Why is bitcoin worth so much ? - page 2.

Twinkledoe

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Quote from: Kasabus on July 06, 2020, 07:47:24 PM

Quote from: elisabetheva on June 23, 2020, 05:23:20 PM

Quote from: culuuton on June 23, 2020, 02:33:13 AM

Bitcoin is the first representative of the cryptocurrency market, it is also the standard for determining the value of coins later. It is more like and has many advantages over gold, the value cannot be measured while the supply is limited.

why should doubt the existence of bitcoin, I totally agree with you that bitcoin is the main market for crypto. bitcoin has become a prima donna for highly sought-after investments because apart from leaving out all altcoin is affected by the movement of bitcoin. There is no altcoin that can control without the encouragement of bitcoin, so we can be sure that bitcoin is very reliable and suitable to be the main investment. although do not neglect to the top altcoin which is also quite good.

Yes. A lot of new altcoins are already in the market but still, nothing can beat bitcoin. Bitcoin is worth so much because it is the very first crypto that has gained the interest and trust of people and even after its 10 years of existence, it's value still remain high compared to other crypto coins. Although bitcoin is also bound to be a global currency soon, still people consider it as the best asset or investment for now.

Though being a global currency is still too early. But yes, no doubt, nothing can beat bitcoin up until now. The popularity alone among cryptocurrencies is not questionable. Even noncrypto users is associating bitcoin with crypto but when you talk about other alts, they are clueless.

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Quote from: elisabetheva on June 23, 2020, 05:23:20 PM

Quote from: culuuton on June 23, 2020, 02:33:13 AM

Bitcoin is the first representative of the cryptocurrency market, it is also the standard for determining the value of coins later. It is more like and has many advantages over gold, the value cannot be measured while the supply is limited.

why should doubt the existence of bitcoin, I totally agree with you that bitcoin is the main market for crypto. bitcoin has become a prima donna for highly sought-after investments because apart from leaving out all altcoin is affected by the movement of bitcoin. There is no altcoin that can control without the encouragement of bitcoin, so we can be sure that bitcoin is very reliable and suitable to be the main investment. although do not neglect to the top altcoin which is also quite good.

Yes. A lot of new altcoins are already in the market but still, nothing can beat bitcoin. Bitcoin is worth so much because it is the very first crypto that has gained the interest and trust of people and even after its 10 years of existence, it's value still remain high compared to other crypto coins. Although bitcoin is also bound to be a global currency soon, still people consider it as the best asset or investment for now.

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Bitcoin was just the first cryptocurrency. The world is so arranged. The something first in any industry will always be popular and in demand

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Quote from: culuuton on June 23, 2020, 02:33:13 AM

Bitcoin is the first representative of the cryptocurrency market, it is also the standard for determining the value of coins later. It is more like and has many advantages over gold, the value cannot be measured while the supply is limited.

why should doubt the existence of bitcoin, I totally agree with you that bitcoin is the main market for crypto. bitcoin has become a prima donna for highly sought-after investments because apart from leaving out all altcoin is affected by the movement of bitcoin. There is no altcoin that can control without the encouragement of bitcoin, so we can be sure that bitcoin is very reliable and suitable to be the main investment. although do not neglect to the top altcoin which is also quite good.

Negotiation

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Quote from: Naughty Princess on June 23, 2020, 03:38:41 AM

Quote from: Negotiation on June 21, 2020, 12:01:14 AM

Bitcoin has a lot of both price and demand due to the increase in the price of Bitcoin in general Bitcoin is more in demand than many lucrative currency diamonds Bitcoin investments are more profitable than investing in Bitcoin from other currencies. If Bitcoin were not a profitable currency its value would not be so high.

Other coin depends on the bitcoin price on the market. Bitcoin is the expensive one because it is the first coin known when it comes to cryptocurrency. It gains trust to lot of investors which gets high demand. Like gold, bitcoin is valuable and worth. Limited supply make the price increase and many strongly hold it to gain high profit.

I agree with you that Bitcoin is really very valuable Bitcoin is more in demand than gold The crypto market usually survives for Bitcoin The crypto market would not have improved so much without Bitcoin. Bitcoin is a very profitable currency when it comes to investing.

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Quote from: Negotiation on June 21, 2020, 12:01:14 AM

Bitcoin has a lot of both price and demand due to the increase in the price of Bitcoin in general Bitcoin is more in demand than many lucrative currency diamonds Bitcoin investments are more profitable than investing in Bitcoin from other currencies. If Bitcoin were not a profitable currency its value would not be so high.

Other coin depends on the bitcoin price on the market. Bitcoin is the expensive one because it is the first coin known when it comes to cryptocurrency. It gains trust to lot of investors which gets high demand. Like gold, bitcoin is valuable and worth. Limited supply make the price increase and many strongly hold it to gain high profit.

culuuton

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Bitcoin is the first representative of the cryptocurrency market, it is also the standard for determining the value of coins later. It is more like and has many advantages over gold, the value cannot be measured while the supply is limited.

lienfaye

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Because bitcoin is trusted by many crypto enthusiasts as the first crypto that can be use for digital payment and as an investment due to volatility. Its a coin that already existing for years but still on top and can manage to climb up after bearish market, thus a reliable coin to invest either for short or long term.

The price is determine base on the supply and demand of btc, more demand means a good price.

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Quote from: laredo7mm on June 21, 2020, 08:26:44 AM

Back again to economic law. large demand and limited supply. currently the supply of bitcoin is actually quite a bit to be able to see large demand, that's where prices have increased and decreased regardless of bitcoin is an investment or viewed in terms of other benefits we see the basic things based on logic

Bitcoin will be in demand soon,and with 21 million supply of Bitcoin (but now i think only Half is the available because of many mishandled Bitcoin that already lost now.so basically the demand and supply in future will be that hard so price of bitcoin will Increase the value that not everyone expected.

