Topic: Why will Bitcoin have value? - page 2. (Read 560 times)

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.

Bitcoin has value because Bitcoin is liked and chased by many people so that its value may be greater than the price. And it is also influenced by the fact that there are always buyers in the market to trade it which in effect always makes Bitcoin look very good. So the reason why Bitcoin is valuable, it's because there are already more people who love it.

This can also be an additional reason for Bitcoin because with more people willing to accept Bitcoin in any context, then Bitcoin will continue to be valuable and can affect its price increase in the market. Because when an asset continues to increase in demand, its value will also be better in the eyes of everyone.

The development of Bitcoin market is indeed experiencing very rapid development. more and more governments are starting to take an interest in talking about Bitcoin-related topics. this is what has quite a big impact on the growth of the Bitcoin market. when more Bitcoins are adopted by a country as acceptance for alternative legal means of payment, we will see Bitcoin in a good trend.
but due to limited supply, when all Bitcoins are in circulation and traded on the market. the value could just go wild. I'm waiting for the time when Bitcoin will experience scarcity in the market.

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.

I agree with you that bitcoin will always have value. The real question however is what the value of bitcoin is going to be in the future. Over the years we have seen a lot of volatility in the bitcoin market, 1 BTC has been worth 1 USD and more than 60,000 USD. Right now we are fluctuating somewhere in the middle. I understand that many people want a very high price for bitcoins so they can make a big return. But I don't think we are there yet. In my opinion it would be best if the bitcoin market would settle down and not change prices so quickly. The more stable the price is going to be in the future the more new investors will be attracted. I think the crypto world can still grow a lot when markets are a bit calmer.

I agree with your points except the one I quote above. I have also tried to correct this impression of bitcoin being a scarce commodity several times. I don't know how that concept emanated
According to Oxford dictionary, the word "scarce" means "insufficient for the demand."

Then bitcoin is not insufficient for demand. If I want to buy a million dollar worth of bitcoin today, I'll buy it successfully. Why then say it is scarce?

Over the years, a currency's notion of value has shifted from its physical characteristics to how quickly it is used in an economy.
Although Bitcoin exhibits certain characteristics of a money, its main source of value comes from its limited supply and rising demand.
If one bitcoin were to cost $514,000, its market capitalization would equal around 15% of the whole world's exchange market.

Bitcoin was originally created as a form of satoshi's dissatisfaction with conventional banking or money systems which do have many limitations, but over time a lot of public trust in bitcoin has made bitcoin increasingly popular and of course with this popularity many people are interested in buying it and making it an investment besides that the number of rare bitcoins makes its value increase along with the many uses and also the use of bitcoin in today's era of technological advancement, in my personal opinion that is the reason that makes bitcoin currently have quite a valuable value even though bitcoin doesn't actually have a real physical form.

You just made some clean good points here. Bitcoin has a good value and it keeps growing everyday till each and every single individual get hold of bitcoin in little fraction which would be of big monetary value then. To add to the list but few are as follows;

Security
With bitcoin, you can convert your huge amount of fiat and move about with it stored in your wallet and conveyed with your  mobile or Android phone. Possibly stored in your safe without anybody noticing that you have your assets kept there. Instead of moving about with bullion vans carrying huge bulk of cash about which would definitely attracts eyes to you, you can convert to bitcoin and move with it and nobody knows you have or carrying such an amount with you till you get to your destination.  All these I have mentioned above would take place without anyone noticing your identity which put you on the safe side and your identity would remain unknown.

Saves time and minimize stress

Bitcoin gained more value in time consumptions it averts. Going by the normal fiat transaction, if one would want to withdraw or make payment for services with involves huge bulk in cash amount, it would take the time of those involved to undergo some scrutiny by several agencies involved before clearance to do whatever you want to do with it, while conducting such huge transaction of such magnitude, you will have to pay for transaction fee very much higher than bitcoin but if you use bitcoin, the fee will be low and it would scale through very fast to the destination without any delay but in the other way, Fiat is not so. After passing through stress sending such amount of money, if the account receiving such huge bulk of cash has not received such before, they would need to undergo another interrogation before they have access to the funds. So you see the value attached to bitcoin.
There are lots of them which would be gradually revealing itself as time goes on.

Seriously, you have given some concrete evidence on why bitcoin will continue to have value.but I believe it is community that will continue to determine the value of Bitcoin, without no strong community I don't think the price of Bitcoin could have reach here with ways government is trying is best to destroy it despite the hackers who hack and steal some people Bitcoin for more discouragement. The demand and value will continue to  be increasing if only more people are joining the community.if not they not be anything like scarcity of Bitcoin despite Bitcoin limit supply.

