Topic: Why is bitcoin worth? Welcome to discuss - page 26. (Read 13030 times)
Bitcoin has value for the simple fact that it does what was proposed to be done. This means that the currency fulfills its role in allowing people to have a decentralized and secure way of storing value. Many people do not feel secure enough to store value in fiat currency, gold or other assets, and for these people Bitcoin is a good way to diversify.
Bitcoin is indeed worth to use and worth to earn. Bitcoin does have value since the demands is rapidly increasing daily. Everyday the price of bitcoin is fluctuating this means people are really into use all over the world.
What makes bitcoin demand exists in the market? it makes bitcoin worth in the marketplace? think what makes people want to buy bitcoin? I think because of the bitcoin technology highly sophisticated 
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.
Value and pricing of everything in the world does work in the same way, basically it depends on demand/offer, it's not just BTC imo but anything else in the world from food to houses. saying BTC has no value is not true at all.people buying and selling are the ones determining the value and that's not bad in anyway, if you think about it. What makes gold, diamonds valuable? same principles do work for the pricing of everything IMO.
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.
It has no value, because there is no significancy for them what bitcoin is. That's the logic of what they said, no wonder why there negative into bitcoin. But in reality bitcoin is worth to invest in, if they're just going to give themselves to find out what it is all about He/She will be amazed for sure.
It’s a game of trust. The currency note in your pocket has some definite value of $1 or 100 INR etc because the concerned government has agreed to pay you that respective amount so you trust that the instrument possesses the some value and thus everyone other. Bitcoin is not different, people around the world have faith in bitcoin and thus they believe that bitcoin has a certain value of $1,000 and this mutual trust is known as value.
The value of bitcoin probably depends on trust, because if the community stops trusting bitcoin, it would become like other currencies who does not have trust among people. The only thing that makes bitcoin the best and different from others is the trust coming from the people around the world, the belief of people that bitcoin will always be of great value.
The best thing is.. you don't have to trust anyone or anything.. you just have to trust Math..
And since math can be proven its a bullet proof concept.
Its a currency backed up with Math and Calculation Power.
I mean math won’t fail you for the most part but there are things that we can’t predict and there are factors that we cannot intervene with when it comes to changing the price. There are lot of other factors which are usually assumed being beyond our control.
The factors that give Bitcoin its value are the same factors that give Gold its value, a goods with limited volume in addition to the possibility of storing it for long time without any lose in its properties, but I think Bitcoin is better than Gold because it is easy to store and buy/sell.
"Bitcoin is more worthy than gold", this only applies to active users. Gold is an immovable property assets.
Because of decentralization, Bitcoin is very feasible when compared with FIAT, and also because many elements of bitcoin algorithms value that can be divided into small nominal by altcoins as the main determinant of price.
Bitcoin is indeed worth to use and worth to earn. Bitcoin does have value since the demands is rapidly increasing daily. Everyday the price of bitcoin is fluctuating this means people are really into use all over the world.
It’s a game of trust. The currency note in your pocket has some definite value of $1 or 100 INR etc because the concerned government has agreed to pay you that respective amount so you trust that the instrument possesses the some value and thus everyone other. Bitcoin is not different, people around the world have faith in bitcoin and thus they believe that bitcoin has a certain value of $1,000 and this mutual trust is known as value.
The value of bitcoin probably depends on trust, because if the community stops trusting bitcoin, it would become like other currencies who does not have trust among people. The only thing that makes bitcoin the best and different from others is the trust coming from the people around the world, the belief of people that bitcoin will always be of great value.
The best thing is.. you don't have to trust anyone or anything.. you just have to trust Math..
And since math can be proven its a bullet proof concept.
Its a currency backed up with Math and Calculation Power.
Yes math has crucial role in determining the price but at the same time the current price is determined by the buyers and sellers in the market and buyers purchase bitcoins because they trust that market will buy bitcoins from when buyer wish to sell so it's the mass trust which makes it valuable IMO.
the only thing that matters is "demand" and yes supply too but since supply is not changing and there is always nearly the same amount of bitcoins being sold on the market, the only other factor is going to be demand.
and that means the number of people who are investing in bitcoin.
the nice thing about bitcoin is that it doesn't belong to one nation or one group of people. instead it is global which means all the people from all around the world are going to buy bitcoin but this takes time since not everyone trust the system at first and many don't even know about it.
and as more people come in, price goes higher and higher.
the only limit is the population of the world!
Or maybe the limit is the number of open minded people. There are some that don't even want to use smartphones because back in the day, they didn't have it so that means they don't need it. Those are mostly the elder people.
When we hype up bitcoins, there would still be those people that are very reluctant of everything. Bitcoin is just a currency. Does everyone use USD? No. Does everyone use Chinese Yuan? No. I think the same thing would apply to bitcoins as well. Not everyone would be using bitcoins as long as there are other options like altcoins and fiat money.
