Bitcoin Forum

Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?

I don't think there's no definite answer to that, for me there's really no physical value to bitcoin, it's kind of the same as fiat, it's the people that makes the value for those things and I don't see anything wrong with that because to be honest, almost anything valuable have the same scheme like gold and platinum, they're just metals and they're shiny.

This issue is as old as hills. I used to think that Bitcoin is just a toy or a Ponzi scheme. But now I am getting crypto and economic education at the university, and I have completely changed my opinion. First of all, I want to ask you if Gold is backed by anything, or why do many people think that it is one of the best investment? What is more, as Bitcoin is adopted by many companies and even whole countries, it become supported by their ecnomics.

Most people say gold has historic significance to it, it's also used in industry quite a bit and is used a jewellry as well as other stuff.

The main thing increasing the price of gold is the miners profiting off it though by producing a scarcity, most industries can use platiumum better than gold too so there's less of a reason for its uses.

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On the what is bitcoin backed by, what is currency backed by? There has been a lot of studies on the economy and many have found that the largest investments are in derivative assets (often people buying portions of assets or buying assets against other people selling them - while neither hold the asset - which does seem quite odd).

I've generally considered an investment in Bitcoin to be an investment in its: name, developer community and infrastructure at least.

Whether you think bitcoin has "real value" or not, the fact is, people do; hence why it's worth $47,000 at this time of writing.

And if you're asking us if you should "invest" in bitcoin or literally anything, then you probably shouldn't if you're not willing to do the research yourself.

Read this:

https://www.bitcoinisdead.org/well-actually/it-has-no-intrinsic-value-its-not-backed-by-anything

Gold is not backed by any asset like Bitcoin, nor by any fiat currency.  It makes me wonder if I should invest/trade in gold or not?

Fiat currency is not backed by any physical asset like Gold or Bitcoin. It makes me wonder if I should invest/trade in fiat or not?

Bitcoin doesn't need to be "backed" by anything. It is an asset. It has use. It has value. It has demand. It has supply.

Dont invest on something you don't understand. The internet is available for.you to do.some learning.

If you still dont understand BTC why its value is high after that, maybe you need to learn why or find another investment that you understand more like real properties. Or simply gold, it does sound like you understand it more than BTC.

There's no such thing as real value. Value is entirely psychological phenomenon, it doesn't exist in nature independently from humans or some hypothetical other intelligent life forms. The number you see on Bitcoin exchanges is as real as the numbers that you see on stock markets, foreign currency exchanges, etc.

The worlds reserve currency is the dollar, it is not backed by anything other than the "good faith of the United States government".  People need to get past the "it's not backed by anything" argument.  It's value lies within it's breakthrough technologies (blockchain, available to all, easy/cheap transfers etc).  Things have value because people believe they do, and that is no different for bitcoin.

What does back fiat? Can you explain? We have to trust that fiat have value just because govt told it has value. There's nothing else. Bitcoin has real value because it breaks all this centralize control over the monetary system.

If you wonder why should you invest, don’t, please.

If you just wonder if you want to invest or not, then don't make yourself do it. But before leaving and wondering about Bitcoin, maybe you have to take a look at what happens to this stuff, from $0 to $60k, might you also have to wonder why it goes like that if there is market value. That price will imply that it was really useful to the community.

That you are right saying it was not backed by any physical asset but it was not how we measure the value of Bitcoin. And in fact, we valued Bitcoin more than Gold and Fiat money as this was very usefull in the current era. I think you have to consider that somehow.

If Bitcoin is backed with gold or fiat, it's no more Bitcoin but digital gold or digital fiat. Bitcoin stand by his own value, same like gold or fiat stand by his own value too.

The real value of Bitcoin is 1 Bitcoin = 1 Bitcoin, it will never change and always 1 BTC = 1 BTC.

Supply and demand are what give value to gold, bitcoin, or any other asset. Without supply and demand, gold would be worthless imagine you have 1m of any asset but there is none to buy it, that's why people say supply and demand is giving value to any asset and the source of supply and demand is the interest of buyers are sellers, if any asset is useful enough for the buyers there will be more demand and this can give that asset more price level. We have the same story for any other asset, besides that, the p2p feature you can get while using bitcoin can be the value and actual benefit of it.

If I say that Bitcoin has a real output, would you invest money in Bitcoin immediately? Don't be afraid of the lack of physical value that you see with the naked eye, but the level of benefits can be felt and even we are left far behind by big investors who don't think long about the value and essence of Bitcoin. Why are they so convinced that they spend millions of dollars just to own Bitcoin? Well you have to think that far.

We don't even realize that Bitcoin has survived for so many years, why are there still people who doubt its existence? That's because they think a lot but there is no concrete evidence that can explain the physical value of Bitcoin. You just have to think about whether everything must have a physical value? when all alternatives that have physical value are always fully controlled by the government. Don't you want to have your own asset freedom?

Bitcoin does not have physical value, but there is a great value of trust in each one. How much you believe in Bitcoin, means that the value of Bitcoin cannot be made physically.

Gold

• Scarce - The annual production is known, the supply grows slowly and in predictable way. There are few available, is scarce.
• Falsability - gold have the bigest density in nature, any thing mixed to it decrease its weigh, it is not falseable
• Durability - virtualy infinity
• divisibility - High if greater than 1 gram
• backed by physical laws

Bitcoin

• Scarce - The mining reward is constante, there are a max supply of 21 milion. There are few available, is scarce.
• Falsability - not falseable if the network is healtly, possible with 51% atack but improbable
• Durability - infinity unless a catastrofic event of turn off the majorities of computer or the internet in the world, istill possible to restore the network with stored blockchains.
• divisibility - High, until 1 satoshi (0.00000001BTC)
• backed by crypto and math laws

See, bitcoin have very close properties and values than gold, but can be more easily transacted and transported, and is insensurable. The same way due to those propertyes the humanity valuate gold, may valuate BTC equaly.


ref:
https://fasam.edu.br/wp-content/uploads/2020/07/Bitcoin-A-Moeda-na-Era-Digital.pdf

Wait, is it really? If a gold mining company/entity manages to mine X amounts of gold, is it even broadcasted to a certain entity(probably besides the government for taxes)? Do we even have an official "X amounts of gold mined this year" metric? We don't even know how much gold is left on earth.