Bitcoin will have value and will continue to increase because people believe in it, people believe that it will bring them a lot of value and many benefits that it has, which fiat or gold does not have.
Compared to the existing assets in the world today, it can be said that scarce resources are the strength of bitcoin, the supply is limited, and once the demand increases, the price of bitcoin will increase and not can prevent.

The reason been that bitcoin has bring alot us back to normal and you know in every human we do love and thing that will give us money and even alot of money,we  human love things that will bring food on our table and make us happy.
Human love things that have value,things that can stories for good so that we all do get ourselves involve in them so much and we make them have value because of the benefit it brings.

There are certain Bitcoin features that may seem very important for Bitcoin's success. One of which, of course, as you mentioned, is its fixed supply. There will only be 21 million coins. It can't exceed beyond that. However, is this feature enough for Bitcoin to have value? Nope. Any developer could create a coin that is also finite in supply, even lower than Bitcoin's. So, I guess what made Bitcoin earn its value today is the sum total of its features.

This is why Bitcoin is still here and still got value. Bitcoin will stay as traditional finance-like banking systems will stay. People soon will have just a lot of choices on what they will use like Bitcoin, Bitcoin is created decentralized, and everyone can have Bitcoin wallet and use Bitcoin. This is also why Bitcoin got value, because of it's function, it's created to have a value and will be able to use to our daily lives.

The value of Bitcoin is that it is essentially a magical entity.  Bitcoin is magic.  The great writer and science fiction writer Roger Zelazny wrote that at a certain level of development, technology is indistinguishable from magic.  Bitcoin is techno-magic! 

You can memorize 12 keywords and run naked on tropical islands.  You can have sex with a beautiful girl, while all your wealth will always be with you... Isn't it magic?! 

Then, on any device, by entering the magic Seed phrase, you can access your bitcoins. 

Bitcoin is not gold coins or paper notes, it is money that can be stored in memory.  It's amazing!

People gets what they want from bitcoin and this create a continuous value they give towards it by not going for other assets than bitcoin on a specific level, moreso bitcoin has created this trust in people with providing the accurate solution to their long time challenges, as long as people will not change then bitcoin also remain as it has always even if there's change about the people, since bitcoin has not for once failed the trust will always remain in their heart as long as it exists, this is the value embedded in bitcoin from the people's perspective.

At present, most countries are not in support of Bitcoin, and a lot of people still see it as a scam, but if every country accepts Bitcoin, if there is global adoption of Bitcoin, it will add to the value of Bitcoin. If only people would see the real scam in banks and centralized systems, then they would understand the real nature of Bitcoin. 

Some people just have their money stacked in the bank, which does not appreciate in value but instead depreciates because of inflation. Some bank customers get scammed most often, and the government  gets to know your net worth at any time they want. It makes it easier for a third party (bank staff) to track your financial state.

But Bitcoin has lots of advantages over fiat, and when people fully understand that, its value will increase even further.

Regarding the question of the topic and why bitcoin has value, we all know bitcoin price comes from supply and demand and due to supply and demand in the market, the price changes over time and there is even same situation for many other assets however some people think bitcoin itself should have value from itself like gold while many people think it doesn't have.
And the reason of why bitcoin is against inflation is very much clear to me, like many other assets in the world if you save money in the bank you won't be able to save the real value of the money while by investing you will be able to even earn much more than the thing you invested there in the bank.

Anything that has a demand will have a value. Demand on the other hand has many factors affecting it to either go up or down. Bitcoin as an example has a demand not only because of its advantages over normal digital currencies such as faster and cheaper transaction fees. But more importantly, people are making use of its price volatility to generate profit which is somehow a domino effect which could result to a higher price meaning, higher profit.
I view it more as drive to earn profit than trust alone. If it is trust alone, people will easilu get rid of this technology whenever the market price is falling, but since all of us are wanting profit, we tend to hold despite of down trends in this market. Regarding alternatives, they do recieve the same attention but  since people are aware of how fast prices do change, they often move from one coin to another.

What you say about bitcoin is not wrong, but everything would be meaningless without human demand. Any asset without people's trust is useless, and human trust is what makes bitcoin valuable today and in the future. On the contrary, humans will only continue to believe in what gives them value, meaning the two are supporting each other. If bitcoin contains more features, and more technology but does not benefit everyone, we will still get rid of it immediately.