Topic: Why will Bitcoin have value? (Read 560 times)
there is a bunch of answers and all of it is a true but the simple term for me why bitcoin has value because its supply and demand just like the movie of wolf of wallstreet. people believe too bitcoin and demand increase and supply has only 21 million btc
Bitcoin has value because people or people use it, and see it as valuable, and use it as an investment, an asset, and also as an alternative transaction.
and if everyone stops using bitcoin in any form then it will plummet in price and thus do nothing, and also everything is based on supply, demand and perceived value, nothing more. And some of the advantages of bitcoin are:
- Limited and everyone knows the limit.
-Transparent and can't be faked.
-Can send in minutes.
-Governments cannot stop transactions, nor can they remove them from the network and cannot control them, and many others.
Major thing is the fake bitcoin. For now someone around the world could've created fake bitcoin and made good fortune. No one was able to do it, and the Same makes it more valuable against the fiat that can be duplicated. As people look for something precious and limited in supply it carries value.and if everyone stops using bitcoin in any form then it will plummet in price and thus do nothing, and also everything is based on supply, demand and perceived value, nothing more. And some of the advantages of bitcoin are:
- Limited and everyone knows the limit.
-Transparent and can't be faked.
-Can send in minutes.
-Governments cannot stop transactions, nor can they remove them from the network and cannot control them, and many others.
People try to scam people in the name of bitcoin, but that doesn't mean Bitcoin is losing its value. It is a way through which people understand better about bitcoin.
First of all, bitcoin has value for the same reason as paper and digital money — it is a convenient form of money that people usually accept.
It depends on each people to consider if Bitcoin is convenient or not as form of money.Some people think it doesn't have any problem to show if they're Bitcoin holders and just pay via QR code in just less than a minute, so they're think it's really convenient to use Bitcoin.
But some people think it does have a problem if they pay a stuff with Bitcoin since it would kill their privacy and they're worried if the QR code is fake, so if they send to wrong address, they will lose the money, which will make they think Bitcoin isn't really convenient to use.
All your points have a degree of truth in them but I also think that bitcoins have value because people have given it value and made it valuable, and people gave them value because it solved/addressed a problem for them.
Everything gets value because of the community and not the government or any other establishment. The government can pass laws and people protest against accepting it, the government will have no choice but to change that law. We're leaving in a democracy age and everything has to be done with democracy.
Bitcoin has valuable because it has proven to the community that it can be trusted and can be used without all the centralized procedure that have been imposed on us by the government. Bitcoin has value because it has proven its useful in borderless transaction and all you said.
Bitcoin is also mathematically backed with limited supply, all this are reason we believe in the currency. Bitcoin has value because it's owned by the people and not like other currency that we don't get a say in how they operate.
First of all, bitcoin has value for the same reason as paper and digital money — it is a convenient form of money that people usually accept.
Bitcoin has value because people or people use it, and see it as valuable, and use it as an investment, an asset, and also as an alternative transaction.
and if everyone stops using bitcoin in any form then it will plummet in price and thus do nothing, and also everything is based on supply, demand and perceived value, nothing more. And some of the advantages of bitcoin are:
- Limited and everyone knows the limit.
-Transparent and can't be faked.
-Can send in minutes.
-Governments cannot stop transactions, nor can they remove them from the network and cannot control them, and many others.
and if everyone stops using bitcoin in any form then it will plummet in price and thus do nothing, and also everything is based on supply, demand and perceived value, nothing more. And some of the advantages of bitcoin are:
- Limited and everyone knows the limit.
-Transparent and can't be faked.
-Can send in minutes.
-Governments cannot stop transactions, nor can they remove them from the network and cannot control them, and many others.
I think bitcoin can have value because, well, the supply is only 21 million. and the demand is very much, I think that's what makes bitcoin valuable. and the reason why people always want to invest in bitcoin, because many are speculating for the future, and many believe that in the future the price of bitcoin will be even higher.
Not just bitcoin but any asset that has a higher demand than supply it will have a very high value. Bitcoin is valuable today because everyone believes that investing in it will bring us high returns. From that thought, everyone rushes to find and own bitcoin, thereby boosting demand while the supply is quite limited, the price of bitcoin will increase very high.
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Quite some important points there shared by the OP, But i personally believe that the most important reason for the value Bitcoin has is because Bitcoin itself is useful to man, Bitcoin is useful to man in several unique ways, this means that people value their bitcoin differently, this is one of the reasons why a lot are selling while a lot are also buying..
-Many see bitcoin as an investment opportunity, which has given them the ability invest and make good profit for themselves in the future,
-while some other persons see bitcoin as a way to easily transfer money to their loved ones abroad, and they only buy bitcoin when the need to send money to their loved ones arises,
-there are still others that see bitcoin as a commodity they can buy and sell everyday for daily profit..
