Topic: Why Does Bitcoin Have Value? - page 5. (Read 2857 times)

Hi guys don’t really know if I am posting in the right place for this but was recommended to come on forums like this to sell my betting accounts I don’t use them but I have a few fully verified accounts and I know there is a few people wanting an account I also have a pokerstars account you can have and several others if your interested please email me and we can discuss it further if you tell me exactly what you are after, [email protected] sorry if I’m breaking any rules I have no idea about site rules and such I’m just trying to get my product out there.

All these long stories are quite unnecessary, you should have just gone straight to the point of what you’re trying to say, which is utility. It’s all about trust, and people make use of what they trust. When people trust something, they invest in it without fear because they believe in it. By them investing and making use of it (utility) it will start to have value. The community is what’s holding Bitcoin , if people should stop believing and investing in it, it will fall to zero.

I understand that you mean that a miner (the possible first level seller of bitcoin) will sell bitcoins only for cash; from this you mean that how much bitcoin in circulation or participating in real economy is based on bank? I guess people may sell bitcoins NOT only for cash but also services. It means number of bitcoins which are participating in the real economy does not need to be depending on bank. I mean people get bitcoins by paying cash and by working for bitcoins as well.

You are right, I agree with you. Value depends on how people think it is value. However, the exclusively speculative value and the value of a useful exchange are completely different things. And in order for Bitcoin to have the value of a useful exchange, you need to have a very wide payment practice. The widespread practice of payments is a privilege of the government and supranational regulators of the global economy. That's all.

Bitcoin is valuable because it backed big crypto community. We give value to bitcoins. Value depend on demand and uses. If people want to down bitcoins it will go down for sure. Value is depend on how people thinking it's value.

It is strange for me to hear that bitcoin has value and scarcity. This fully, but in varying degrees, applies to any fiat currency. However, the main reason for scarcity and value is the possibility of a useful exchange, that is, an exchange for goods and services. This function is wholly owned and is in the hands of the bank. In other words, this bank determines how much bitcoin can participate in the real economy. And that’s right if you don’t want chaos. Well, if you want chaos, you are an inadequate person. That, in fact, is all.

Utility is what gives Bitcoin value above anything else. If people don't find an asset to be useful in their daily lives, they'll simply consider it to be invaluable. There's more to Bitcoin than meets the eye. Aside from its utility, Bitcoin is a decentralized and censorship-resistant cryptocurrency with a very limited supply. Every 4 years, there's a reduction in the number of Bitcoins produced by miners. This, alongside, demand from everyday people within mainstream markets, allows Bitcoin to be an extremely valuable cryptocurrency. While naysayers often criticize Bitcoin by being "made out of thin air", we all know that's not the case. The world is still unaware of the benefits Bitcoin provides, largely because of the negative reaction from mainstream media. Once people get to recognize the true power of Bitcoin, you could expect it to be a lot more valuable than what it is right now.

Ultimately, people are the ones who decide Bitcoin's price on the market. As with anything, Bitcoin's value is determined by psychology. If people believe Bitcoin to be valuable, it'll be that way for the foreseeable future. Otherwise, it'll be worth nothing. What makes Bitcoin truly unique among other cryptocurrencies on the market, is its vibrant community of developers, and individuals alike. It's always active in development, and innovation, providing real use cases for the mainstream world. Being the most secure cryptocurrency to-date, it'll maintain its value for a very long time. Just my opinion

Bitcoins have value because they are useful as a form of money. Bitcoin's value comes only and directly from people willing to accept them as payment. In addition, Bitcoin is both a decentralised currency, meaning anyone can participate in minting, and its peer-to-peer, so there are no third parties involved as you can run a full node and validate your own transactions as well. It’s the currency of the internet, free from jurisdiction and government-imposed law.

When we do talk about popularity then it would definitely talks about demand because if its unknown to the community then it wont really
get that attention.A thing that do gain value is that into something that has demand and this is where bitcoin head on.Sadly that i havent
considered this one when it was just starting wayback when im still at college where it doesnt even have that value or you can freely mine
but i totally ignore this one which really a regretful thing but its never too late to engage though because we know that this one will
still fly in the future.

I will just go with that utility. Anything can have value as long as we trust and make use of it. There were times people were making use of some fine stones as money and the reason is because they believed in it. And I believe if you're giving one of those stones today as payment you will not accept it.

I think that's the case with Bitcoin; we see it as money and we are utilizing it and that's why it's working out for us. If the community stops believing that it is money, then that's the end of it. Assuming in the beginning when Satoshi created Bitcoin people never believed in it, then it wouldn't have been here today. We all accepted it. But for gaining popularity and to increase the adoption, I guess bitcoin is temporarily having that investment feature. Once bitcoin achieve a stable prices then people will start using it as a money without any secondary thoughts about saving it .

Nope look when there are less people know about bitcoin can you compare the price from there to these days?
Look how cheap bitcoin from that time because there are less demands and only few people uses this.
And now there are million people here that supports and uses bitcoin(this is just my estimate lol) imagine how Huge we go in price growth?
this means one thing that popularity is part of the increase from price.