First, bitcoin have stronger scarcity properties than gold.

I've heard that the annual production is correlated with the price, and is know, don't have the source.

There are huge amounts of gold in the center of the earth, and possibly in some asteroids and planets. But until now they are inacessible.

If you want Bitcoin to be backed by physical assets, you could simply and securely print the private keys on any physical asset(or link the keys to the asset), anyone who owns the private keys owns the physical asset, or anyone who owns the physical asset owns the private keys, and the coin with the private keys will be considered backed by physical asset. .. It's just as simple as that.   I don't think fiat or even Gold can do this

Maybe, maybe not. But regardless even if it's the case that it's correlated, gold's "annual production" metric is definitely going to be inaccurate as heck, as the metric would be based on assumptions, not factual data.

if you don't know if bitcoin has value or not then don't buy bitcoin.

How do you derive the term real value? The fiat is determined by global standards and the demand and supply and same is the case with bitcoin also.The market forces of demand and supply determines the real price of bitcoin and you can buy/sell at that price so how do you recognise the real value of any assest? The gold standards have been taken off long time and still government don't disclosure these things so don't get fool with gold or silver backup.If you can purchase something with bitcoin it means it has value.

Every commodity that has a relative price does have real value. Back to your question.
Yes, and Gold is also not backed by any physical asset but Gold is a physical asset itself. However, Bitcoin or Gold don't need to be backed by any fiat currency before it can be considered as an asset, not even the fiat currency that's backed by the government that cant be totally trusted.

If you think much about the negative thing said about Bitcoin you may miss the opportunities it represents but if people like Kiyosaki whose have to make a lot of people Millionaire through his economical knowledge and novel considered Bitcoin to be the future of financial investment said it publicly. Besides, if the financial institution also invested in Bitcoin what proof do you need to understand the potential of Bitcoin.

These are common questions and had discussed many times on the forum. If you spend a few more time on the forum then you will get your answer. Many users already replied to your thread, so hope you got a few basic ideas. I want to add few more things.

Before investing anywhere you should research very well in any field, either on Bitcoin or real life. Since we are talking here about Bitcoin investment then we should know what is that and how it works. Bitcoin wasn't created as an investment scheme to be honest if you read the history. But due to popularity and volatility, we make it as an investment s heme. But the reality is, we are buying Bitcoin which is cryptographic electronic money. This isn't backed by any single asset, but this is backed by the worldwide community.

If you don't know the history of Bitcoin then learn first. Then the fear will away from you. It's a virtual currency, doesn't necessarily to backed by any assets, and Bitcoin mining continues. The total circumstances are different from fiat or Gold.

Just take a deep research on bitcoin first so you will know its real function and its real value. Then maybe by that time, you will know already if it has a real value or not. There might not be millions of people who come to know and invest in bitcoin if it has no real value at all. You may not see it physically, like you used to see in gold, but you will know its real worth eventually if you start investing and end up gaining huge profits. One thing i can suggest, just don't bother investing if you are not sure of it from the start. It will only give you a headache.

OP, the decision is yours. If you still have doubts about investing / trade in bitcoin it is because with all the information that there is it is not enough for you.

I would recommend that you create an account on any global exchange and observe the markets that at some point you will also use and notice the dynamism and the amount of transactions, sometimes almost instantaneous.

This experience will tell you about the supply and demand of bitcoin and will encourage you to invest in either bitcoin or any other coin.

If you still don't have a brief research about bitcoin, then investing with it shouldn't be for you. Cryptocurrency Bitcoin still in a volatile character because that belong to that category, and digital currency only depends on the number of holders and not controlled by an underlying economy. Only thing I am certain here is that, when you review about the past history Bitcoin only got $700 that time of 2016. Nowadays it reached $48k, that's the proof of its strongholds until present despite of fluctuating market.

BTC is actually an speculative asset which has a significant value based on its demand and we've seen the progress of BTC for the past years which enables it to reach a 65k all time high value. Now if you can handle the volatility of the market, then it might be good for you but dont even think about diving in BTC if its not.

Anything has their own value it only depends on who would look at it,
Not everyone would appreciate something the same way other see's it.
And if you really want to invest on crypto you might as well study it first learn things about it not just jump in because of others success.

I believe no one is pressurizing you to believe in Bitcoin and crypto currency generally and at the same time know should force you to trade Bitcoin for you to make a living for sure that you don't know how to trade Bitcoin based your question above. Why do believe in your gait currency and why do you believe gold, is it because it is supported by the government of your country and has your government ban Bitcoin and crypto currency In your country? The early you realize you are making a big mistake the better for you because at the end of the day you will have no one but yourself to blame.

First of all even gold or fiat currency isn't backed with physical assets because gold itself is already a physical asset.
Well it's up to you wether you'll trust bitcoin or invest/trade in bitcoin or not.

Here's a video you might interest in to help you decide if you should invest in crypto or not. And do add some more research for yourself.

https://m.youtube.com/watch?v=eJfN9bR1Ox0

Difference b/w Bitcoin and FIAT is that FIAT is backed by central government and that's something missing in BTC. Probably that's why we see so much volatility in BTC price.

I do agree that bitcoin is just a piece a code and this code has made it to 60k$ in just a decade. The reason why I am investing in BTC is that it has a community that is present everywhere in the world and its growing. In the end, its just your personal decision why you invest in anything. @DannyHamilton very well explains this.

Any physical value, pretty sure bitcoin lacks that part. But it's not important, the code that it has and the faith that the people have in bitcoin is an enough reason to consider bitcoin as a valuable asset especially in this modern world slowly ascending towards technological advances.

