Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: jekz on October 23, 2018, 09:16:59 AM
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The value of Bitcoin comes from the same reason the US dollar does – it’s a useful form of money that’s used by people to buy and sell things.
While the US dollar’s value is supported by the government, which gives it a legal status and uses it to collects taxes, Bitcoin’s value comes from its code.
Although it’s not tangible, Bitcoin’s code gives it features of a traditional fiat currency like scarcity, divisibility, portability, fungibility, and recognizability. In addition, Bitcoin is decentralized, can be used without a middleman, provides some level of anonymity, is impossible to counterfeit, and has other features such as programmability.
But the most important reason for current Bitcoin value is that people want to use it to pay for goods and services, store their money, or simply speculate. The more the network of Bitcoin users and merchants grows and the more secure and advanced the system becomes, the bigger Bitcoin’s value in USD and other currencies can get.
Bitcoin value history has been turbulent, which causes some people to decide not to accept it.
One point to remember is that all currencies, both traditional money and cryptocurrencies, can lose their value. In the case of Bitcoin value today, that could be due to a failure of its network, new regulations, better alternatives or anything else that discouraged people from using it.
Bitcoin value chart can be found on pages such as coinmarketcap.com
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Bitcoin has value due to many people engaging and investors are always there to invest in bitcoin. I doubt it if there will be any altcoin that can match bitcoin
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Bitcoin is worth exactly the same amount of money invested in it, in our case it is capitalization, which has fallen significantly since the end of 2017 to the present time, which is reflected in the price of a coin!
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I think Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars. Rather, Bitcoin appears to have value for the following reasons: It is popular. In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin.
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Bitcoins have value because they are useful as a form of money.This can be measure by its growing base of users ,startup and merchants. Bitcoins value comes only and directly from people willing to accept them as mode of payment.
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Many countries are beginning to adapt to Bitcoin and blockchain technologies, various people are constantly appearing who invest in bitcoin and thus give it a huge demand for its services and further development.
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bitcoin has value. because there are parties that trade, and eventually develop into asset trading, because crypto is unique and has never existed, then bitcoin as the first coin directly above the stairs, bitcoin has value because of market trust, that's where it all comes from.
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It has value because it goes the same way with the US dollars, it is a useful form of money used by people to buy and sell, is more secure and advance, the bigger bitcoin values in USD the bigger other currencies can get
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Bitcoin have a value i think because the people want to have a Bitcoin to invest and they are pay so high to get Bitcoin.
And Bitcoin is have a limit supple just 21m Bitcoin in the world.
Thats why Bitcoin is have a high value.
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The simple reason is there is a community who believe in bitcoin, the value is decided between buyers and sellers, and how big the community is, as we know the total supply is fixed, so the more people use bitcoin, the higher value.
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The value of Bitcoin comes from the same reason the US dollar does – it’s a useful form of money that’s used by people to buy and sell things.
While the US dollar’s value is supported by the government, which gives it a legal status and uses it to collects taxes, Bitcoin’s value comes from its code.
Although it’s not tangible, Bitcoin’s code gives it features of a traditional fiat currency like scarcity, divisibility, portability, fungibility, and recognizability. In addition, Bitcoin is decentralized, can be used without a middleman, provides some level of anonymity, is impossible to counterfeit, and has other features such as programmability.
But the most important reason for current Bitcoin value is that people want to use it to pay for goods and services, store their money, or simply speculate. The more the network of Bitcoin users and merchants grows and the more secure and advanced the system becomes, the bigger Bitcoin’s value in USD and other currencies can get.
Bitcoin value history has been turbulent, which causes some people to decide not to accept it.
One point to remember is that all currencies, both traditional money and cryptocurrencies, can lose their value. In the case of Bitcoin value today, that could be due to a failure of its network, new regulations, better alternatives or anything else that discouraged people from using it.
Bitcoin value chart can be found on pages such as coinmarketcap.com
Yes you are right. Bitcoin have a value because btc have a amazing codebase. Nobody can not hack bitcoin network and people easily use bitcoin while buying and selling something.
Also bitcoin have a mining cost you know . If market will continue growing like that bitcoin price will be increase because of there will be more people in that market and they want to buy more btc.
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The law of demand and supply is a major factor that is used in bitcoin. When there is a high demand of bitcoin in the market, the price speculates, but when the demand reduces, the price diminishes. And that is why there can be losses at anytime. And this is same even with our native currencies. What makes bitcoin more interesting is its decentralized nature, and its codebase.
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Can I ask for those who answered OP's question
how does bitcoin get a value?
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While many claim Bitcoin has no intrinsic value, there are many things that makes BTC valueable, and why people have invested billions over the years:
- It is the most secure payment processing system on the planet, as well as the largest computer network
- The currency has a fixed supply with a fixed rate of inflation, as one of the first ever fixed-supply currencies
- Transactions are immutable, and there hasn't been a single fraudulent transactions on the blockchain
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Simple, we use it properly & it is a method of digital payment so that its dimand high.
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Bitcoin has a value that is why a lot of people are investing in it. People buy to make a profit. It has value in that it is an alternative currency to the fiat and also a better payment method.
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Bitcoin has its own unique features. Bitcoin technology is a new stage in the evolution of electronic (money), Bitcoin creates value. both for early investors and for new ones, providing more and more opportunities to use currency, the amount of which, moreover, is limited.
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bitcoin is a new and unique currency, so it is not a form but has a very high value, suitable for investors to collect a lot and sell it later .
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Following the truth, in my opinion, Bitcoin has the value because of some reasons:
- It becomes the first cryptocurrency and it has a very dramatic trip from zero to hero
- This coin has offered a new concept of investment technology that leads the growth of many other cryptocurrencies
- Many big investors believe that BTC is worthy for investment as they have made the big money from it
- It is easy to use, fast, and available for worldwide transaction without delay of banking system