Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: kogs05 on April 12, 2018, 10:16:32 AM
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What do you think guys?
Give me your opinion.
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That's only because people believe, that it has a value. BTC is a great archetype of cryptocurrencies, but future are alt coins with real value in some form. I can give you an example. Nebula Network is a decentralized storage cloud with emission mechanism tied to their supply. That means it is not minned, but has a solid backing in computational power and disc space. Due to this fact, its rate of exchange will be rock stable and separated from Bitcoin. It's worth to read some about this project on their site, I thing there will be more coins like this one soon.
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Bitcoin has value because you can buy services/products with it. There are thousands of businesses worldwide accepting Bitcoin as payment, a drop in the ocean really, but that number is growing. Check out this website to find businesses in your part of the world that accept Bitcoin. https://coinmap.org/
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the bitcoin has a value because it can be earned here, for it's a job so you work to earn and your job is important to a company. everyone who knows it loves it.
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CRYPTO HEADLINES — April 13, 2018
1. Billionaire Tim Draper Sets $250,000 Bitcoin Price Target for 2022
Tech billionaire Tim Draper, an avowed cryptocurrency bull, has set a $250,000 bitcoin price target for 2022. Draper made the bold prediction April 12 at the 2018 Block (Chain) Party at his self-named Draper University in San Mateo, California. Draper also predicts that blockchain will disrupt and transform finance, healthcare, and many other industries. Read more at CCN.
2. $3.5 Million in Bitcoin Missing From India’s Coinsecure Exchange
In what may be the biggest virtual currency exchange heist in India to date, 438 bitcoin (BTC), currently worth $3.5 million, has gone missing from Coinsecure, and the exchange thinks an employee has run off with the money. Read more at Bitcoin magazine.
3. Russian Gov’t Will Block Crypto Industry Favorite Telegram ‘In Near Future’
Russian authorities have demanded ISPs ban the crypto industry’s go-to encrypted messenger service Telegram on Friday, April 13, just weeks after the project raised $1.7 bln in its ICO presale to support the development of its own Blockchain platform. Read more at CoinTelegraph.
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Bitcin is the best known cryptocurrency, because it was first. That's all. It has not any real value, poor speculation. Of course it will be years before it will lost top1 possition but I thing it may happen someday. There are already more innovative and perspective projects with rate of exchange separated from Bitcoin and that's solution for huge rate turbulences. Example of Nebula Network given above is good. I've also readed about this project and I agree that it may be a future of crypto market, maybe even Q2-Q3 2018.. who knows.
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bcz ut use all over the world..so its needd alll
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What do you think guys?
Give me your opinion.
Thanks for all of thoughts and opinion guys i really appreciated it.
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Bitcoin has a value especially to those who got a benifits from bitcoin .Bitcoins gives an opportunity to those interested and willing .People in the Philippines needs money because of poverty .
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What do you think guys?
Give me your opinion.
Here's the explanation to your question bruh.
Why does Bitcoin have any value?
Although cryptocurrency has become a household topic in 2017, what most households don’t understand is — why does cryptocurrency, such as Bitcoin, have any value? (Many actually think crypto has no value at all. But when you ask them why, they couldn’t answer because they have never really thought it through.)
In order to answer this question, we have to ask another fundamental one — where did currency come from?
In the early state of society, the value of a good or service was determined by the amount of labor required to produce it, and then the need for exchange of goods and services bred currency. For example, Bob spent a year to raise a cow and it took Alice the similar amount of labor to raise three lambs. Alice wants to buy cow so she exchanged Bob’s cow with three lambs. However, using livestock as a medium of exchange (barter) was very inconvenient so some people started to use gold instead. When gold was widely accepted as the medium of exchange, it became a currency. You may wonder, did gold come out of thin air and was abruptly assigned a value? Of courses not. Some people spent a lot of time and resources to mine gold so there was labor behind supporting its value. (The situation is more complicated under modern economy where owners of capital are compensated by profit, but we can skip it for now).
If you believe in this theory, then bitcoin has value. Simply put, some people are spending time and resources to build a transaction system, and get compensated with bitcoin. Just like gold miners expend resources to dig gold. So, rather than coming out of nothing, bitcoin is produced by labor through the blockchain building process.
I know another question comes to you mind — why do we have to use cryptocurrency instead of dollar? Cryptocurrency cannot gain value just because it requires labor to produce it. You can spend time and resources to produce something that is of no value at all, a stone spear for instance, because it is useful to no one. You are absolutely correct based on the subjective theory of value — value of a good is determined by our desire for it. However, you will also realize that cryptocurrency has value because it has great use cases and it is better than dollar as a medium of exchange.
Gold and silver are considered as commodity money since they have intrinsic value. Dollar during time of gold standard has intrinsic value too because one dollar was pegged to 1.61 grams of gold. Therefore, governments could not issue as many dollars as they want because gold is limited. However, gold standard doesn’t exist anymore. What we use today are fiat currencies which are intrinsically valueless. They are used as medium of exchange purely because of government decree. Is this something you should worry about? Yes. We trust dollar for now because we trust US governments’ creditability, the economic health of the country and the stability of dollar’s purchase power. If these conditions no longer held (like Zimbabwe or the U.S. during financial crisis), fiat currencies can depreciate rapidly.