^ To make it clear with your point, BTC has become valuable because of us, the adoption, and the stronghold of each holder who believes that BTC is profitable in the future. The more who believe in BTC the more the price flies high. BTC has no real value because it fluctuates every now and then and the value was based on the demand and supply, so there is no real value but as we have experienced, BTC has been increasing price since the start of creating BTC. Nevertheless, you cant compare the physical valuable assets versus the virtual ones, BTC was a pure code powered by blockchain technology.

if it has no real value then there is no supply and demand ,no market ,unpopular ,That's it !
actually in unity the real value in bitcoin is this that has been posted by Jawhead999
real value very true

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there is no prohibition on invest/trade bitcoin it's up to you ,for sure you don't sell at a loss ,that's it !
the answers from community friends in above are very clear ,OP should be reading

Bitcoin doesn't need to be backed by anything. Bitcoin backs (will back) other stuff just like how gold used to do it. So your question is fundamentally flawed. 1 bitcoin = 1 bitcoin as it was in 2009 and it will be in 20100.


Thousands of people became millionaires thanks to bitcoin. All those people can't be wrong, can they? Do you want to get rich? Then yes yes and YES, buy it. Not? Then enjoy staying poor.

This question is not for anyone else. but for yourself. what do you want to do with bitcoin? trading ? holding? all decisions in your hands. if you ask why people are still trading or holding bitcoin. there are many answers. like they believe prices will be much higher in the future . or volatile prices are of interest to them or something else.

There are several values such as intrinsic, personal, market. Bitcoin doesn't have intrinsic value, but that's the only value it lacks of I can think of. There isn't such thing as “real value”. If something is useful, we say that it's valuable. If some people consider Bitcoin useful, then it automatically makes it valuable for some. Thus, if you ever want to buy Bitcoin from those people who consider it valuable, you'll have to pay based on its market value.

It's not backed by anything, because it is itself an asset.

Although Bitcoin has no fixed value like Gold but even then I think bitcoin is an asset. Because, Bitcoin is used all over the world. Bitcoin has value and it has demand. It also has supply. So i think Bitcoin is an asset. I am using it as an asset.

Everyone has different reasons why they want to invest or trade Bitcoin, but most people invest in Bitcoin believe Bitcoin can provide a big profit.
That's why Bitcoin is valuable for people who believe in it, if there are people who are still hesitant to invest in Bitcoin, meaning that the person
does not understand Bitcoin. Therefore, if we have any doubts about Bitcoin, don't be in a hurry to invest in Bitcoin. learn everything about Bitcoin
until we really understand. Because it's not good to invest in something we don't understand.

The true value of Bitcoin is the network, and the more people involved with bitcoin the better, in other words, the value of bitcoin depends on who is using it.
So the purpose of people investing in bitcoin is because they believe that more and more people will get involved and buy it over time which makes the demand increase and that will make the price of bitcoin increase by different values.
So it's best to dig deep and understand it well before doing it, and I'm not commenting on the difference between gold and fiat with bitcoin as many have already answered and I think the OP is quite understanding. ;D

Bitcoin isn't backed by anything physical as gold or fiat. The backing is all connected to the technology. Why we say gold is valuable, because of its low availability. Gold mining process have been taking place for years, and in the same time period the volume of other metals mined is massive compared to gold. This is the reason for the increased price of gold. The same is with bitcoin, gold is all about the natural process whereas bitcoin is much about the technology backing. The limitation in availability makes bitcoin more valuable.

The key task of the creator of bitcoin was to develop a technology that allows transparent and at the same time anonymous payments via the Internet.

The demand is what gives Bitcoin its value. Fiat got its value from government decree, and gold got its value from its physical properties. So different sources of value for different assets. There should not be a debate about this in the first place because we are talking about many different types of assets many different ones. Gold has its own way of projecting its value, so does Bitcoin and so does the other cryptocurrencies.

Does gold have a fixed value? Nope, that's pretty much your answer for Bitcoin too. It's value ranges due to a variety of reasons, from the basic demand and supply, (In Bitcoin it's capped to 21 million coins), which is a large contributor to Bitcoin's value, especially as the time passes, fewer coins are actually available on the public. (Let's not mention how many are forever lost on the Blockchain).

Bitcoin isn't much different as a type of currency, as we think at least, that resemble existing fiat currencies.

Bitcoin is an network as then turns stronger as more people is involved with it, therefore, the value of bitcoin is proportional to its adoption
thanks folks for the replies ^^

If you want to invest/trade, you don't need to focus your mind too much on it. Just do it, it is still really worth doing if you have high intention in it, the Bitcoin value fluctuates from time to time which is influenced by supply and demand, here you just have to examine when is the right time to invest/trade. What is clear is that because prices fluctuate, this provides many chances/opportunities to gain profit from crypto.

a guy ran a code on laptop and generated bitcoins. he sold it for pennies beacuse he burnt the electricity for it.
so today miners burn electricity and sell the coins at $20k+ to cover the electricity cost.
and new inverstors see value in it and investors keeps growing.
lets say every human soul on this planet owns some bitcoin then who would buy. i will buy cos i want more of it coz greed played its part. and price will go up coz there are only finite bitcoins. and why do i want because its the borderless high liquidity money.

Bitcoin has real value physical or digital as it has a value in fiat if we exchange it in both forms. Bitcoin is widely known that has value nationwide and most of the Government is creating a regulation about  this which means Bitcoin is already accepted in the economy. Approval of Bitcoin ETF will seal this discussion because it will stable the price of Bitcoin for a proper valuation.

the value of bitcoin is solely defined by the demand on it by the people using it. it also has the same concept for fiat currency. if people don't want to use a certain fiat currency then its value will surely amount to nothing. this is the same as with bitcoin so if the people have no demands on it then the value of bitcoin will surely drop.

Bitcoin does not have the support of gold or fiat, but also think that gold also does not have support and currently there are still many who invest in gold. Likewise Bitcoin even though it does not have the support of gold or fiat there are still many people and large companies that are members of Bitcoin. This is a matter of your trust in Bitcoin, if you are still in doubt, you should not be rash in making decisions, find out more about Bitcoin, then you will fall in love with it. Bitcoin is indeed high risk but keep in mind all investments must have risks and profits, big risks will bring big profits too.

Bitcoin has value because we assume it has value, the same happened with all other commodities and assets that are out there, even money. Everything really. Value is an abstract concept that we base on things that are abstract themselves. So does bitcoin have value? Yes. Why does it have value? Because we said so. To put it simply, bitcoin's value depends on how people sees it. That's basically it. Bitcoin is backed by the dollar, dollar is backed by gold, gold is backed by the people who thought gold was so valuable, spanning from ancient antiquity until now. Value is an abstract quality, but it doesn't mean it's pointless. It's the things that we treasure the most, bitcoin in this case, that defines us.

