more on the side of the asset which many say that bitcoin is an example of a future currency because of this technology. The increased value is based on the many developments of these technologies that make users carry out mass adoption at certain events of the time.

Bitcoin has intrinsic value because it is digital commodity money ...


That's all I have to say.  

That is quite true BUT studying Bitcoin to review its movement is actually a good study since that is what actually traders do. I mean, they are not wasting their time watching Bitcoin since they know on when to sell their Cryptocurrencies at the right time. Bitcoin's system is so good that it really gained popularity internationally and investing on it is actually a good idea.

I am not saying your opinion is wrong, but I think you are somewhat mistaken for equating two generation of computer between old and new with bitcoin. I dont think the bitcoin price will depend on other altcoin and so far there has been no impact on the price of bitcoin at the time the new altcoin are created and dont have them abandoned by the community.

Some of the things that make bitcoin valuable in my opinion are:
1. Limited supply
2. The existence of supply and demand
3. Traded in various local or global exchange

Bitcoin's value also depends on the demand of the people that uses it since its starting value was not that high and once it gain popularity, Bitcoin's value really skyrocketed. Everybody must have remembered the guy that used Bitcoin to buy some pizzas and that basically presents on why Bitcoin has value. Bitcoin is classified as a Cryptocurrency which can be used to pay for goods and items. Though people thinks its limited but I think that it has an unlimited supply in which gaining it depends on how we can earn it.

Media actually plays a vital role on why the price of bitcoin is significantly high in the market. With its scarce supply and decentralized nature, people are always speculating that one day, its price may skyrocket given the number of times it already happened in the past. With this in mind, people are willing to purchase bitcoin even though they know little about its actual use and history.


I do not think that bitcoin is a good store of value despite its high price. Due to being digital, its intangible and it is also volatile in nature. Its price may either increase/decrease significantly in a short amount of time.

Bitcoin has value because it is a great store of value. It's similar to digital gold, only gold is much harder to store, secure and move around than gold.

Bitcoin is a digital currency known worldwide in the crypto world. It is faithful, its supply is limited. Bitcoin is gaining acceptance all over the world and the demand is increasing day by day and its price is also increasing. In the meantime, some countries have legalized bitcoin transactions; Hopefully in the future the rest of the world will also legalize Bitcoin; Then I believe that the value of Bitcoin will increase further.

Agreed with some parts, due to the age of the market, total marketcap and the whales, bitcoin moves on its own path mostly regardless to the other markets. But, the reason of why bitcoin have a price is the huge demand, same as the all other markets and products. Because of the demand to the new technology, privacy, safely, being easy to use and man other reasons bitcoin got huge demand and this will make the bitcoin to have a price.

maybe my opinion is different about why bitcoin has value
in my opinion bitcoin or altcoin has value because the cryptocurrency and fiat communities are very different where fiat has a definite community, its a country that is different from cryptocurrency, cryptocurrency gets free supply and demand everywhere
but cryptocurrency can lose its value at any time if the community leaves it like the first generation computers abandoned by the community due to the release of the latest generation computers that fix flaws in the first generation computers.
this is my opinion on why bitcoin has value

Exactly. Crypto's main purpose is to be an alternative financial system outside the scope of central banks and governments alike. Bitcoin, being the first cryptocurrency in existence, has enjoyed ever-growing popularity within the mainstream world. The fact that Bitcoin has a limited supply and it's the most decentralized cryptocurrency in the world, gives it value. People will find any cryptocurrency valuable as long as they find it useful for mainstream payments. It's no wonder why other prominent cryptocurrencies besides Bitcoin (such as Ethereum and Litecoin) are still valuable these days. Take away decentralization from Bitcoin, and you get a worthless coin with no purpose or future in the mainstream world.

Given that Bitcoin provides the ability for anyone to "exit" the current financial/monetary system, it's very unlikely it'll lose its value in the long run. Anyone who's starting on the world of crypto/Blockchain will "topple" with Bitcoin as it's the cryptocurrency that started it all. Naysayers will say otherwise, since they're too tied to Banks' dominance in mainstream finance. But facts speak for themselves. And so far, Bitcoin has been doing a great job as a resilient and censorship-resistant cryptocurrency that resembles Gold's scarcity in every way. As long as Bitcoin stay this way, it'll continue to be a valuable asset/currency on the crypto market. Just my opinion

Bitcoin actually moves at a pace of its own. It is better not to review its movement. You won't find any perfect cool edges. Bitcoin will run on its own system. There are a lot of investors around the world who have invested in Bitcoin and are encouraging others to invest their money in Bitcoin. You have to have confidence in Bitcoin so that everyone can see the benefits very soon.

I'm totally agree with your thought. Economists say that We all know that now the demand of BTC is much higher, and its demand is increasing day by day. This is why the price of BTC is so high now. If ever there is a cryptocurrency that will become more popular than BTC then the demand for BTC will be decreased, which is never going to be happened. and if the demand for BTC will decrease then the price of BTC will also go down.

Yeah, its the demand that putting the value in bitcoin if there is no demand in bitcoin market price is going to go zero or if there is a high demand market price will increase.

Bitcoin is just a digital currency so there is no physical coin or something, it's more like of supply and demand thing that's giving value to it. So the more investors the more demand in the market price and the higher the value of bitcoin.

People and traders are putting the value of Bitcoin, they want to buy it and the prices are constantly changing>
you can make a profit on the same day and withdraw your profits.
you will buy rich and back to invest. invit your frind and family, they will invest and both scarcity and utility.
hard limit of 21,000,000 bitcoin units it multiply your profits.

Gold is not just store of value, it has use case, and in fact it had use case before it was used as money. Bitcoin cannot be just store of value, nothing can be JUST store of value as value comes from use case. Bitcoin is a system which was created to solve major problem that exists with existing banking and monetary system:

1. to replace central banks from having monopoly of supply of money by creating decentralised creation of money (good money) which is limited in supply and cannot be faked.
2. to replace centralised payment system of banking institutions, which are acting as intermediaries. Bitcoin system is natively Peer-to-Peer payment system, why its called P2P Digital Cash, and it needs no intermediates and there are great benefits to having such system used globally by everyone.

Bitcoin BTC is a blockchain that was original implementation of this Bitcoin system, and has since been hijacked by bankers through Blockstream corporation who took control of BTC code and prevented it scaling (by not allowing increase of capacity of the Bitcoin system, which is called on-chain scaling)... which gave need for all the true Bitcoin system supporters and its ecosystem, to create a split in the chain (a hard fork of the blockchain) creating 2 separate blockchains... which are now Bitcoin Core's version that took over BTC ticker, and Bitcoin Cash that uses BCH ticker.

Like anything in life that has value, it is something people will be willing and open to offer a certain amount for due to its supply and demand ratio. Bitcoin is a digital asset used for several purposes and as such, people are willing offer a certain amount in exchange for bitcoin making it valuable. Of course, its value depends on how much people are willing to pay for it. Also, the supply is another determinant factor for why it is valuable.

There are a lot of alternatives of Fiat money, for example visa, PayPal etc. But the reason of popularity of bitcoins and other cryptocurrencies is that they provide us decentralized methods of payment while remaining anonymous this is the reason why the Crypto is popular amongst the masses and is having value that is always increasing. People are also using Crypto to hide their wealth from prying eyes.