Quote from: Heart18 on June 22, 2020, 06:30:02 PM

Bitcoin is not just an ordinary virtual coin...It has a great value that can be compared to gold. The large demand of bitcoin and limited supply are main greatest features of its worth as a digital currency. A lot of traders and investors and other growing individuals were aiming to have a great financial breakthrough in Bitcoin. It can also be seen as the most prominent triple entry bookkeeping system in existence.

considering Bitcoin as a Digital Joke?yeah in time but for me?i want this to be a currency that will be circulating and not just for storing.

Heart18

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Bitcoin is not just an ordinary virtual coin...It has a great value that can be compared to gold. The large demand of bitcoin and limited supply are main greatest features of its worth as a digital currency. A lot of traders and investors and other growing individuals were aiming to have a great financial breakthrough in Bitcoin. It can also be seen as the most prominent triple entry bookkeeping system in existence.

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Quote from: spy100 on June 14, 2020, 04:19:53 AM

Why is bitcoin worth so much ?

Bitcoin price $9,442.51 coinmarketcap
Ethereum $236.39 coinmarketcap

1.Btc transaction fees are high
2.Btc takes like 10 minutes - 1 hour to confirm
3.It has no smart contracts support
4.No tokens support
Etc etc ...

Where does the value of bitcoin come from ? I don't understand the logic behind the valuation

I can understand why some people may be confused but in fact it is really simple, first of all bitcoin is scarce, fiat for example can be printed at will and in unlimited quantities, this is not true for bitcoin, however this only takes care of the supply side and it does not explain the demand, as we know bitcoin has several characteristics that make it better than fiat currencies, no one can block your transactions, you do not need to reveal your identity to open a wallet and more, however many coins can do the same so why bitcoin is so valuable? And the reason is the people behind it, many coins only have tens of thousands of people that accept the coin, while in the case of bitcoin that number reaches millions, this in return makes more people to want to accept it and use bitcoin instead of other coins creating a reinforcing cycle.

laredo7mm

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Back again to economic law. large demand and limited supply. currently the supply of bitcoin is actually quite a bit to be able to see large demand, that's where prices have increased and decreased regardless of bitcoin is an investment or viewed in terms of other benefits we see the basic things based on logic

freedomgo

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Maybe you can also ask yourself, why gold is worth so much? With fiat you can transact easily, you can buy food on it, and it has a real use in our life.

That's just like bitcoin, it was bitcoin who introduce the crypto world so people are now treating bitcoin the king and though there are betting system or coin that will be introduce, it's not enough to replace bitcoin on its position.

ice18

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Btc is worth so much because of its limited supply but very high demand imagine how many people are holding bitcoin all over the world and its supply is limited to only 21m btc thats really low unfortunately bitcoin transaction time is really bad compared to other new blockchain but btc is also the most secured blockchain above them all you will need $1.4B or more to conduct a 51% attack still no assurance of success.

Negotiation

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Bitcoin has a lot of both price and demand due to the increase in the price of Bitcoin in general Bitcoin is more in demand than many lucrative currency diamonds Bitcoin investments are more profitable than investing in Bitcoin from other currencies. If Bitcoin were not a profitable currency its value would not be so high.

pixie85

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It's worth so much because people want it to be. In short, there's a demand.

Diamonds used to be worthless but then a demand for them came and their price skyrocketed. There are more beautiful gems out there and ones that used to be valuable long before like emaralds but diamonds are what women crave to have on their rings because 'fashion' Tongue

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Less is more

It is one of the first cryptocurrencies.
Its ability has been tested over time and has proven to be worthy. Moreover, people who use it find Bitcoin trustworthy, the most important part of being a cryptocurrency is that everyone needs to believe in you and actually use you. Bitcoin has always been used and has mostly never had trouble. As long as there are people who are using it for their purposes, no matter what it is, Bitcoin (and other currency with the same reason as well) will still be used by people all over the globe.

FlightyPouch

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I think it is the people. People wanted to earn from it. They kept investing on it despite the falls or the dump. They kept on coming back with the hope of having a profit from it or using it to their convenience. Whatever they're reasons is, without us investors and users, I don't think Bitcoin will be having these kind of price, this kind of value in the long run.

Naughty Princess

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Quote from: BobBct on June 16, 2020, 03:22:17 AM

It's just simple really. BTC is the first cryptocurrency out there. It's the foundation that built the market. So there's no doubt that it will be the most expensive coin out there. And come to think of it, When people hear "Cryptocurrency" they're first thought is BTC not ETH, BNB etc. And the price of BTC really depends on the market. People know that BTC has the most potential to all coins/tokens out there. So that's what they initially hold.

That is right. Bitcoin is the first thing to think when it comes to crypto. Everything in the market depends on the movement and value of bitcoin. Bitcoin is the leading coin in crypto market and the strongest, it is the investment that you cannot be afraid of losing unless you cannot handle your emotions on every situation occur.

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Adoption plays a big role as well. When you are the oldest coin you get a ton of users on your currency and everyone starts using it, after a while other coins start to pop up but they need to gain users faster than you to become bigger but if you continue to be good why would anyone move to any other place?

So, at the end of the day the reason why bitcoin is so high is simply it was done before anyone else and there was no real threat to its place by any other coin for majority of the years and nowadays it is just way too late to even matter because bitcoin name is known by everyone, not just in our crypto space but in the whole world. When you get that big, when you are big enough that Bloomberg TV has bitcoin price index on their screen 7/24 that means there is no rivals.

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