Bitcoin Forum

I think bitcoin has value. A real value ....... & u  ???

Everything has value only when you can either use it directly for your purposes, or someone else is willing to take it in exchange for some service or goods they provide.
Of course, unlike food or a house you can't use bitcoin directly to support your life. Direct use of bitcoin is only as a means of transmitting "ownership" of virtual amounts in a way that prevents counterfeiting. This use does not define the value that one bitcoin has, but it defines that bitcoin can have non-zero value.

In contrast, effort or time spent on mining bitcoins does not generate value:
Imagine spending half of the day carrying bags of sand from heap A to heap B, then spending the other half of the day carrying the bags back from heap B to heap A.
You spent a lot of effort but did you create value (unless you were going for the resulting weight loss and muscle training?)
The only relation between mining and bitcoin value is that equipment and energy necessary for mining is being purchased up to a limit where people don't think it's economical anymore, so the value of bitcoins is not created by energy spent mining it, but the amount of energy and investment spent on mining is limited by the perceived value of bitcoins that can be generated.

Onkel Paul

got it ....... best answer ........ thanks  ;D

Bitcoin has no inherent value. Cost for creation and time doesn't matter as long as bitcoiners wouldn't believe bitcoins are worth what they are. Take that believe away and they are worth nothing. So these two answers doesn't matter really.

It's different from other things like bread or something that has a value outside of being a currency.

Yeah i think it has value because of a mixture of the reasons you state in the poll.  The effort it takes to originally create the bitcoin is just 1 part of the circle of how it gains value.  Its lightweight value and fast, gold is heavyweight value and slow.

food and stuff like that have not an intrinsic value, they are only mandatory thing, which i find it to be different, in reality nothing has a real intrinsic value because, everything is only backed up by demand

everyhing is relative, for example for a robot foods is useless and thus it has no value at all

yes indeed , bitcoin does have a value , thats why we can do a lot of things with bitcoin that many people don't have an idea .... in the near future more people will get involved and hopefully everyone will get to know how important Bitcoin could be

None of the above.

Bitcoin has value because it is useful.

If a lot of people believe in something and value it, it ofcourse develops its own value. For example, let's take one of the classic situation... A lot of people believe in God regardless of any proof of the existence of God. It gives them hope and it surprisingly, also ends up creating a lot of job opportunities of people :P If a lot of people believe in something, it always ends up having a value. Therefore, bitcoin= Very valuable.

I would make multiple votes if I could, it has value because people believe it is valuable. It has value because peoples time and expense creating it is valuable. Pushed to make one vote mine was it is valuable because people believe it is valuable.

When someone trust to something, it will turn into something valuable if more people more trust on it.There're may some qualification that lead into something valuable. For bitcoin, it become valuable if it has function that everybody around the world can use them for their need.

So it depend on how much trust that bitcoin got to gain the actual value

Bitcoin has a value. Direct means of using bitcoins won't give you any value. There is no physical transaction involved. The value of bitcoin can be measured by its worth of transmission of "Ownership". Unlike propertey or food , bitcoin has a non zero value without existing.

i think bit coin has value. it has a scope of growth in future too. using bitcoin is fast, feasible and keeps the secrecy. best part it has high liquidity. according to me it has a large scope of expansion and will be really valuable in near future. so better start earning and investing in bitcoin, because it will reach the skys ! ;)

Of course it has value. Bitcoin can buy things or has value if exchanged in turn for other materials. The best part is it also has amazing profits for the investors and you can make transactioons anywhere in the world in  a heartbeat.

what is the value of a world wide public ledger? hmm....  ::)

Though it's a difference. If you have bread then you can eat it in worst case. When you have bitcoins and no one wants them then you have nothing. The same goes for fiat paper. Things you need for your life, like things to eat, have a value in it's own. You don't need to sell them, you don't have to care about someone wanting it, you can use it for yourself.

If we didn't think it has value then I doubt we would be here. Bitcoin has more value than fiat currency which is essentially made up monopoly money that banks print on their own whim. At least bitcoin is decentralized. I think all currency should be created in such a way but obviously that's not in the interests of the powers that be.