Although bitcoin does not depend on gold or currency, it is not enough to prove that bitcoin is very suitable to be used as an asset for the future because bitcoin can stand alone even if it is not backed by currency or gold, meaning that bitcoin has proven to be more expensive and more and more investors want it. invest in it.

It’s value wll determine on how we use it on our lives,some see bitcoin no valueas they done use it but when it comes for traders or investors it i a big deal. Many were able to make profit or do businesswith bitcoin. This will only determine the value when we start to deal it in our life as using in trnsactions or just by havig it as an investment. The real value of it will be seen morein the future once the adoption get wider.

bitcoin is a digital currency (decentralised) not the same with other assets such stocks. so stop wondering why there's no physical asset for bitcoin,  and you know what?. its good to invest with such currency because there's a freedom and for sure that's the main reason as well why a million of investors preferred decentralised currency because of privacy and such what i have mention above which is the FREEDOM and of course the opportunity from it compare to stock market that's why crypto market always rocketed when there's a good news.

Bitcoin is an online version and requires it to have a bit of physical value, it is quite dependent on the regulator but for now, these people remain a mystery, so it is not possible to rely on this direction to think about the real value of bitcoin. Online review will have more real value when quite a lot of resources and demand are directed to bitcoin for payment, even trying to analyze other features to combine management and transparency in contracts, the most realistic value is as you say, one investment and one profit, the transformation is obvious when we are the official testers

Most things are not backed by a physical asset like gold. Unless you are buying gold.
But I can buy just about anything I need with BTC
And I can buy and hold BTC as an investment just like any other currency.

Look at some of the 'safe' stocks that people have invested in over the years.

Metals are not safe either click on the YTD price on rhodium (you will have to click on YTD):
https://www.moneymetals.com/rhodium-price

-Dave
 

Honestly sometimes i think how if there are no more people who believe in bitcoin and cause it to be no value, but i am in crypto almost 7 years start from 2014 and bitcoin still survived until now, and wonder bitcoin is already created before i joined. But in case people afraid but want to try, just like other investment types. Use only money that we can afford to lose, not only about decreased value but for possibility another bad things that can come anytime.

the more you doubt, the higher the bitcoin price, the more you will regret. to this day you can see for yourself how bitcoin changed the lives of many people, Doubt is just a trick of your mind, if you continue to doubt then good opportunities will pass you by.

Since bitcoin was created to act as an alternative to fiat I guess that's the reason it was not pegged to fiat or has any physical value,  btc is to stand alone as an alternative currency, a true decentralise currency for everyone, besides, btc is traded with usdt pairs for your convenience, if you intend to invest, now is the time before who knows we may see another bull run soon.

It's very interesting, we have some long talks about this, but it's not going to end in near future because most of the peoples never try to study and understand what is this. If someone uses mind then surely first he needed to have all knowledge about this and then post because it's very clearly thing bitcoin is cryptographic electronic currency which is backed by world community, and it's not needed any other back up.

Just like any other fiat currency or metal asset it's also in use and now big community is behind this all adoption is happening around the world because now those understanding are trying to have this in use case.

Do you know what makes something valuable or not? YOU, nothing else.


As the Austrian School of Economy teaches: The value of things is always subjective. You can be about to die in a desert carrying a gold bar, but right there water is more valuable, without your life the gold is worthless.

It doesn't matter how much it cost to produce, or how many hours an artisan worked in a sculpture, for you it may be thrash and for another person treasure.

This is the real fact of the value of things. There is no intrinsic or extrinsic value; its valuable to you or not, period. The consumer has the last word, not the producer. Never forget that.

Guess what?, the amount of people who think its valuable to them, and those who think its not, is reflected in the market. And the price is the result of both forces. If more people think its valuable, price goes up, if more think its not, price goes down, simple.

You can then ask why so many people think its valuable? That's where you have to start studying it, find the truth about money.

Backed in what? That's a promise made by people, promises can be broken. Once upon a time the USD was backed with gold, but that promise has long been broken. Do you trust people to keep their promises? With Bitcoin, there is no one to trust, the code runs as it was written and won't change because a politician or banker chooses to.

Keep studying and discover why its so valuable to so many people, regardless of what some FUDsters say, Bitcoin goes on.

Well, I can't blame them for why they ask as they wanted to have the knowledge and to clear their doubts as well but this can't just eliminate until trust has been gained. That for sure OP wanted to know why Bitcoin as a digital currency gains such impressing price improvement unlike real asset (gold).

The use of Bitcoin is just optional, the majority are still not convinced to use this as it was because establishments are not yet accepting this as a form of payment. That makes them wonder why it goes like that since the application wasn't so high as they see. Yes, they couldn't until such time that they will try.

Bitcoin doesn't need to be backed by Fiat or Gold, we all know that it is trustable.
Bitcoin is decentralized, who will back Bitcoin with Fiat or Gold? On the other hand, bitcoin is like Gold, is Gold backed by Fiat? I think no company in the world that backs all Gold with Fiat. By the way, if you are not really sure to invest in Bitcoin because no backed Fiat or Gold, you can choose other crypto coins.

Bitcoin is not backed by anything but its price in the marked is owed to supply and demand. And right now, there are many contributing factors why bitcoin continuously to be valuable in the market. The entities, countries, organizations and individuals that are involved in this market make it strong to sustain its market value. As day goes by, the foundation of bitcoin is getting stronger because of the stakeholders that are already into this market. So you don't need gold or fiat to back this but all the entities that are strongly supporting this new currency.

question like what OP delivered is a noob question but with intimate plans, he is considering both side, investing in bitcoin and investing in altcoin.
all he need to learn is the safety and the outcome of His funds for short or long term investing.
and also he ahs not showing interest in daytrading .
for OP, Best to Invest in Bitcoin but avoid day trading for your own safeties .

