Why is bitcoin worth? Welcome to discuss - page 24.

Samadur

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Quote from: ralle14 on March 23, 2017, 11:39:02 AM

Quote from: zhangswujip on February 03, 2017, 11:18:43 PM

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

That person is definitely wrong. It's value will definitely rise because there's only a limited amount of bitcoin that can be made by the miners. Also there are many ways to use/spend bitcoin thats why there's a huge demand for it.

Quote from: deisik on March 23, 2017, 11:08:39 AM

Things might change in the future, but so far we have to acknowledge this state of affairs

Looking at the numbers, things will definitely change in the future.

For this you need to have very strong beliefs and all the more faith in bitcoin. When prices drop a little, you need to find the strength to believe in and buy more bitcoin, but there is not always so much determination. I have already decided that there is less risk of simply working on company signatures.

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Quote from: zhangswujip on February 03, 2017, 11:18:43 PM

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

That person is definitely wrong. It's value will definitely rise because there's only a limited amount of bitcoin that can be made by the miners. Also there are many ways to use/spend bitcoin thats why there's a huge demand for it.

Quote from: deisik on March 23, 2017, 11:08:39 AM

Things might change in the future, but so far we have to acknowledge this state of affairs

Looking at the numbers, things will definitely change in the future.

MoneyIsDebt

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Quote from: gabmen on March 23, 2017, 12:23:52 AM

Quote from: ufaiz50 on March 22, 2017, 11:13:35 PM

why bitcoin was worth it because bitcoin currency has more value and many argue bitcoin is a new era in terms of currency the bitcoin also has more features than the fiat like fast transaction, fee low so reasonable that decent bitcoin

Well i agree with what you've said here dude. For the longest time, we've been using fiat currency and we've benefitted from it but bitcoin came in with a lot of new features that basically makes transactions a lot easier to a certain point. We still need fiat but i bitcoin is a fresh new way to transact things and that's what makes people believe in it

i think the way people are accepting it and the way a lot of people adopt it i think the future of it is bright and i think the way the more and more people are investing in it and the way alot of people are also intrusted in mining this is also a plus point for bitcoin progress and i think in future as more people are coming towards online shopping the bitcoin is the ideal currency for them. .

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Quote from: zhangswujip on February 03, 2017, 11:18:43 PM

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss

There are basically two sources that give Bitcoin value

First source is its use as a genuine currency. For example, if you are enrolled in a signature campaign and got paid for posting, this would count toward Bitcoin being used as a currency, i.e. you are paid for providing a service to someone who needs it. If you use Bitcoin for trading ("buy low, sell high"), this would count toward Bitcoin being used as a vehicle for speculation, i.e. it will be a financial, or speculative (which is essentially the same) asset. Obviously, today most of Bitcoin value comes from sheer speculation, not from its use as a currency. Things might change in the future, but so far we have to acknowledge this state of affairs

mastermold

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because it is designed and implemented in a way that it can serve as something that can have value, and because people find useful to utilize those features and believe that other people will continue to use it in the future.

This is similar to gold - as gold has value because its chemical properties make it suitable to be useful and people did use it because of these properties and believed that other people would use it in the future.

BitcoinPC

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Investors and nonprofessional people have different thinking about bitcoin. But in my thinking now bitcoin is still worth-able and its price groow above $1000. So we have no argue to discuss about bitcoin price value. In my eyes, bitcoin already achieved a successful place and now it is depend on ourself how we gain and make profit from bitcoin.

Kolder

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Quote from: Rostadom on March 23, 2017, 08:25:26 AM

Quote from: andrei56 on March 22, 2017, 05:01:31 PM

Quote from: zhangswujip on February 03, 2017, 11:18:43 PM

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

Things don’t have intrinsic value, all the value something has, has to do with the beliefs of people, if people believe something is valuable or useful then it will be valuable, look at petroleum before the development of machines powered by it, people looking for water and that instead found petroleum got mad because of it but then that changed as petroleum became an essential part of the economy.

It's not "belief" that makes things valuable. It's the fact and the market. Since back then petroleum don't have a market and when you sell it to people without saying its use, people will just think that you're selling a bad type of water. You can "believe" that coin X is valuable but without a market, you're just fooling yourself. For example, coin X actually costs 1 satoshi each. But because you've read their ANN thread or their white paper, you "believe" that it's valuable although it isn't because, for instance, the developer has abandoned the project long ago.

