Topic: Why is there such demand for Bitcoin? - page 20. (Read 2640 times)

yes it is real happening right now ..
this is one of the greatness of bitcoin that makes everyone interested to invest in this crypto.
I think now the new starting point of bitcoin ran for more valuable and useful in the future.

Bitcoin such the world all people everyday.

Bitcoin is highly anonymous and deals very quickly. Besides, the amount of bitcoin is very small, resulting in scarcity.

Because it is a new creature world has never seen before.
It is a leading crypto currency in the world. Moreover that The bitcoin process is completely a online process So we can access it on anywhere in the world and anytime. Most important thing is most of the entrepreneurs or investors are attracted by its price. So they can get a more profitable price than fiat.

One dollar invested in Bitcoin in 2010 is now worth $58,000. One thousand dollars would be worth $58 million. Despite more Bitcoins being mined, demand still by far outstrips supply.

It’s reasonable to wonder – as the hard fork between Bitcoin and Bitcoin Cash is solemnised by last weekend’s convulsions – why Bitcoin’s value has kept on rising. There’s been a 23-fold increase in price over last two years – is it over now? Will BCH steal its thunder and leave Bitcoin gasping? Probably not…

Of course what has risen is the price; as to the value, that has yet to be determined. Value depends not only on scarcity but also utility. Lately, the biggest utility has been the profit that can be taken by selling Bitcoin. Now that it’s down from its peak thanks to BCH, we can maybe start to put a price on value

Yeah, I agree with you. At present BTC is like Gold - it is tool for investments but not tool for payments. Also BTC is very famous at present.

yup, the concept of bitcoin is almost the same as gold, the amount is limited and must be mined to get it, then just made a commodity. well, because of the limited number, the higher the price, and the many people who are interested. bitcoin becomes a rare item.

It is entirely true that bitcoin is having less supply and high demand, this is because of the popularity growth and the people are already recognizing its true value since it hits $10k. However, due to bitcoin going mainstream, the transaction charges are getting higher and the network is getting congested. Once it has been developed to its full potential and utilized for its true purpose, bitcoin could replace fiat.

Cause it is affordable to use. so easy to transact. its tax free that why many people want it that`s why the demand of bitcoin is always increasing. its simple but its what we seeing now. many people using it and gaining money.

Of course, that would be always thinking. Do believing such matter is possible and it could really make something great for us. Considering those bitcoin high demand, it probably drives it's prices to rapidly increase as a large numbers of individuals are pursuing bitcoin as their investment. There is nothing to wonder that would be possible to happen since bitcoin price is really attractive and it totally we gonna earned money from here.

Various sectors have started using Bitcoin, the increasing number of users has also made Bitcoin different than it was a few years ago. Currently Bitcoin is increasingly taken into account and can be an important part of economic development in the world. I see that this is a very different thing, Bitcoin has changed people's view that digital currency can be used in everyday life. This is what makes the increasing demand for Bitcoin in the world.

If less bitcoi is being mined, does it make the fee so high recently? I think so.

If we talk about demand, more people know cryptocurrency from any advertising on website or social network decide to buy bitcoin amd make demand very high.

End use, result, fruitfulness, utility, profit these are some of the reasons why people demand some commodity or service.  Bitcoin being the newest form of keeping your assets came into existence few years back.  Some people who must have understood it's future invested in this currency.  Because of it's simple payment system without making any payment to banks or intermediaries it started gaining popularity and started widening its people (investor's) base.  With the increase of the interested investors the demand of the bitcoin increased and because the supply of the coin could not increase in the same quantity due to lesser coins mint, the law of Demand and Supply applied here thereby increasing the price/cost of the bitcoin.  That is why the price of one bitcoin in year 2010 which was just one dollar rose up to 58000 dollars.  

Many investors have already become millionaires by investing in it and are motivating attracting  other people to be a member of this precious coin family.  As more and more people are being attracting towards bitcoin demand is increasing and as a result price is also increasing and ultimately people are gaining by investing in it.  A circle is being created because of this reason.  More demand; lesser supply; more profit to investors; thereby attracting more and more new investors to bitcoin; and again results in increased demand.

I completely agree.
High demand, less supply. Reasonable, since everyday it's harder and harder to mine bitcoins. Banning of bitcoins in China may have contribute somehow or if every the number of miners there were already covered by new miners still it's difficult to set a proportional amount of bitcoin to the massive adaption of bitcoins.
Before I think one bitcoin is to a hundred users or less that is why prices before are low.
Today, I think one bitcoin is not only to a thousand users.

because we want money that's the main reason why the demand is high it's a fact that no one can survive in the society without money. so why wouldn't you try to make money through investing where you do nothing and wait for your money to increase.

I guess that people hear the success stories from the other regarding btc and profit so they want to be included and even if they don`t have the knowledge they do invest.

The demand is increasing day by day because people hear the news and the profits that other have made from btc and they want to take their places in the ship as well.

There is such a demand for bitcoin because it becomes the most profitable source of investment today, people saw the potential of bitcoin and its rise in value in the past years. This creates enthusiasm for people to buy some bitcoin in hopes that it will continue to rise, and yes, as the demand rises, with fixed supply, bitcoin prices will continue to rise.

Based on my search in quora.
The reason lies in special features of Bitcoin software and underlying concept.
1. Limited supply: Maximum Bitcoins that can ever be generated from the software is 21 million. When it is limited, it is more valued and priced.
2. Divisibility : lower denomination of Bitcoin is Satoshi. 100000000 equals 1 Bitcoin.
3. Decentralised : Bitcoin software is on open source. There is no owner of this software.
4. Bitcoin Mining : People involved in mining are rewarded with fresh bitcoins.
5. Halving Effect : every four years reward gets halved thereby slowing the supply.
This is the features why bitcoin such in demand.

Bitcoin is like gold and it demand always flactuates so that people are interested in the price value .It is such a indemand now in cryptocurrency because it helps many people financially and also in investments they can make it your money profitable.