May be you should scratch that "scarcity" clause. I don't believe it's because Bitcoin has a little fixed total supply of 21million that gave it its price value. Nah! That isn't true. We have coins and tokens less than a million in total supply, yet their prices aren't even half of what Bitcoin price is. However, I agree with "utility" and use case of Bitcoin being a boost to its price. Need I add that what has helped Bitcoin this far is its status as the "Pathfinder" of this industry? Pathfinders always enjoy a sort of privilege 🤔

I don't think Bitcoin is valuable because it is widely known? What about the days where people don't know Bitcoin and only few knows it? what value did they saw to mine Bitcoin? you see, it's not Bitcoins popularity but utility and it's technology that brings people to use it. Without it's semi-anonymous feature and its decentralization, then people wouldn't even bat an eye.

Exactly. There are so many people who support Bitcoin no matter what. Besides that, Bitcoin is the first cryptocurrency ever created which focuses on decentralization/censorship-resistance. No other crypto compares to Bitcoin when it comes to achieving unparalleled security and reliability against third-parties. That's what makes Bitcoin truly valuable from the rest of the "pack". Additionally, Bitcoin's extremely limited supply contributes towards higher prices on the market. As long as there is a vibrant community of developers and average individuals alike, the pioneer cryptocurrency will always be a valuable safe-haven asset for those who need it the most.

Remember, Bitcoin is similar to Gold because of its organized structure (decentralized) and limited supply on the market. Other altcoins may simply become worthless over time due to the lack of real use cases and adoption in the mainstream world. As long as Bitcoin sticks to decentralization principles, people will consider it to be a valuable currency for day-to-day transactions. Just my thoughts

Moreover, it isn't enough for us to convince everyone in order to advertise bitcoin to them. Some people are relying already to credit cards and digital payments, wherein they can pay easily through their cards but not knowing that it is vulnerable too. (I do not except cryptos to be vulnerable, as it is as well, but I consider crypto as more secured). In addition, we have a very good asset to market them through explaining the perks such as crypto as investment tool. But I can see that it doesn't get well as in my experience, after I stated the word "investment" to my friend, his response was somehow related to crypto as scam. And IMO, this is the perception we first need to change in order for people to really value Bitcoin.

Hello everybody. There have already been written a lot of correct and dubious things about Bitcoin. I want to share about my first meeting with Bitcoin, which personally inspired me to engage in cryptocurrency. Perhaps many will recognize this in themselves. For a long time I did not want to get involved with various payment systems - the constant fear that I would urgently need money, but I could not quickly get my dollars back - constantly confused me. At first, I did not even attach importance to the fabulous rise in the price of bitcoin, - I thought that $ 1,200 was the limit. But it is the very name "bitcoin" that attracted my attention. I decided to just experiment, - I brought a small amount of dollars to the exchange, bought bitcoin, then, after a while I sold it with profit and quickly withdrew all the money to my credit card. I want to say precisely these simple things are valuable to the layman. The speed of cryptocurrency turnover, the ability to buy and sell bitcoin from anywhere in the world (now even in the most distant point of the world there is the Internet and the ability to spend your money on a credit card). Well, the fact that Bitcoin has both supply and demand on all exchanges is the main reason that this asset should be trusted.

In my own opinion, I will say Bitcoin have value because it is TRUSTED; this is because no one can use what he doesn't trust, that means value comes from trust. Also, extending this idea to some coins, one will understand that most coins which are not trusted probably because of their team or their use case, struggles to grow. But in the case of Bitcoin, people are comfortable holding it, trading it and so on because it has proven its worth. Another reason is because of its utility, that is, Bitcoin is solving a world problem, and by solving the problems attracts more value.

The topic has a multitude of answers, but I have never seen someone say, or mention "censorship-resistance" as to the "why" Bitcoin is value.

Newbies, the reason why the Core developers have made design-decisions to keep the blocks small, is to keep the network decentralized, to maintain the network's main value proposition, censorship-resistance.

Very true. That was the dream of Satoshi. Now, there are Bitcoin ATMs in African countries like Nigeria, South Africa, Ghana. Other ecommerce and shops also accept BTC as form of payment. With all these accomplished, Bitcoin will certainly have value. The adoption rate is organic and that is a good thing for the industry now.

In my opinion, even without reading or listening the technicalities of bitcoin and how it is made or how it is distributed, basically it all boils down to one thing - demand. Bitcoin has shown through the years that there are good things that you can get out of it. The more good you can get from Bitcoin, the more people will trust bitcoin and people will do more to make sure they will get more and use it. Demand is what gives things value.

Yes, bitcoin has value because people believe in bitcoin. The limited supply of 21M bitcoin can also be a supporting factor that bitcoin will have value for a long time. In addition, bitcoin has been used as a profitable investment asset only because of price fluctuations that continue to occur. Some people consider it a place to store values ​​"it is not recommended to maintain values" such as gold and silver.

The adoption of bitcoin as a financial innovation also plays an important role in its value, its innovation as a decentralized payment system has made people believe in bitcoin. Although bitcoin still has problems with scalability, people still believe and it is proven that bitcoin is the most adopted asset in terms of usage, value and market capitalization.