Right they're value depends on the economy, if its economical or not. People who'd know the benefits and value of bitcoin knows when the proper time to use bitcoin ,especially when its value is at peak. And knows when to wait when the value goes down.

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Quote from: andrei56 on March 22, 2017, 05:01:31 PM

Quote from: zhangswujip on February 03, 2017, 11:18:43 PM

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

Things don’t have intrinsic value, all the value something has, has to do with the beliefs of people, if people believe something is valuable or useful then it will be valuable, look at petroleum before the development of machines powered by it, people looking for water and that instead found petroleum got mad because of it but then that changed as petroleum became an essential part of the economy.

It's not "belief" that makes things valuable. It's the fact and the market. Since back then petroleum don't have a market and when you sell it to people without saying its use, people will just think that you're selling a bad type of water. You can "believe" that coin X is valuable but without a market, you're just fooling yourself. For example, coin X actually costs 1 satoshi each. But because you've read their ANN thread or their white paper, you "believe" that it's valuable although it isn't because, for instance, the developer has abandoned the project long ago.

Idrisu

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Quote from: zhangswujip on February 03, 2017, 11:18:43 PM

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

I think bitcoin is very valuable as one bitcoin is high than one ounce of gold. What makes it valuable mostly is how the market see it. People may not accept bitcoin for now but the market has proved it to be an assets you can buy and hold as gold. I do believe that if bitcoin is accepted as a mode of payment then expect it values to increase upward.

xypos

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Quote from: zhangswujip on February 03, 2017, 11:18:43 PM

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

Economics is always full of people’s perceptions, expectations and emotions. Think about it, gold has no value intrinsically really(although people say that gold can be used in mobile phones, cars, buildings etc etc the amount actually used is minuscule compared to the amount of gold that is used as investment by speculators). But people still view it as a good store of value.

The point is that bitcoin is decentralized, just like gold and silver. That means no one can print it for free, unlike the fiat currencies around the world.

Why is bitcoin worth more than Dogecoin? Because more people use it and it’s more scarce, much like the relationship between gold and silver.

Yuuto

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Quote from: zhangswujip on February 03, 2017, 11:18:43 PM

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

Bitcoin is a technological transformation of the entire banking system. It has the ability to replace all the banks as well as all the moneyy remittance firms such as Western Union and Monogram.

The ability to function properly as a currency is what gives a currency its value. Its scarcity as well, however it is mostly the amount of trust people are willing to put into the currency. The more someone think that a currency is stable, the more stable it is.

Technically the perfect money system would be a currency that can be consumed and used as something. However, something that can be consumed is easily perishable and not always a good currency.

gabmen

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Quote from: ufaiz50 on March 22, 2017, 11:13:35 PM

why bitcoin was worth it because bitcoin currency has more value and many argue bitcoin is a new era in terms of currency the bitcoin also has more features than the fiat like fast transaction, fee low so reasonable that decent bitcoin

Well i agree with what you've said here dude. For the longest time, we've been using fiat currency and we've benefitted from it but bitcoin came in with a lot of new features that basically makes transactions a lot easier to a certain point. We still need fiat but i bitcoin is a fresh new way to transact things and that's what makes people believe in it

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Quote from: ufaiz50 on March 22, 2017, 11:13:35 PM

why bitcoin was worth it because bitcoin currency has more value and many argue bitcoin is a new era in terms of currency the bitcoin also has more features than the fiat like fast transaction, fee low so reasonable that decent bitcoin

Wrong, I just give you a simple concept

Bitcoin = Advantages = It's been needed by a lot of the people = Demand = value

Disadvantages = They are not care with it = Demand = value

In my conclusion if bitcoin is not having a value bit their advantages can give a value for the bitcoin itself. This is really simple dude.

Monnt

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Quote from: Xester on March 22, 2017, 08:20:10 AM

Quote from: pinkpanther03 on March 22, 2017, 04:54:50 AM

Quote from: bitllionaire on February 04, 2017, 03:34:38 AM

Quote from: adzino on February 04, 2017, 12:54:41 AM

Quote from: zhangswujip on February 03, 2017, 11:18:43 PM

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

Same discussion again and again. Bitcoin does indeed have some value. If more people adopt and accepts the usage of bitcoin the price will rise, since the demand for bitcoin will be increasing but the supply is still limited.

i think the demand of bitcoin is not decreasing, because as time pass people are getting awareness about bitcoin and they are taking interested for investing their assets in bitcoin, therefore the demand is continuously increasing and that is the reason that the price of bitcoin is also shooting up. we can hope that the trend will continue for a long time and people will getting income from bitcoin.