Surely you can argue the blockchain has a value outside of bitcoin. Many things can be built on top of it so there's value there.

they still have a relative value, not an absolute value, nothing has an absolute value, and with bitcoin if you think about it it's actually the same you can build something on the blockchain that would help to speed up your activity, if you need to move information to another side for example

It sure has more value than any paper currency, and people think that's very valuable.

So yes, Bitcoin has value and it will likely increase as more people find it useful.

The market rules. I have an old picture in my wallet. It's worthless to everyone, but it's very valuable to me. Maybe 1 million people say BTC are valuable, so it's definitely valuable. That value is hardly related to the cost of mining, but everything's like that. When department stores are making sales, you see plenty of stuff with a 50% rebate. The value has changed but the goods didn't.

Of course it is valuable and has value. Since bitcoin is used as a payment method, an investment method, easy transactions can be made through it. It does have value. Anything that can gain some other commodity for the exchange of that item is of value.

It certainly does have value, the reason however is being discussed regarding why it has value. First of all, I'd like to say that it is not just an internet token, that statement is wrong. Bitcoin isn't backed by time, time doesn't 'back' anybody. People saying Btc has value, because, it costs to generate & confirm transactions is also wrong as the day people stop using it, there will be no transactions which means no value. It all sums up that bitcoin has value because PEOPLE value it, the day they stop that, bitcoin will come back to nothing, just digital scrap.

Everything that has value, has it because people collectively agree it has value.

Even gold is only valuable because people want it. The prices go up in part due to the finite quantity but that disappears if no one believes it has any value to begin with.

People think btc has value, so, it has value 8)

Value is all subjective, for certain people bitcoin has huge value, for some others it worth nothing

basically that. that's also what i voted for. as long as we believe it has value, we are safe. i hope more people in the future will think like this.

Voted the most popular, have to add I never knew it was before voting.

The thing is a lot of people think paper backed by nothing has value, so it has value doesn't it.

BTC has value because it A, is worked for with time from many people and B, because people value BTC is why BTC has value to those that value it.

No doubt, in a nutshell indeed Bitcoin has it's intrinsic digital gold value and it is really incomparable with any other currencies be it conventional or other new part time cryptos.

A paper currency would have more value than bitcoin if people started valuing it.. Nobody honestly values paper money for what it is, they only value it because it is backed my Gold. And a lot of people love and believe in the power of gold. Bitcoin, however, is not backed by anything except people's belief. If one day everybody stopped giving a fuck about bitcoin, it kinda dies. Like, really dies :P

Paper money hasn't been backed by gold for 44 years.

because it has an actual use in the industry, basically they need it, if you need it and thus you use it because it is necessary, it has value

Industrial use of gold is very low. Gold's primary use is money. It's second biggest use is in jewelry. Regardless, according to Mises' Regression Theory, something needs to have value exclusive of its use as money in order to be considered money (or perhaps good money). Gold has that quality. Bitcoin doesn't quite fit the theory even though it seems to work. So, maybe the theory should be demoted to Mises' Regression Conjecture.

Yes of  course . And it is used as a  payment method for a reason. Plus, bitcoins are super useful, no need for currency conversion because it is a world wide currency and you can make business transactions in the blink of an eye. Additionally, you can gain so much from it if you invest in bitcoins

I voted it only has value when people think it has value.  That is how I have always thought about any assist excluding maybe gold.  I don't even know if I should exclude gold.  The only reason I say that about gold as pretty much every person knows of its value.

I am glad people mostly voted "because people think it has value".

Even more correctly, it has value because someone else will value it in the future. There is a time aspect. That is why you can not deduce the current value from the number of coins and number of users. It is all speculation of what will happen in the future. This is with all money types.

Example: Let' say someone wants a bike so badly that he is willing to work for two weeks in his school summer holiday. The work will have a salary of the same as the price tag on the bike. But there is no security in this. It is speculation that the price of the bike stays put. This is not by any means guaranteed. The value of the money can go down (meaning all prices go up), or the bike specifically can go up in price. You make two deals, one before the work starts, and one two weeks later. In the mean time, you speculate that the bike price holds.