Bitcoin is not backed by fiat, gold or any institution but what makes it valuable is the people who believe in bitcoin right from the start that it was created. It started from scratch but managed to prove its worth to be tagged as digital gold of this generation.

On other side you're the only one who can decide if investing on bitcoin would be worth it because this depend on your belief and knowledge about bitcoin.

I suggest for newbies to DYOR it can help you to decide on what decision to commit.

Bitcoin price movements are based on supply and demand, why does Bitcoin get the trust of many people when Bitcoin is not backed by anything.
That's because Bitcoin is decentralized and open-source, this allows anyone to access the source code and see all Bitcoin transactions transparently.
And also all transactions do not require a third party, then the network is secure because it is protected by cryptographic algorithms. What makes
people more interested in Bitcoin is that Bitcoin has proven to be a source of income. Finally every year the popularity of Bitcoin increases and
makes Bitcoin more valuable.

It's no longer the era where physical assets is more valueable, the world has changed, everything is online and less physical interaction between people.
So i think gold is no longer as valuable as right now in the future, digital assets is starting to create a new era which people are much in demand with bitcoin and other cryptocurrency.
The real value of bitcoin is as the priec right now. When supply is limited and the demand keep increasing, the value of bitcoin is increasing also everytime.

Before asking here in the forum, I hope you have done your part in researching the advantages and disadvantages bitcoin has to offer. I'm guessing you have the resources to do your own research because you managed to post here, meaning you have the gadget and internet connection to look upon facts about bitcoin as well as its history to make yourself educated. You can browse the Internet. Check several news, articles, and pages that contain terminologies, basics, and fundamentals of bitcoin. You can also watch video tutorials on Youtube for you to grasp the ideas, concepts, and techniques in a better manner. It's really our responsibility to equip ourselves with the knowledge that we needed before entering something most especially if it is high risk. I still appreciate you reaching out here, but don't let the other's advice be your decision-maker. Countercheck it too and do your part as a potential investor.

Based on my insights, bitcoin despite being not backed up by any physical asset such as gold or fiat isn't really a problem because the value of something is based on the people who are believing and patronizing it, as well as based on its uses. Bitcoin is just like gold and fiat that have their own purposes and serves certain people. It has a system and is used in various manners. The market demand makes and maintains the value of bitcoin because they have seen its potential, hence decided to patronize it which has a chain reaction of moving the coin's position whether in an upward trend or downward trend, depending on the season. You can check the white paper of bitcoin over the Internet. From there, you can start to ponder whether if it's worth the risk or not depending still on your risk appetite. Best of luck. Hope you'll find the answers to the questions you're thinking of.

Most of the current value of bitcoin is speculative. That is, some people think it will be valuable in the future, so they want to buy it now for when that time comes. Another value of bitcoin in my opinion is scarcity and demand. People want it because of the perceived value of it. The supply of bitcoin is limited: only 6.25 btc are added to circulation every 10 minutes (approximately).

i come across your post history and find this post of yours


meaning you are not hesitant addressing bitcoin as cannot be stopped and also the mining technology will grow more.

so why asking this now? isn't it contradicting ? that you seems to be consulting us about your investment but you are trusting bitcoin from a far?

True, this has been always been discussed in Cryptocurrency circles. Bitcoin is not taken seriously before in its infancy. But look at what happened to Bitcoin and to the people that supported the cryptocurrency. Many newbies before because convinced in the long run that Bitcoin is the real deal, that it is not a scam. It has been adopted by countries, accepted if not legalized, and even though some issues did occur, it stayed resilient and more and more people are attracted by it.

Looking at the current market price of bitcoin I could probably say that this digital asset is much more high value than fiat so I didn't questioned why bitcoin isn't backed up with any real value assets because the people that supports bitcoin are the real value of these digital assets. Today the process of transactions has changed from physical contact to a long distance transactions which the fiat's are needed to be send into digital wallets to be able to send it electronically and many has prefer to keep their assets in digital than keeping it in real.

Even if it had been backed by gold or another physical commodity, you wouldn't be keen to invest in it because bitcoin, in such a case, would have had no potential for increasing in value. What would have been a point in investing in another gold derivative if there is already a bunch of them? Nah, bitcoin doesn't have to be backed by a shiny yellow rock. By the way, speaking of "real value", what things do you think do have real value? In my view, only entities without which humans can't live or survive in principle could be considered being of real value, or of vital importance. For example, oxygen has real value, water has real value, food has real value, etc. If there is an absence of them, then humans wouldn't even talk about real values because they would be dead already. Does money like bitcoin can have real value? I think yes, in some cases, because bitcoin allows people to get access to things of real value without additional permission.

when you say like that then what is the difference between gold and fiat.
Fiat is also not backed by physical assets like bitcoin, besides gold is not backed by anything else and it's the same as bitcoin.
and when talking about your title asking that "does bitcoin have any real value?" I think that can be answered at the current price. $50k right now doesn't that have value? I think you need to understand that.

Actually bitcoin does not have real and false value is almost the same as gold but with the development of prices that are increasing every year then everyone wants to invest in it, so in the crypto world we have to learn first some things that are very important to believe in themselves without coercion from others for certain reasons, And those of us who have been in the crypto world for a long time all the negative things spread on social media no longer care because we are sure that bitcoin can indeed be relied on for the future, so you must learn first before you invest.

you should look for more information about bitcoin so you don't hesitate to have bitcoin. at this time the price of bitcoin has reached $ 54,718 you can check it here: https://coinmarketcap.com/currencies/bitcoin/
now there are many people who invest in bitcoin and there are also those who trade for profit from bitcoin.
you should try to invest and trade in Bitcoin because the profits you will get are bigger and more certain than other cryptocurrencies. In general, cryptocurrencies always follow the direction of the bitcoin price, if the price of bitcoin goes up, other cryptocurrencies will also experience an increase in price and vice versa.

It's not backed as you said, but have you seen its value? Since we are talking about investments or trading, Cryptocurrencies may not have an actual or physical form and yet they come along with their own value, much better it is quite higher than the usual stocks.

In reality, all of them plays within the market just different industry. Both industries are volatile, but we can say that the Crypto industry is much riskier than usual since the market itself is pretty much unstable. But the return is much higher than the usual stocks, so Higher risk - Higher return.

