Why is there such demand for Bitcoin? - page 23.

jerowacik

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Quote from: rockyshala on November 15, 2017, 06:43:57 AM

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.

Read More: https://cryptodaily.co.uk/2017/11/where-is-there-such-demand-for-bitcoin/#login

If compared to the year 2010 of course this will be very crazy and when we can all become a fortune-teller then everyone will become rich. this is a natural law that states that anyone who dared to risk so he is entitled to get a chance to earn a lot of money. as it did in 2010, there may not be many people who believe in Bitcoin because at that time Bitcoin is still new and not very trusted, but the fact is that Bitcoin is now one of the most valuable assets and people who belittle Bitcoin on 2010 will be very disappointed. they may lose some of the same golden opportunities we get today. so when there is some speculation that shows an impossible thing then we only have two choices that follow or not.

Lucius

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People are interested in BTC mostly because of the possibility to bring them big profits,as you say 1$ in 2010 now worth 58k$ and if you invest at the beginning of this year you will make very nice profit also.Many will say that BTC is digital gold and most people want to own at least one small part of that asset.We can only assume that demand will be even greater in the years to come,and next halving is in year 2020.This means reducing production by half compared to today,and there is 16 680 825 BTC mined so far from 21 million.It may seem that the 4 million is big number,but by the year 2032 almost 99% of all BTC will be mined-so if you want to get some now is the time

n4poleon

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Financial sovereignty. Power tends to corrupt, and absolute power corrupts absolutely. When you put people in power they will abuse it. When you deposit your money in a bank, is it still your money? Maybe, mostly likely not anymore.

SMB-2525

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Bitcoin has many of the attributes of gold as a store of value.
People want to hold Bitcoin for the same reasons they want to hold gold. While gold has been relatively flat, the recent increase in the value of bitcoin is attracting more investors.
It is interesting to me to see die-hard gold bugs poo-poo bitcoin.

One thing that is attractive is that the supply of BTC is known and fixed. It does not change no matter how high the price rises.
In the case of other commodities, the higher the price, the more supply. This is because it becomes economic to "mine" marginal sources as the price increases.

vltnqefi

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Quote from: rayymat on November 15, 2017, 08:25:34 AM

because after every trx bitcoin is getting burned and due to loss of so much private keys, demand is ever increasing because it is father of all currencies and it is base currency of all exchanges over the world

Yes, I think that death wallet account must be far more than imagine, a lot of COINS forever "disappear", perhaps we should thank the people of contribution, further contributed to the scarcity of the currency.
At present, the mining difficulty is still increasing, so prices will definitely continue to rise, in the long term.

rayymat

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because after every trx bitcoin is getting burned and due to loss of so much private keys, demand is ever increasing because it is father of all currencies and it is base currency of all exchanges over the world

charlotte04

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Quote from: rockyshala on November 15, 2017, 06:43:57 AM

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.

Read More: https://cryptodaily.co.uk/2017/11/where-is-there-such-demand-for-bitcoin/#login

Simple, because it's new, and it kinda makes you rich much easier and quicker. Everyone wants to adopt it in an early basis.

aardvark15

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Quote from: rockyshala on November 15, 2017, 06:43:57 AM

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.

Read More: https://cryptodaily.co.uk/2017/11/where-is-there-such-demand-for-bitcoin/#login

Bitcoin has become a scarce commodity because there is a limited supply and fewer mined each year. The original demand is built from it being a way to store funds and a way to send funds anywhere in the world without relying on a bank or government. Also the anonymity of Bitcoin attracts users that don’t want banks and governments to control their money.

OmegaStarScream

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I'm pretty sure less bitcoins are being mined compared to the previous years, otherwise what's the point from the block halving. The demand is clearly coming from different types of people, investors, people who want a way out of the banking system, Darknet users, gamblers etc. and in these area, compared to fiat, bitcoin is much better.

rockyshala

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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.

Read More: https://cryptodaily.co.uk/2017/11/where-is-there-such-demand-for-bitcoin/#login

Topic: Why is there such demand for Bitcoin? - page 23. (Read 2640 times)