EDIT: Even better with a set of slalom skies, to focus on the time aspect. You work in the summer, and plan to buy something in the winter. In the mean time, you hold money, speculating on its future value.

People think btc has value, so, it has value

if people think shitcoin has value, than shitcoin has value. or paper money, or stamp, etc. because people give value. 

Obviously the market cap and trust in any currency 'gives' it value but as far as intrinsic value is concerned it has a small value, bigger than fiat, but smaller than gold, it has a value because it is finite but also it has a value because it is used as a unit of transaction itself. Fiat is like a big bubble, the banks keep printing money out of thin air but BTC is mined and is limited, like precious metals.

Everybody thinks that fiat currency is backed by Gold, and Bitcoin is not backed by anything so it does not value. And everybody thinks that Gold is better than bitcoin because it is expensive. Gold is not backed by anything, just like bitcoin. The only thing that makes it that expensive is because people value it so much, if people stopped caring about gold, it will all be worthless.

BTC have actually a big value
The value was made by us
People that use bitcoin,so simple.

Though the blockchain is only as good as bitcoin is. When bitcoin crashes then the miners don't have their reward, which will bring the usefullness of the blockchain down too.

Yes, a relative value. But that value is given to them because they act as a currency. Sure, bread is worthless to some maybe, but its worth is not lying in the believe that it's worth something. It's really worth something, it's independent from what others think about what it's worth. Bitcoin only has value because others believe so. So the value of bitcoin is given to them by believe. Other things though have a value that is independent of believe.

And the blockchain is bound to bitcoin. Without bitcoin the blockchain would stop to exist. It wouldn't matter anything anymore if it cost money and time to create bitcoins. It can be simply proven by checking out certain altcoins that dropped dead. No one cares anymore that they should have value because someone put work into it. If one would go with that argument then someone could build a house of mud and claim it has to have value since he worked 3 hours on it. It simply doesn't work that way.

Of course it does its worth real money

so if it was not tied with fiat, you will not think that it has a real value?

value isn't based on how much bitcoin is worth in fiat, but on how much people will use it for their normal day activity

Value is always tied to something else. If no other currency ever existed than Bitcoin, then the value would be derived from what people is offering for X good or service, which is true value.
Currencies in itselves don't have any intrinsic value, same for metals.

Ya everything has a value

For humans is easy to question value, what would happen if the earth did had free air to breath ? everyone would die right so why dont we value the air we breath and pay the government for it we are already paying for the water if we keep leaving in this system they are trying to control us with.

so if air gives value to life then anything that we create has a value .

You shouldn't allow people to vote more than once, it'll skew your findings.

Bitcoin, like every currency, metal, or item that has been traded in the history of humans has value ONLY because people assign it value.

I also think btc has a value and real value.
But you should add more options to the poll.

The concept of real value is questionable. In the meaning that the value is defined having in mind from which point of view we are discuss. A me like the concept which is based to the market. So the real value of something is the value that this thing has in market. In this kind of view bitcoin has without doubt value (even great value). One bitcoin worth in this moment that I am writing 237 us dollar. This is an enormous value if we have in mind the value of us dollar compared with all the other currencies. So it is very important to have some bitcoins in your wallet and trying to increase those as much as you can.

As long people are using power and invest their hard earned cash in hardware, Bitcoin obviously has value.

The people create the value of Bitcoin.

Supply and demand - the basics of economics.

Only if Bitcoin is used, then it will have value. Otherwise, it's just like collecting dead rats and trying to trade them at the supermarket.

People interest in something creates its value. There is an increasing interest in Bitcoin. Some university have credits on bitcoin, lot of new startups working in bitcoin projects ....

Voted!
I think the same, price will be higher, but not soon

I think biticoin like any other currency it has its own value, and it depends on the economy whether the value of it will rise or fall.

Of course it has but not as stable as it is but it has value just like any other currency has value it may rise and fall it depends on the economy I guess.