Well I guess OP, is still in the denial stage wherein he/she can accept the fact that Bitcoin and Crypto industry itself is valuable despite the lack of physical asset like what have said.

I Think bitcoin is a digital currency. Gold is an old asset but bitcoin is modern thing.Bitcoin is most valuable coin in crypto market. 2009 Bitcoin was satoshi but nowadays bitcoin price around $54k+.Bitcoin is not backed by fiat but i think bitcoin is trustable coin.I Think bitcoin will be more development in future.

talking about physical asset support, indeed bitcoin lost and there was no support from there, but when you see from the beginning until now bitcoin is so strong, why do you still feel unsure about it.
bitcoin adoption is increasing even since bitcoin was created until now it has reached $50k you are still not sure about it.
Being careful is very good but thinking realistically is also very important. because if we look at the many adoptions and increases in the current bitcoin price. it is very illogical to say that bitcoin is still useless and unconvincing.

Have you asked why gold actually has value, and that value is constantly increasing, that is because it has a limited supply and demand is what causing the price to go up and down, and that same logic is what is making bitcoin valuable even though it is not a physical thing, bitcoin has limited supply and it is constantly being mined and at a certain time that supply will get so small, and there will constantly be a demand therefore the price will always be up, so you should defiantly invest in it.

Did you know that fiat currency also isn't backed by any physical asset like Gold. Then why do you believe in fiat currency? Literally the government can print as much as fiat currency as they want (but they won't). Then why does it have a value? If you compare fiat with bitcoin, you will see that Bitcoin makes even more sense to have some value than fiat. Do some more research. If you are convinced, then invest. Or else don't.

I know you will only convinced that bitcoin has  a real value if you start investing in it or use it as part of your life. For now, maybe you are not yet making some investments because once you make an investment, then you start it believing that it will gain more value from the time you invested. Just like bitcoin, it will not create value to some who don't know it either, but for us here in the crypto community, bitcoin will always have a great value. We wouldn't be seen here almost dying to own bitcoin if we know from the start that it won't have a real value. And for bitcoin, it will definitely have a greater value once global adoption takes place.

Make sure that you know exactly your investment because if you don't, it will only give you frequent losses. And of course if it has a real value or not. But when it comes to bitcoin, i can assure everyone that it has a real big value. Otherwise, we will not be staying here taking the risks if its not going to give us good returns. However, there's no guarantee that the profits will be persistent, but if you know how it takes to be a profitable one, then it will always gives you an edge over the others. And as the world's keeps legalizing bitcoin, the more that it will be visible to have a real value.

Your choice because its your money to use and not ours but as you can see then crypto market is flourishing which does simply shows that there is really a demand which it is just a waste
of opportunity if you do just let it slip specially if you do already see the chances for you to make profits then why not? Its up on someone decision to make and not ours.
Real value? it does have monetary value. Any issues with that?

Either bitcoin and fiat currency doesn't have any physical asset.
Fiat currency isn't backed with any physical value, it is a government issued which people used to carry to buy certain things rather than bringing a real commodity like gold to buy some things you need or want.

Just like bitcoin, it's your choice wether you invest or trust bitcoin to many any profits and convert it into cash (fiat). I guess that's a matter of personal choice if you should try to invest/trade in crypto.

but at least Fiat is physically handled not like Bitcoin that only thru internet that can be gone at any moment, though this wasn't my concern at all .
if time comes that Bitcoin is accepted as currency in many country , conversion will never exist since directly we can use this to pay out needs to transact .

If you don’t invest in bitcoin, then you will be among the worst investors.
This does not mean that bitcoin should be bought at any price, although a price of $ 60,000 with a 10-year investment plan can be very attractive.
Gold today is more of a problem because it needs protection, intermediaries in transactions and high taxes when buying or selling.

Leave OP alone now, after five pages of this topic, and ask a moderator to lock it. If he doesn’t understand why censorship-resistance, Bitcoin’s main value proposition, has value or is valued, then I believe we should neither encourage nor discourage OP. 8)

Why does it have to be backed by something to have value? If you buy a $300 skin for a weapon on CounterStrike... does that digital item have any physical value? Does the signature on a Dollar Bill, give you more value.... than the digital transaction that you are making with your debit or credit card?

We live in a world where there are digital currencies and payment options and none of those options have "physical" value.. other than the promise of some government that it will honor that transaction.  ::)

Any real value, if physical then it doesn't have. But if you are talking about it being asset then you have the answer and it is YES. People are investing in BTC and kept it ever since for potential growth in its price. If you want it to have a physical value, then btc being a currency must have a chance to have a physical form.

People who are hesitant to invest in Bitcoin, they are indeed lacking in knowledge. In fact, if we study Bitcoin properly, there seems to be no reason
to reject Bitcoin. I, who have made big profits from Bitcoin, have no problem with Bitcoin is not backed by any physical assets. The most important
thing is that Bitcoin can generate greater profits than other assets, that's the most important thing for me. I agree everyone has the freedom to
decide whether to invest in Bitcoin or not, but if we don't understand how the crypto world works, I suggest not rushing to invest in Bitcoin,
don't invest in something we don't understand. It would be nice if first to learn Bitcoin properly, after that we all can definitely decide what we should do.

Bitcoin is backed by a powerful decentralized network. First and foremost it is a decentralized asset that doesn't need any middle man to be transacted while giving full control to the owner.

Its intrinsic value lies on it being tied to Accountability, Divisibility, Fungibility, Transparency, and Scarcity. It is Censorship free and is not controlled by any Government or corporation. Its value is determined by demand. Here's why you should invest in Bitcoin

It's better to learn first the whole background of bitcoin and certainly all its basics so you won't have to question if bitcoin has its real value or not. After all your studies, then it's time you can answer your own question. If you are now convinced, then make a move. But if you are still hesitant because its not even backed by a reliable group or entity, then you're free not to invest. After all, bitcoin is only for those who understands its nature. Just come back when you think you are ready to take the risk. 

Do you think OP leave without having an idea what is the real value of bitcoin?