Unlike gold or dollar bills, cryptocurrency are not tangible, making some people feel unsecure. However, they are actually more secured than fiat currencies once you understand the mechanism behind.
Cryptocurrency have several advantages over fiat currencies. 1) They usually are capped in quantity (e.g., there are at maximum 21 million bitcoins). Similar to gold standard system, it prevents hyper-inflation due to excessive issue of currencies. 2) Cryptocurrency cannot be forged because it is secured by cryptography. 3) The transactions costs are lower because no middlemen, like banks, are required any more. In the extreme, even if all governments and banks collapsed, cryptocurrency, living in blockchain, can last forever.
Currency is just a collective agreement. If enough people reach a consensus, what they agree upon becomes unimportant. We can use different languages to describe the same object; similarly, the choice of medium of exchange is flexible too. It can be livestock, cowrie, gold, note or simply a code. It took thousands of years to transition from barter to coinage, 400 years to transition from coinage to paper money and 50 years to transition from paper money to plastic card. This time, it may take only 15–20 years to make cryptocurrency widely accepted.
Credit to Mr. Erick Zhang
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Bitcoin has value not just for earning a money but especially it gives opportunity to young people and teaches them to manage and invest properly . Bitcoin provides good benifits and knowledge to the people .
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Bitcoin has a value simply because it offers an efficient way of transferring money over the internet without the control of any banks, however it is controlled by decentralized system network with a transparent rules. It is more likely a store of value and an alternative to banks, aside from that it offers also some services like you can use it as a payment method. I think this makes bitcoin have value.
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When we talk about value it is all about treasure. Things that we didn't give importance for us will easily to destroy, no worry to broke because no value, but if things that we give importance is very hard to end up for we treasure in our heart deeperly for we need it. Maybe for remembrance or for the necessary things to come.
So bitcoin have value because majority give importance to it, make it an asset, treasure, even investment in the future.
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because bitcoin as a safe investment made with a decentralized system the amount is also limited to only 21 million just the high market demand that makes bitcoin value continues to rise
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bitcoin is the first and well known of all cryptocurency it has value because many investors impresses the bitcoin and make it one of their assets to invest in the future the more people like the bitcoin the more value it gains
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As though Bitcoin is a currency, it is also known to be a commodity. It is one of the commodities in the financial mainstream of the world because it has a higher market cap. This reason adds up to why it has vslue
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bitcoin is a currency and bitcoin is a store of value. Read more details here . https://www.investopedia.com/ask/answers/100314/why-do-bitcoins-have-value.asp
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Similar questions to:
Why fiat have value?
Why silver, gold, diamond have value?
Basically, because people use and accept it.
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Because it is widely accepted and the creation was not weak. It becomes more valuable when the years pass by as the features of bitcoin wasn't cheap and not created for few hours or few years but it's for long term to survive to start the newly digital way of money.
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The value can be measure by the importance of the role in our society. The importance is what gives the value to bitcoin without any specific role of bitcoin it wouldn't have any value.
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Because bitcoin is very helpful and because of that many digital wallet to send bitcoin to whole wide world so thats why its very popular and that is the meaning why the bitcoin have value.
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for us bitcoin is also an investment and transaction that we use to get many benefits, and also very popular around the world, and I think the value of bitcoin in the future will be even higher than now.
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Because it is use daily all over the world. It is important and more people looking for bitcoin. They give more effort and importance to this coin. That's why bitcoin have great value because of people's desire and demands.
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Bitcoin has a value or a very high price for now, and I think the price that appears on this bitcoin because the agreement between the users contain the way of selling and buying.
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For something to have a value, it must be useful and it is a utility in several ways. It has properties such as fast, borderless, decentralized that makes it desirable. The value is based on the supply and the demand, where it is determined by the market which it trades.
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because it has an exchange rate and also the concept offered interesting so until now bitcoin increasingly jumped in price. Because of something to look for in the world of crypto trade,
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Because every people in the world that knows crypto look for bitcoin. Rich and poor have the opportunity to avail bitcoin as long as they have money. Without the people bitcoin does not have value because people who give bitcoin value and not bitcoin gives value to the people.
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No coin was created for none sense. In fact, every coins whether in crypto or in actual money there is equivalent value. That's why bitcoin have value because it is a coin.
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Because bitcoin is set up to provide an opportunity for anyone to try to earn income by utilizing the investment so the exchange rate is also inseparable from the demand and the future supply.
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Because lots of people know the importance in having bitcoin. The more importance it gives to the people the more value it has. It has brilliant value specially to those who already has earned a lot by the use of botcoin.
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I think it is useless to explain it in my own words, there is so much literature about this topic , on how it is better than fiat or gold etc. Google will help you.
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Bitcoin has a value because it is valuable, is it a good answer for you ? :) Next time come up with a better question please.