Why is bitcoin worth? Welcome to discuss - page 29.

noictib

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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 the person who said that bitcoin has no value is right because it is our network who is making bitcoin valuebale by trust to each other , So don't take your attention toward that person who is saying bitcoin has no value or useless .
If that is not using bitcoin than he has the right to say anything about bitcoin , but who are in the bitcoin and knows that bitcoin is what and how it is better than fiat , should need to explain to those types of persons in positive ways .
Because to know and understand about bitcoin is a big thing in the bitcoin for newbie .
Overall I mean , you should explain that person in positive ways .

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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.

If someone says Bitcoin has no value, I believe that they did not know about it. If they have a little knowledge about Bitcoin, sure that view will be changed. Bitcoin is very valuable and is increasingly growing. There are many who believe that the value of Bitcoin is calculated by the amount you can change out from it or otherwise prices of Bitcoin when converted into cash. In fact it is only part of Bitcoin, its real value is the technology, the global network. Its value lies in the usefulness, convenience, safety and security of the payment and purchasing. No bank, the State can intervene in Bitcoin.
Its price increased when more people accept is one thing of course. You imagine the coin is like a company's shares, while more and more people want to buy stocks that, are of course the stock price will increase

xuan87

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if you can spend bitcoin then bitcoin has a value, the reason why bitcoin has a value because everybody is accepting and treating bitcoin as money, and the value is determined by the transaction rate and the demand and supply, so if more people using it, it will be more valuable, and I believe when someone knows the advantage of bitcoin more people will join to used bitcoin

hardtime

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It's just like a fiat currency when it comes to discussing worth, it's only real worth as much as the people who use it and control it say it's worth. Nothing just holds worth based on that's just what it is, that is the going price for the buying and selling of bitcoin and people must follow it.

Unless the demand and such changes then that forces the worth of bitcoin to adjust.

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Quote from: bncbnc on February 05, 2017, 07:59:27 PM

Quote from: machinek20 on February 05, 2017, 01:23:00 AM

Bitcoin is worth because it is a great investment, and the one that make bitcoin valueble is the bitcoin users, the more demand the moere valuable the price, the reason why people is looking for bitcoin is because the user find that it is very easy to do transaction using bitcoin and we don't need to be afraid of identity theft, because we don't provide any identity to do transaction

in fact bitcoin is giving us multiple benefits, we can use bitcoin in trading, for investment, for gambling and for lending, it is depending on the interest of the people if some one is interested in trading then can make good money from trading.

I think that is not a benefits though because without trading or investing or even gambling it we can't get anything from bitcoin, not all people are going to believe you if you are paying with bitcoin too. For some people bitcoin does not have any benefit for them though. But if you are using it for some transaction may be this is useful for you but mostly people are just stacking up a lot until good price so I think for now it is not yet really useful for us here becaus everyone still want to fet more and more

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Quote from: sabbirshm on February 06, 2017, 07:53:51 AM

I think we don't need to be worried for those layman's talks.Bitcoin has it own importance which is known to all bitcoin user.Bitcoin has value like gold,people are accepting bitcoin cordially because of bitcoins advantage.There is no complexity on it and government can't control it so you have no border for using bitcoin.

For now we have no border, so let us just enjoy things. If it was already regulated or if the government is holding the bitcoin already I don't think that there are no limits in bitcoin, some rules will change if that would happen, at least the bitcoin will become part of the society and will lead the digital currency world.

PacePay

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They said it wrong because they do not know the current value of it and they do not know that how much people are getting benefit from this currency and do not know that bitcoin is playing a major role in regulating the online business of the world. Many of the people have now access to the online shopping centers and earning opportunities. Before bitcoin it was not able for people from most of the countries to shop in international shops to buy with paypal.

sabbirshm

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I think we don't need to be worried for those layman's talks.Bitcoin has it own importance which is known to all bitcoin user.Bitcoin has value like gold,people are accepting bitcoin cordially because of bitcoins advantage.There is no complexity on it and government can't control it so you have no border for using bitcoin.

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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.

The person who says that" the bitcoin has no value " is right because it is our faith in the bitcoin .
All the bitcoiner have faith with each other that if he will sell than other will accept bitcoin without any problem .
So this type of trust to accept bitcoin by each other is making bitcoin valueable .
Further if you will see at the base of the bitcoin than you will not find any proper community that control its price . Because bitcoin is like a thing in the internet in controlled amount and its price increase and decrease according to the demand in online market which is similar to the product in the real practical world .
So this is our trust in bitcoin that making it valuebale .

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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 digital currency which is you can use in trading, investing, paying bills,etc. It has no value if people do not know the importance of bitcoin. They accept more people not only the increasing of its value but because of the good benefits.