Exactly, even if the technical limit is the population of the world while looking practically not everyone is going to use it even if it reaches $100K. There will be the people who will always prefer fiat currencies because one or more reasons. Bitcoin would be one of the popular currencies but won't be the number one currency IMO.
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.
At first bitcoin had no value, then people understood that bitcoin had some nice characteristics, as time has passed more and more people have realized that bitcoin is in fact a good currency, and as such the value of it has continue to go up, there is really no mystery here. 
The factors that give Bitcoin its value are the same factors that give Gold its value, a goods with limited volume in addition to the possibility of storing it for long time without any lose in its properties, but I think Bitcoin is better than Gold because it is easy to store and buy/sell.
I agree with you but hard to spend, bitcoin value is more superior than gold in many aspects but to safe investment gold is superior because bitcoin value tend to change rapidly. I also experienced the same thing as op precisely in early 2015 where bitcoin prices falls, different from now that bitcoin prices bounced
The factors that give Bitcoin its value are the same factors that give Gold its value, a goods with limited volume in addition to the possibility of storing it for long time without any lose in its properties, but I think Bitcoin is better than Gold because it is easy to store and buy/sell.
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.
It has a great value thats why it has a high price. And the thing is everyone wants it, or we could say that the demand is high too thats why many people are trying their best to save this cryptocurrency in an early stage. Though not everyone know it because they are focus on other things in their life.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.
It has a great value thats why it has a high price. And the thing is everyone wants it, or we could say that the demand is high too thats why many people are trying their best to save this cryptocurrency in an early stage. Though not everyone know it because they are focus on other things in their life. It’s a game of trust. The currency note in your pocket has some definite value of $1 or 100 INR etc because the concerned government has agreed to pay you that respective amount so you trust that the instrument possesses the some value and thus everyone other. Bitcoin is not different, people around the world have faith in bitcoin and thus they believe that bitcoin has a certain value of $1,000 and this mutual trust is known as value.
The value of bitcoin probably depends on trust, because if the community stops trusting bitcoin, it would become like other currencies who does not have trust among people. The only thing that makes bitcoin the best and different from others is the trust coming from the people around the world, the belief of people that bitcoin will always be of great value.
The best thing is.. you don't have to trust anyone or anything.. you just have to trust Math..
And since math can be proven its a bullet proof concept.
Its a currency backed up with Math and Calculation Power.
Yes math has crucial role in determining the price but at the same time the current price is determined by the buyers and sellers in the market and buyers purchase bitcoins because they trust that market will buy bitcoins from when buyer wish to sell so it's the mass trust which makes it valuable IMO.
the only thing that matters is "demand" and yes supply too but since supply is not changing and there is always nearly the same amount of bitcoins being sold on the market, the only other factor is going to be demand.
and that means the number of people who are investing in bitcoin.
the nice thing about bitcoin is that it doesn't belong to one nation or one group of people. instead it is global which means all the people from all around the world are going to buy bitcoin but this takes time since not everyone trust the system at first and many don't even know about it.
and as more people come in, price goes higher and higher.
the only limit is the population of the world!
Or maybe the limit is the number of open minded people. There are some that don't even want to use smartphones because back in the day, they didn't have it so that means they don't need it. Those are mostly the elder people.
When we hype up bitcoins, there would still be those people that are very reluctant of everything. Bitcoin is just a currency. Does everyone use USD? No. Does everyone use Chinese Yuan? No. I think the same thing would apply to bitcoins as well. Not everyone would be using bitcoins as long as there are other options like altcoins and fiat money.
It’s a game of trust. The currency note in your pocket has some definite value of $1 or 100 INR etc because the concerned government has agreed to pay you that respective amount so you trust that the instrument possesses the some value and thus everyone other. Bitcoin is not different, people around the world have faith in bitcoin and thus they believe that bitcoin has a certain value of $1,000 and this mutual trust is known as value.
The value of bitcoin probably depends on trust, because if the community stops trusting bitcoin, it would become like other currencies who does not have trust among people. The only thing that makes bitcoin the best and different from others is the trust coming from the people around the world, the belief of people that bitcoin will always be of great value.
The best thing is.. you don't have to trust anyone or anything.. you just have to trust Math..
And since math can be proven its a bullet proof concept.
Its a currency backed up with Math and Calculation Power.
Yes math has crucial role in determining the price but at the same time the current price is determined by the buyers and sellers in the market and buyers purchase bitcoins because they trust that market will buy bitcoins from when buyer wish to sell so it's the mass trust which makes it valuable IMO.
the only thing that matters is "demand" and yes supply too but since supply is not changing and there is always nearly the same amount of bitcoins being sold on the market, the only other factor is going to be demand.
and that means the number of people who are investing in bitcoin.
the nice thing about bitcoin is that it doesn't belong to one nation or one group of people. instead it is global which means all the people from all around the world are going to buy bitcoin but this takes time since not everyone trust the system at first and many don't even know about it.
and as more people come in, price goes higher and higher.
the only limit is the population of the world!