Which ever way see bitcoin, it in one way or the other contributes to the value bitcoin has today, Bitcoin can have limited supply, runs on a decentralized network and all that, but if man see no use of or for it, it will never have any value.
-Many see bitcoin as an investment opportunity, which has given them the ability invest and make good profit for themselves in the future,
-while some other persons see bitcoin as a way to easily transfer money to their loved ones abroad, and they only buy bitcoin when the need to send money to their loved ones arises,
-there are still others that see bitcoin as a commodity they can buy and sell everyday for daily profit..
Which ever way see bitcoin, it in one way or the other contributes to the value bitcoin has today, Bitcoin can have limited supply, runs on a decentralized network and all that, but if man see no use of or for it, it will never have any value.
I am pretty sure everyone has their own reasons for it, but mine is precisely for the decentralization. Yes, we could still see a lot of people who have too much, and centralized exchanges have most of our funds in their own possession as well, so if one day they end up saying "we are keeping it all and not allowing you to withdraw" that would be a big big big problem for all of us.
However, we should all remember that this is a very tiny chance that all of them would do that, not even the big ones would and it is going to be such an ordinary situation for people to live in a world where this happens. I would guess that it is going to be an exceptional situation that is unexpected and we shouldn't try to assume that. Decentralization is here to stay, and is the biggest reason for me without a doubt.
However, we should all remember that this is a very tiny chance that all of them would do that, not even the big ones would and it is going to be such an ordinary situation for people to live in a world where this happens. I would guess that it is going to be an exceptional situation that is unexpected and we shouldn't try to assume that. Decentralization is here to stay, and is the biggest reason for me without a doubt.
Bitcoin usage is essential and alot of people have pieces of it. Bitcoin is a good project with backup team who are working entirely to make it profitable in the nearest future. Close to a decade, bitcoin have been on the bull run. It's also a big target for investors and traders as the top investment in the crypto space. Crypto experts have already predicated the long bull run of bitcoin to hit $100k but all a matter of time before that happens. The best strategy is to wait for it's heavy dip and bagged the pieces equivalent to the capital at hand, and wait for the bull season to get triggered.
I think bitcoin can have value because, well, the supply is only 21 million. and the demand is very much, I think that's what makes bitcoin valuable. and the reason why people always want to invest in bitcoin, because many are speculating for the future, and many believe that in the future the price of bitcoin will be even higher.
Bitcoin has value because demand is increasing and supply is increasingly limited,
What, the supply is increasingly limited? What do you mean?The bitcoin economy continues to grow as more and more users own bitcoin, trade them, invest and use them as currency.
The bitcoin economy continues to grow as more and more users own bitcoin, trade them, invest in them and use them as currency. There are only 21 million bitcoin created and so far not all of them are circulating in the market. While some are lost due to user negligence and others, bitcoin is more likely to be said to be increasingly rare.
I'm quoting something that might help the OP to find an answer to his question and also helped him gain some understanding of [why bitcoin has value], because basically it's a common question that gets answered often:
Why do bitcoins have value?
Quote
Why do bitcoins have value?
Bitcoins have value because they are useful as a form of money. Bitcoin has the characteristics of money (durability, portability, fungibility, scarcity, divisibility, and recognizability) based on the properties of mathematics rather than relying on physical properties (like gold and silver) or trust in central authorities (like fiat currencies). In short, Bitcoin is backed by mathematics. With these attributes, all that is required for a form of money to hold value is trust and adoption. In the case of Bitcoin, this can be measured by its growing base of users, merchants, and startups. As with all currency, bitcoin's value comes only and directly from people willing to accept them as payment.
Bitcoins have value because they are useful as a form of money. Bitcoin has the characteristics of money (durability, portability, fungibility, scarcity, divisibility, and recognizability) based on the properties of mathematics rather than relying on physical properties (like gold and silver) or trust in central authorities (like fiat currencies). In short, Bitcoin is backed by mathematics. With these attributes, all that is required for a form of money to hold value is trust and adoption. In the case of Bitcoin, this can be measured by its growing base of users, merchants, and startups. As with all currency, bitcoin's value comes only and directly from people willing to accept them as payment.
Bitcoin's Utility & Growing Globally Adoption
Bitcoin's value is maintained as it is exchangeable with various products and day by day various circles, famous people, institutions, countries are recognizing Bitcoin around the world. Moreover, various business organizations are accepting Bitcoin as a payment system for their business. Because Bitcoin is such a global revolution, its value will always remain.
The global reception that bitcoin had about ten years ago can't be quantified with what it is today and that a milestone progress for the crypto coin, and it's a way to show to everyone that it's value is something that's utility bond and as such the tendency for more and more adoption is possible. Just recently as I heard some rumors that the Polish government gave binance a licence to operate within it's domain, yes despite it's a centralized exchange it indirectly going to boost the usage of bitcoin in that country which is something. Bitcoin's value is maintained as it is exchangeable with various products and day by day various circles, famous people, institutions, countries are recognizing Bitcoin around the world. Moreover, various business organizations are accepting Bitcoin as a payment system for their business. Because Bitcoin is such a global revolution, its value will always remain.
yes,, that's why many people invest in bitcoin because they see the advantages of bitcoin, but of course in investing in bitcoin you have to know the knowledge first. because if we do not have knowledge, we will lose.