OP should have a bit of research into the basic information regarding bitcoin so that OP knows its function it. If OP understands everything he will understand how to keep a good value in bitcoin as one of your best assets. I think we need to encourage people like him who have got courage on bitcoin and soon one of the biggest investors, who knows.

I’m very confident that OP will leave WITH having an idea that the “real value” of Bitcoin is what the open market determines what that real value is. Because of Bitcoin’s value proposition as a censorship-resistant cryptocurrency, as a hedge/fall back/back up to the current financial system, as an asset for self-sovereignty, and partly for speculation.

Well, if you absolutely need it to be backed by something physical, I would say the electricity that is produced and used for mining bitcoin is quite physical. Other than that, people have traded their fiat (which is supposedly backed by gold) in for bitcoin.

So the value seems to be quite real to me. Not sure where people get this idea that bitcoin isnt backed by anything or that its purely speculational in nature.
What even is speculation? Speculation is just guessing how much value bitcoin will obtain in the future.

The value itself isn't really speculated.  :-*

Bitcoin is backed by the mining equipments - ASICs, the cost to set up and do maintenance for mining farms, power cost. They are real inputs to mine Bitcoin so the value of Bitcoin is real and backed by several real things physically.

Bitcoin is backed by the blockchain technology and its network is actually decentralized that makes it better than many other crypto blockchains.

There are people buying and selling bitcoin, there are people investing in assets using bitcoin, bitcoin is already legal in a whole nation, bitcoin is being legislated in many countries, bitcoin is a legal asset in many countries, but perhaps the most important thing is that there are people using bitcoin and that generates something very valuable "trust", if you do not have it there is no problem it is easy to invest in something else.

It is all about trust, because one cannot make a person feel it's value. Value of bitcoin in decimals during its existence. Later it started to grow gradually and has now marked a big change in value. This is all because of the increasing demand. If it hasn't got any real value the demand could've diminished with time rather than growing. So, real value of bitcoin can be felt by the one who believe in it.

a question like this would be possible when we were a few years ago in the early days of bitcoin, maybe this question would be a very good one. but for now I think there is no need to question things like this.
Since many countries have legalized bitcoin, it has even become a legal tender, besides that bitcoin adoption is increasing, investor confidence has been tested when talking about it.
So, why are you still hesitating? what do you still have doubts about with the sheer amount of evidence available.

The influenced in value comes up with the people who use the system, Bitcoin as digital money is already been embrace. More now with supply and demands, the more people who invest to hold, the more pressure to push the value up. And yes, trust from those who are in this market really helps this asset. There are many players now and unlike before where everything depends most from speculation, now that there are countries and businesses who acknowledge the usages and existence of this currency, it's now a valuable asset to hold and serve as a good opportunity to invest your money.

Bitcoin's value is clearly determined from its supply and demand. The more demand for bitcoin, the higher the value it gets. So when you see that bitcoin is very expensive today, then simply its because the demand is already huge. And nobody would last long in this crypto market knowing how volatile it is, when in the first place these crypto coins aren't no value at all. I suggest OP make your own research first so you will know how valuable bitcoin is. When you think you are not hesitant already, then start investing as soon as bitcoin price starts to drop so you can gain higher profits when bitcoin reach another all time high.

I agree but it is people's obsession with gold. They love to wear it in the form of jewelleries only to flaunt it. So they are ready to pay high value for it but that's not the case with bitcoin.

Bitcoin is a digital asset that does not have a physical form so the value of bitcoin is very dependent on the community, as long as bitcoin is actively used by users, bitcoin will be valuable but if it is abandoned then bitcoin has no value so bitcoin has no real value.

True, Bitcoin is not backed by anything, because Bitcoin is backed by Bitcoin itself depending on supply and demand. Likewise with Gold backed by gold itself.
I agree that Bitcoin is a valuable store of value or digital asset. so that it is feasible as an investment for the future, we can see the price of Bitcoin continues to grow from the past until now.

And it's far from being abandoned by the world itself. There will be people that are going to abandon it but it's not going to be fully abandoned by everyone who believes in it.
The fact that the adoption rate is increasing, that only gives the idea that bitcoin is on an unstoppable train and very unlikely to go on that path that you're situating it.

Most people here are bitcoin investors and you have their experience as an example in many different threads, but the final decision of investing or not is up to you and nobody else.

You are right, bitcoin isn't backed by any asset. So, aware of this fact and aware of many other risks an investment in bitcoin involves do you think you should invest or not? Does the potential returns worth the risk you will have to take?

Actually our doubts about Bitcoin can be answered if we have knowledge about Bitcoin, there is no need to rush to invest in Bitcoin. If we invest
in Bitcoin on the advice of others, then it's no wonder we will easily panic and end up losing money when investing in Bitcoin. It must be
remembered that investing in Bitcoin is very high risk, so caution is needed. Actually not only when investing in Bitcoin we need knowledge
to be successful, all other assets do the same. Because we will lose money if we invest in something we don't understand, so it is very natural
that there are still very many rich people who refuse to invest in Bitcoin, even of them hate Bitcoin. That's actually the main reason because they
don't understand Bitcoin, if they really understand Bitcoin then I believe people will have no doubts about investing in Bitcoin.

Do you think Bitcoin will be abandoned? I don't see a sign that Bitcoin will be possible to leave by communities. Moreover, we can see that more top people and big companies join Bitcoin investment. Even, a country or a government like El Salvador is enthusiastic to have Bitcoin as their national asset. Is this a sign of Bitcoin be abandoned? No buddy, Bitcoin becomes stronger to exist and people will take care of Bitcoin forever. It will like they keep Gold.

I used to think that Bitcoin was just a toy or a Ponzi scheme and it would burst like a bubble then evaporate at any moment. As to what bitcoin is backed by, the currency is Supported by what? and future development , application and what is in practice But I think its value is in your mind if you consider it worthless it will be worthless and you will never Now selling it for a cheap price, but if you consider it worthless, I believe you will never spend money to buy and invest in it.

not in our moment now or in near future but possibilities are always there mate as we knew another one will comes out over and over again.
maybe because they are seeing the opportunity for now but tomorrow or in the days to come? who knows.

the word FOREVER isn't acceptable , because trust me there is no such thing . everything must end and that is reality of life.