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Bitcoin as an advancement in technology which got existed for some sort of purpose to support the fastest transactions. This further got transferred to a better place as an alternate currency that slowly got acceptance in several merchants. On the other side giving user the hope of earning good through different possibilities. This makes it worthy.

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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.

The origin value of bitcoin is on his advantages. But it will be useless if you're giving a serious feedback for whom are a lack of knowledge about bitcoin. With a lot of adoption will make bitcoin has needed by a lot of the people around the world. and for further information please read about the economy 101.

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They say that bitcoin has no value, firstly maybe they do not know what bitcoin is and how does it works, and even on how to make money thru bitcoin. What do you mean of “why accept more people” – I guess bitcoin accept more people because they will be worth of bitcoin like, more people more bitcoin to be in demand, they will buy more biotin so the price totally increase on that way, it’s a supply and demand law. We should know that as the bitcoin users, it may vary also on that method, the more user the more demand of bitcoin.

bncbnc

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Quote from: machinek20 on February 05, 2017, 01:23:00 AM

Bitcoin is worth because it is a great investment, and the one that make bitcoin valueble is the bitcoin users, the more demand the moere valuable the price, the reason why people is looking for bitcoin is because the user find that it is very easy to do transaction using bitcoin and we don't need to be afraid of identity theft, because we don't provide any identity to do transaction

in fact bitcoin is giving us multiple benefits, we can use bitcoin in trading, for investment, for gambling and for lending, it is depending on the interest of the people if some one is interested in trading then can make good money from trading.

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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.

Who said bitcoin has no value? Look at the exchange rate, more than $1000 per 1btc.
Yes, they were wrong, bitcoin is valuable because people treating it that way, keep buying a lot of bitcoin and over time it getting valuable. Why people want to? Because the idea of bitcoin being decentralized digital currency and proven worth slightly more as time goes on. Price of bitcoin affected by supply and demand, how much people buy and trade bitcoin on exchanges, which state as global trading volume.

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Quote from: marcoman22 on February 05, 2017, 05:37:32 AM

The first thing is that bitcoin can be transformed globally with very low transaction fees. Other thing is it is a peer to peer system in which bitcoins are sent from one place to other without any central authority. It functions based on a superb blockchain system which has made bitcoin to gain trust of millions of people.Other important thing is it cant be banned without banning internet.The trust gained by the bitcoin has made a ever growing demand for bitcoin which inturn decides its price.

beside these bitcoin is worth because it provide us so many opportunities, for example we can use bitcoin for online shopping and can transfer bitcoin too much easily. we can also use bitcoin in all over the word with same value without changing it into any local currency. we also do not need for any Visa card or check, we can use our bitcoin directly using our mobile.

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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.

Like most things, value is derived firstly from how people perceive something, for example you think bitcoin has value and so do millions of other users world wide. They are actually willing to pay to own it, for example

and 2nd if something has a valuable use case, for example silver, used in most electronics and it looks good too Grin

Bitcoin has a massive use case in this digital age, as a form of value transfer, digital contracts, as a timestamp, tokens for ownership, these are only a few and there are things we haven't even thought of yet. people who say bitcoin has no value just haven't studied it enough and are a little ignorant. Roll Eyes

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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 itseld doesn't have value, because it is immaterial. It is us, users, who give to value to it by believing it is worth it. Value rises when more people know about it and want it, because the amount of them is limited and thus if more people want one item it always starts costing more. That's how economy works, it's not just about bitcoin.

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Quote from: soham on February 05, 2017, 11:25:55 AM

I really want to see the guy who said bitcoin is worthless. Please ask him to send all his bitcoins to you or me. However, that person did not say anything wrong technically. Because bitcoin is computer generated coin which holds no value literally.

some people have a hard time grasping what bitcoin is, so only because bitcoin is different than their old fiat currency and it is working in different ways, they have a hard time understanding why it has value.

these people eventually will accept the facts when they see bitcoin used in real world application. for example if someday they can buy groceries with bitcoin or pay for something online with bitcoin instead of their credit cards.

soham

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I really want to see the guy who said bitcoin is worthless. Please ask him to send all his bitcoins to you or me. However, that person did not say anything wrong technically. Because bitcoin is computer generated coin which holds no value literally.

Bitcoin hold a value of public trust. Since people have invested money in to bitcoin or you can say that they have entrusted their money with bitcoin, bitcoin started gathering value. So the more money invested in bitcoin, the more value increase you will see.

If all the people invested in bitcoin pulls out their money, bitcoin price will become nothing. So bitcoin is worth, because public in entrusting bitcoin with their hard earned money.

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