Certainly yes! the demand of the community so far are getting stronger, this is what the reality happen worldwide. together with the whale investors are much getting interest into it because they saw how growth faster it is, not because only it is trend in the Internet all over the world but of course it is because of the unique features on which bitcoin has.

The demand on bitcoin is strong but the current issues on hardfork is causing stir and panic among the bitcoin community. Though the exchanges has given some insurance to the community but it has caused the price of bitcoin to decrease this past few days by 200 dollars. Hope bitcoin will recover soon and will again rise back to 1200$ or 1300$ each.

The current bitcoin situation and the progression it is at right now, gives us the impression that the future of the bitcoin is bright and has a lot of potential to take the stock market by storm and dominate the investment domains, and when that happens the prices will skyrocket throw the roof and if I get on that roller-coaster of wealth and profit then this is your chance.

user27

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Quote from: zhangswujip on February 03, 2017, 11:18:43 PM

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

Well, ask yourself what is the origin for the value of the USD or the CNY?

People put trust into the currency, they trust the government to do the right thing and not inflate the monetary base too much, although that isn’t really the case in most world governments.

Same with gold, its status as a century old asset to hold your wealth in is what gives its value. People trust its ability to hold the value of their wealth.

Same with bitcoin, its status as the first cryptocurrency will forever make it valuable.

ufaiz50

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why bitcoin was worth it because bitcoin currency has more value and many argue bitcoin is a new era in terms of currency the bitcoin also has more features than the fiat like fast transaction, fee low so reasonable that decent bitcoin

Oralmat

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Quote from: crazycatwoman03 on March 19, 2017, 06:33:19 AM

Quote from: zhangswujip on February 03, 2017, 11:18:43 PM

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

Yes it is not true that bitcoin has no value. If bitcoin does not have value why does the government considered it as a threat and wants to suppressed it. If bitcoin has no value why do people used it for transactions and work hard to earn it. A thing has a value if people give value to it even if others do not.

Exactly, this is how valuable and worth of bitcoin, it is being threat to some other country.
People are trying hard to earn it, bitcoin is totally worth earning because of its easiness to access and fast transaction unlike to other. In future we shall see more of bitcoins circulated and being used.

andrei56

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Quote from: zhangswujip on February 03, 2017, 11:18:43 PM

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

Things don’t have intrinsic value, all the value something has, has to do with the beliefs of people, if people believe something is valuable or useful then it will be valuable, look at petroleum before the development of machines powered by it, people looking for water and that instead found petroleum got mad because of it but then that changed as petroleum became an essential part of the economy.

UCHCHILD

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It is totally has its worth because of the fact of it can help the human financial needs.

Xester

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Quote from: pinkpanther03 on March 22, 2017, 04:54:50 AM

Quote from: bitllionaire on February 04, 2017, 03:34:38 AM

Quote from: adzino on February 04, 2017, 12:54:41 AM

Quote from: zhangswujip on February 03, 2017, 11:18:43 PM

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

Same discussion again and again. Bitcoin does indeed have some value. If more people adopt and accepts the usage of bitcoin the price will rise, since the demand for bitcoin will be increasing but the supply is still limited.

i think the demand of bitcoin is not decreasing, because as time pass people are getting awareness about bitcoin and they are taking interested for investing their assets in bitcoin, therefore the demand is continuously increasing and that is the reason that the price of bitcoin is also shooting up. we can hope that the trend will continue for a long time and people will getting income from bitcoin.

Certainly yes! the demand of the community so far are getting stronger, this is what the reality happen worldwide. together with the whale investors are much getting interest into it because they saw how growth faster it is, not because only it is trend in the Internet all over the world but of course it is because of the unique features on which bitcoin has.

The demand on bitcoin is strong but the current issues on hardfork is causing stir and panic among the bitcoin community. Though the exchanges has given some insurance to the community but it has caused the price of bitcoin to decrease this past few days by 200 dollars. Hope bitcoin will recover soon and will again rise back to 1200$ or 1300$ each.

Topic: Why is bitcoin worth? Welcome to discuss - page 24. (Read 13030 times)