Absolutely, and that’s the reason that bitcoin is getting more and more precious day by day. If we look at the past record of the price of the bitcoin then we will realize that since more and more people are showing interest in bitcoin, the demand for it is increasing so does the price. Now, since it was designed in such a way that has upper cap of 21B bitcoins, but if at that time the demand surpass the available levels of supply then the price will skyrocket for long time (currently it’s not because new bitcoins are coming in the market to satisfy demand).
It’s a game of trust. The currency note in your pocket has some definite value of $1 or 100 INR etc because the concerned government has agreed to pay you that respective amount so you trust that the instrument possesses the some value and thus everyone other. Bitcoin is not different, people around the world have faith in bitcoin and thus they believe that bitcoin has a certain value of $1,000 and this mutual trust is known as value.
The value of bitcoin probably depends on trust, because if the community stops trusting bitcoin, it would become like other currencies who does not have trust among people. The only thing that makes bitcoin the best and different from others is the trust coming from the people around the world, the belief of people that bitcoin will always be of great value.
The best thing is.. you don't have to trust anyone or anything.. you just have to trust Math..
And since math can be proven its a bullet proof concept.
Its a currency backed up with Math and Calculation Power.
Yes math has crucial role in determining the price but at the same time the current price is determined by the buyers and sellers in the market and buyers purchase bitcoins because they trust that market will buy bitcoins from when buyer wish to sell so it's the mass trust which makes it valuable IMO.
the only thing that matters is "demand" and yes supply too but since supply is not changing and there is always nearly the same amount of bitcoins being sold on the market, the only other factor is going to be demand.
and that means the number of people who are investing in bitcoin.
the nice thing about bitcoin is that it doesn't belong to one nation or one group of people. instead it is global which means all the people from all around the world are going to buy bitcoin but this takes time since not everyone trust the system at first and many don't even know about it.
and as more people come in, price goes higher and higher.
the only limit is the population of the world!
Well, what makes bitcoin worth is 'the users', as people keep buying and trading bitcoin, limited supply of bitcoin that had been set just 21 Million and higher demand make bitcoin precious (credibility and advantages behind bitcoin technology), just like gold or diamond (scarce but very useful). If there is no one wants bitcoin anymore, itu become worthless.
Since bitcoin is a commodity and is backed up by fiat currency without any demands in the market then bitcoin will actually lose its value. But bitcoin has already established its name and a huge number of people trusted bitcoin and are confident that when they hold bitcoins they will earn profit from it. In this level bitcoin is founded with strong foundations and a price meltdown rendering bitcoin worthless has become an impossibility at this point of time.
It’s a game of trust. The currency note in your pocket has some definite value of $1 or 100 INR etc because the concerned government has agreed to pay you that respective amount so you trust that the instrument possesses the some value and thus everyone other. Bitcoin is not different, people around the world have faith in bitcoin and thus they believe that bitcoin has a certain value of $1,000 and this mutual trust is known as value.
The value of bitcoin probably depends on trust, because if the community stops trusting bitcoin, it would become like other currencies who does not have trust among people. The only thing that makes bitcoin the best and different from others is the trust coming from the people around the world, the belief of people that bitcoin will always be of great value.
The best thing is.. you don't have to trust anyone or anything.. you just have to trust Math..
And since math can be proven its a bullet proof concept.
Its a currency backed up with Math and Calculation Power.
Yes math has crucial role in determining the price but at the same time the current price is determined by the buyers and sellers in the market and buyers purchase bitcoins because they trust that market will buy bitcoins from when buyer wish to sell so it's the mass trust which makes it valuable IMO.
It’s a game of trust. The currency note in your pocket has some definite value of $1 or 100 INR etc because the concerned government has agreed to pay you that respective amount so you trust that the instrument possesses the some value and thus everyone other. Bitcoin is not different, people around the world have faith in bitcoin and thus they believe that bitcoin has a certain value of $1,000 and this mutual trust is known as value.
The value of bitcoin probably depends on trust, because if the community stops trusting bitcoin, it would become like other currencies who does not have trust among people. The only thing that makes bitcoin the best and different from others is the trust coming from the people around the world, the belief of people that bitcoin will always be of great value.
The best thing is.. you don't have to trust anyone or anything.. you just have to trust Math..
And since math can be proven its a bullet proof concept.
Its a currency backed up with Math and Calculation Power.
It’s a game of trust. The currency note in your pocket has some definite value of $1 or 100 INR etc because the concerned government has agreed to pay you that respective amount so you trust that the instrument possesses the some value and thus everyone other. Bitcoin is not different, people around the world have faith in bitcoin and thus they believe that bitcoin has a certain value of $1,000 and this mutual trust is known as value.
The value of bitcoin probably depends on trust, because if the community stops trusting bitcoin, it would become like other currencies who does not have trust among people. The only thing that makes bitcoin the best and different from others is the trust coming from the people around the world, the belief of people that bitcoin will always be of great value.
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