It's not only a loss, but it can also lead to the wrong direction or the wrong way to start, because people who don't have the knowledge to become investors will certainly be very close to being led astray. Because investors also need knowledge to manage their finances so they are not easily deceived by others.Quote
but the funny thing is that now many people admire bitcoin because it has a high price, before the price was cheap , many did not believe it and underestimated it.
It is human nature that we are very familiar with in any case, because there are still many people who think that something that is cheap is not a good asset, even though everyone can explore it in more depth so they can find out about the good and bad of an asset. And when they already know thoroughly about Bitcoin, then they can make their own decision to believe or not to Bitcoin. 
It's not that bitcoin "will have a value" but it already has a value and in fact, it grew a lot to a point that people and even its founder didn't expect. Under the scarce resource category, you forgot to add or mention that there is a halving which greatly lessened the amount of new BTCs that has been mined.
The creator expects Bitcoin to have value and be adopted. You can prove it with how he designed the supply of Bitcoin and how Bitcoin will thrive after the mining reward is exhausted.
Bitcoin has value because demand is increasing and supply is increasingly limited, everyone wants to have bitcoin,
I don't know about Warren Buffet if he wants Bitcoin since he stated that Bitcoin is a "rat poison squared". there are influencial people that is anti-Bitcoin and this hinders the growth of bitcoin's value since they always use their influence to demerit Bitcoin.
almost all people have adopted bitcoin, bitcoin is the future, if you don't buy bitcoin now you will miss the price which will continue to rise, sometimes tweets like it can also make bitcoin prices continue to soar,
I believe there is more in the future. But for now bitcoin I hope Bitcoin will be adopted by different countries to strengthen its value.
It's not that bitcoin "will have a value" but it already has a value and in fact, it grew a lot to a point that people and even its founder didn't expect. Under the scarce resource category, you forgot to add or mention that there is a halving which greatly lessened the amount of new BTCs that has been mined.
I think the halving mechanism can also fit on the 3rd item of your list because BTC doesn't inflate and this is why it's also called as a deflationary currency. Bitcoin is volatile so it's value is not maintained. We also don't know the future. Sure BTC is doing great now but what if a new invention came out or a super currency which is better than BTC? There is also a threat when the super computers came out.
I think the halving mechanism can also fit on the 3rd item of your list because BTC doesn't inflate and this is why it's also called as a deflationary currency. Bitcoin is volatile so it's value is not maintained. We also don't know the future. Sure BTC is doing great now but what if a new invention came out or a super currency which is better than BTC? There is also a threat when the super computers came out.
No more! Bitcoin has value. Do you explain to a third party the value of $1?
Bitcoin is a reality! With more than a decade of existence, that question is a "Tx" confirmed many blocks ago, more than 772,680.
Bitcoin is a reality! With more than a decade of existence, that question is a "Tx" confirmed many blocks ago, more than 772,680.
yes,, that's why many people invest in bitcoin because they see the advantages of bitcoin, but of course in investing in bitcoin you have to know the knowledge first. because if we do not have knowledge, we will lose.
but the funny thing is that now many people admire bitcoin because it has a high price, before the price was cheap , many did not believe it and underestimated it.
the news from you is very good and will certainly be useful for people who are new to bitcoin.
but the funny thing is that now many people admire bitcoin because it has a high price, before the price was cheap , many did not believe it and underestimated it.
the news from you is very good and will certainly be useful for people who are new to bitcoin.
Bitcoin has value because demand is increasing and supply is increasingly limited, everyone wants to have bitcoin, almost all people have adopted bitcoin, bitcoin is the future, if you don't buy bitcoin now you will miss the price which will continue to rise, sometimes tweets like it can also make bitcoin prices continue to soar,
Most cryptocurrency traders accept Bitcoin, which has a diverse community. The higher the demand for cryptocurrency, the more value it will have. Bitcoin is one of the most popular digital currencies. which also increases its demand.
There are many factors that make bitcoin have value, as you mentioned, the greater the demand and less the supply of bitcoin, the greater its value. The value of bitcoin is represented in its scarcity, as there is a limited amount of bitcoin supply, and more than that will not be available in the future. Also, the trust factor plays an important role among investors in increasing the value of cryptocurrencies in general and Bitcoin in particular. Also, the benefit of using Bitcoin and its centralized characteristics and its most secure and common network is what make it have a high value among most other currencies, In addition to the adoption of Bitcoin by major companies and institutions as a method of payment, which increases its daily use cases and leads to an increase in its value.Jump to: