Topic: Why Does Bitcoin Have Value? - page 6. (Read 2851 times)

I am fed up with people always reposting this topic and trying to twist it in their own ways. Like who doesn't know that bitcoin's value comes from the trust we have in it? The community are the ones that keeps it running. We create the value for bitcoin like how we create value for gold. No big differences. I buy bitcoins with the intention of finding another buyer who will be ready to pay the price higher than I paid. Exactly the same way, this world is working.

Well, just imagine that Satoshi Nakamoto created Bitcoin and no one asked about it not to talk of investing their money in it, then do you think that it would grow to this extent? No it wouldn't man. So, this is topic is really simple and let's stop twisting and prolonging everything, please.

The price of any thing depends on its needs. When Bitcoin was created, it didn't have much value in the beginning. Gradually, as its use increased, so did its demand and value. Bitcoin is associated with other cryptocurrencies. There is a demand for Bitcoin and other cryptocurrencies; For which they have value. Bitcoin is currently being used extensively as a reliable exchange medium for wealth saving purposes. Hopefully in the future the use and demand of Bitcoin will increase further and its value will also increase further.

Undoubtedly, for me, bitcoin is of great importance and I see it as a certain value, but I also fully agree with Your opinion. Without a community and interested users in bitcoin, its value will be equal to 0.

Bitcoins have value because they are useful as a form of crypto market. Bitcoin on a large scale as a suitable choice of exchange, Bitcoin will enjoy a rise in value. As with all currency, bitcoin value comes only and directly from people willing to accept them as payment. Bitcoin offers an efficient means of transferring money over the internet and is controlled by a decentralized network with a transparent set of rules, thus presenting an alternative to central bank-controlled fiat money. In the case of Bitcoin, this can be measured by its growing base of users, merchants, and startups. As with all currency, bitcoin's value comes only and directly from people willing to accept them as payment.

To make it more simple, bitcoin has a value because bitcoin is used to store a  value basically it tackles the demand and supply law that determine its value in timely manner. If you guys are wondering why the price of  bitcoin is incredibly high it is because the mass is using it as a form of investment rather than a digital currency, you'll barely see people using bitcoin to buy goods these days not unlike the time that we have back then where bitcoin worth just a couple of bucks.

Bitcoin adoption is a free market process. There is no guarantee of exponentially increasing adoption.

To make it simple, bitcoin has value because people can use it to buying or exchanging goods. It is a digital currency that we can use and we value as a means of payment, we can buy things that we need in life and it is also convertible to fiat that's why it has a value.

Everything will have a value but it is depend on the community itself. Before money launched the human used a barter system instead of money even in some place use the stone as mean of payment because they are thinking that the stone have a value. This is same with bitcoin, the people look bitcoin have a value because its system which similar with money moreover with the need of digital currency that need by most people then bitcoin is deserve to be called as mean of payment.

As long as Bitcoin provides use cases for the mainstream world, people will either value it as "digital gold" or "digital money". While most people assume that Bitcoin is "made out of thin air", that's not really the case. Miners use real world resources (like energy and physical hardware) in order to "mint" new Bitcoin. The fact that the pioneer cryptocurrency has a deflationary model, tells us that it should become more valuable over time.

I believe that the true value of Bitcoin consists in its decentralized and censorship-resistant qualities than anything else. Take those away from it, and you'll get nothing more than a worthless coin. What matters is Bitcoin's usefulness as a decentralized alternative to existing Fiat. People can use Bitcoin as an "exit route" in case the world's monetary system collapses in its entirety. With developers working hard day and night to make Bitcoin stronger than ever, nothing can go wrong. Remember, anything can have value as long a people believe it that way. It's more of a psychological matter than anything else. Just my opinion

I'm partially agree on this, yes bitcoin was created using electricity maybe that counts as a intrinsic property that might define that bitcoin has a intrinsic value, however unlike any other asset like land, gold, diamond their intrinsic value is determined from sizes, metal property, and economic costs. In plain picture, bitcoin has a value because we are putting value in it (money) we are storing a value in it.

Bitcoin are not widely accepted (e.g. at service and commercial outlets) or legal means of payment. They are not issued and guaranteed by state central banks. This means that business entities or individuals are not obliged to accept payments in this type of currencies, even if they have previously accepted them. For some time it has been laughing and as he wrote Zeke_23 Bitcoin begins to take over the role of money and it is power ...

Well, I really cannot deny that the value of bitcoin is created by its features and usefulness, it offers a new form of investment and currency, and so it deserves a certain value but perhaps, we as users use bitcoin to invest, we want more, hopefully bitcoin will grow faster in value, instead of forcing bitcoin to stay within a value limit, we automatically generate the value we want. It has been a successful thing so far, the price of bitcoin increased rapidly and without any barriers, the government did not participate in the process, that's one thing that makes bitcoin's high value

Not only that, but bitcoin can also solve fiat shortages related to the limited number of transactions and its ease without limitation of area and time. The decentralized system also attracted the interest of most people who wanted "freedom" and "transparency". The existence of market interest determines value. The rest, many people are still doubtful because it is full of pros and cons, trust-less. On the other hand, the offerings of technological advances are very promising, so this is a good niche to explore.

Bitcoin has value because bitcoin can also do what money can do. It can use as a form of payment where people find it useful in terms of buying or selling. Its value can be determined depends on how many people are willing to accept it as payment, the more people adopt it, the more its value will increase.

Anything with value means it has a level of demand for mankind. Whatever is of demand has an important role to play in the wake of life. Bitcoin is a classical example because it solves a revolutionary payment system. Unlike the old payment method with paper money, Bitcoin offers anonymous transactions which helps users to purchase or send funds across borders without limitation.

Obviously bitcoin have value because everyone accept bitcoin.they are big business in bitcoins.when you take restricted complete in the day by day rising identity value will take off higher.I am positively about bitcoin consequences that as numerous intimates comes in this grassland fee will turn boom high. One day bitcoin value will be extremely massive at that moment a person thinks.
So bitcoin is riches of future,money of internet,money of new generation,money of elegance that why bitcoin experience value.

Bitcoin really obtains their value from the fact that there is limited supply, heightened demand, and utility (for investments or transaction purposes).

Unlike major currencies around the world where the central banks have in place a form of monetary policy to control the supply of currency in circulation, bitcoin and blockchain is wholly dependent on a decentralised network whose performance is totally reliant on market forces.

Also, given the increasing acceptance of such digital assets in societies, this legitmises the coin as having intrinsic value (currency only has this as it is legal tender aka the government putting their chop/backing on the currency).

There are governments around the world who are afraid of this and accuse cryptocurrencies as a way to launder money, for illicit activities, etc. But their main concern centers heavily on tax-evasion - our government earns its keeps via taxes (more often than not).

So hold on to your bitcoins if you have any, and watch it go up up up!

Hope this helps!

 

Why bitcoin has value. Decentralized and independent ...
 - It means that no governments, institutions or banks exercise power over him. They do not affect its emission, i.e. they cannot be "printed". The structure of botcoin has no one above him who would have a direct impact on its value. Easily accessible
- You have access to it wherever the Internet is. You do not need to log in to an external website. All you need is an application installed on your computer or smartphone. It's easy to replace
- You can do it on cryptocurrency exchanges, through an exchange office or directly at an ATM. Exchange for FIAT currencies is quick and immediate. Global and universal
- It is available all over the world under the same name and anyone who is able to invest in it can become its user. Anyone can check their source code and contribute to its improvement. Useful
- You can pay with it. Currently, more and more retail or service outlets accept payment in this currency. You can also have it as an investment asset. Easily transferable
- You can quickly send it from one place to another (make a transfer) without intermediaries such as banks. Thanks to this, the commissions are microscopic and without additional fees. Safe
- It's hard to fake it, because bitcoin is a combination of complicated mathematics and cryptography.

I think that's enough, right ?

I think a lot of people used to fail this and I don't know why. You are right though. The way it was explained on the Bitcoin blog is that the value of bitcoin is backed by mathematics, and is all about the trust we have in it. So, that's the utility you have mentioned. If we as the people do not trust it and we decide to drop or from investing in it, then bitcoin is going to fail. So, we the community are the ones that are creating the value and backing Bitcoin. Some people usually get this wrong at times.

In other words, when someone is ready to give something a price then it will get that value. When someone will be ready to buy by convincing the seller? Only when the buyer is confident about selling it again for profits. This is what happening exactly with all commodities and with bitcoin as well.

It has been discussed a lot of times, but you're still right about that, having scarcity and utility gives it value. Another thing that matters a lot is the demand, because if there is no demand for it, then it's going to fail. Imagine having supply but there is no demand, lol, the product will be as good as dead.

So, it's very important that there be a demand, and as long as the demand keeps on increasing the price will as well be increasing. And the reason scarcity is important, after the halving we are going to see a reduction to supply and the demand will be higher than the supply, which will lead to a very high price