In addressing the question in your thread topic – Does Bitcoin have any real value? What you're invariably asking is, "Are those who support Bitcoin really humans/sensible?"

Something that was once worth less than a dollar and it's now over $50k (might get to $100k, according to bookmakers), and you're still asking if it has value or not? You're question in itself doesn't seem valid on that premises.

Your comment, "It makes me wonder if I should invest/trade in Bitcoin or not?" Well, I think you shouldn't invest in what you know yet nothing about. Please, DYOR first before investing and don't be lazy about it.

Bitcoin is not backed by anything like gold or fiat. 12 years of existence and development and currently each bitcoin is worth about 56k $ (at the time of writing this review). I think you can feel bitcoin is really valuable or not?. The value of gold or fiat depends on human supply and demand and so does bitcoin. Bitcoin demand is increasing every day, someday Bitcoin does not need support from gold and fiat, bitcoin will soon become the best alternative to gold and fiat

Even at the present, bitcoin is not really backed by gold and fiat. But if you will compare the price between gold and bitcoin, its vey clear that bitcoin gets the highest value. So OP how can you be so confused if bitcoin has real value? I guess you need to make a research first on the current status of bitcoin so you will be aware how valuable it is. And as its demand continue to increase, its value too will keep on surging. Bitcoin may not be seen physically like fiat and gold, but its value is definitely superior among all other assets or investments.

Forever doesn't always mean never end, but can be a long time. What I am trying to describe is that Bitcoin to last a long time because more and more people are involved in Bitcoin. Moreover, the government allows them to have Bitcoin as a digital asset, this is the way that Bitcoin to be accepted in our society like Gold. Why don't if we predict it will last a long time? :)

Perspective:  Which has more value?

1.  A Fiat currency controlled by elected and non-elected persons and not backed by any asset
2.  A Fiat currency controlled by elected and non-elected persons and backed by a Gold asset which is leveraged (meaning that the actual market cap is greater than the supply of the commodity times the price)
3.  A digital currency not controlled by anyone, infinitely reliable due to decentralization, and backed only by its pure immutability

The answer is simple.

I advise you to invest in bitcoin now for me bitcoin is an asset for the future so if you don't invest now then you will regret it someday, bitcoin doesn't need support from anything like fiat or gold because basically bitcoin stands alone and without support from fiar or gold, the price of bitcoin is getting more and more expensive and bitcoin is gaining the trust of investors, so bitcoin is very suitable for investment. Now bitcoin has proven itself very worthy of being an asset for the future.

Bitcoin is backed by a very strong community, a community that exists all over the world.
Its value is increasing because we believe that bitcoin is a digital asset even more than gold.
The rate of increase in bitcoin every year has increased tremendously. Bitcoin is not aimed at ordinary people who do not accept bitcoin, bitcoin was created to overcome transactions that are difficult to do.
Currently bitcoin is supported by many countries and the limited supply makes bitcoin an increasingly scarce asset, because only 21 million Bitcoins are available.

In my opinion, apart from food and other basic needs, the initial value of goods or services is worthless, what makes the price is stock and users, bitcoin has a fixed stock but the number of users continues to increase so that it becomes expensive, as long as it is still actively used by the community, of course bitcoin will continue to be useful .

I do not recommend you to invest in bitcoin but suggest that you learn and understand first about bitcoin and its market. because many beginners misunderstand the basic concepts of bitcoin so they consider bitcoin as a fraudulent investment or fraud. bitcoin is not backed by real physical assets, but the market is sure and bitcoin is high and real value.

Yes, it is not backed with physical asset. As it is today the world is rapidly growing digital everyday, whereas Bitcoin is one of major crypto which is generally acceptable by virtually 80% youths  in the whole world, which means you can buy and sells through it in your home country and even outside your county. So since it is acceptable I think it can also be refers to as a great asset which is even more valued.

Encouraging people to invest to this market should always be accompanied by good information that aside from the benefits there's also big risk behind, Bitcoin indeed don't need any backup from Fiat or gold it's more on speculative investment, if you have plans to invest with this crypto currency, make sure to check and balance everything behind proper knowledge by educating yourself will help you a lot.

Make a good use of all those advanced ideas from those people who are involved in this business. Taking time doing your research and understand the whole concept will give you broader knowledge.

The value of Bitcoin depends on every individual who invested in this market, still following the supply and demand principle.

That is exactly right! It's backed by physical things like mining equipment, electricity, fiat money, maintenance, and much more! I just don't understand when people claim that there is nothing backing Bitcoin.

Don't people understand the value of things, even if they aren't things you can touch with your own hands and see with your own eyes?

Once you put a value into something, like Bitcoin, the Bitcoin itselfs gains value... :-X

And the bitcoin rate in the current currency - is it not the physical value of bitcoin?

I think it depends on ourselves, if we think bitcoin is bad for us, then it's better to stay away from it, because it will be bad if you force it. Of course something will have a positive impact if we are happy to do it. Don't let us lie to ourselves, because we are tempted by the money, which we hear stories from people who are already successful

Yes, economic growth measurements that typically influence the value of currency do not apply to Bitcoin, you have to keep in mind that BTC prices are influenced by the following factors:the supply of Bitcoin and the market's demand for it, the cost of producing a bitcoin through the mining process, the rewards issued to Bitcoin miners for verifying transactions to the blockchain, the number of competing cryptocurrencies, regulations governing its sale and use and the state of its internal governance, news developments.

well just because BTC is not related to any physical asset we cannot say that it  doesn't have any real value , believe or not the value is at all time highest $62K now and there are millions of investors investing regardless of dependence  on physical assets like gold.
BTC doesn't need to be backed up by any physical currency or asset , the demand and use of BTC is more than enough to validate it . ::)

investing in bitcoin is a profitable investment where all control is in our hands. Investments in gold or bitcoin both have their respective advantages. bitcoin has a high value in the market and it can be even higher with this ups and downs in the crypto market. if we can manage it well then we can get big profit from the bitcoin investment. although bitcoin does not have a physical form like gold or fiat but it is an asset and it is valuable, bitcoin can also be trusted and safe to invest.

You might be wondering why a lot of rich people are involved here. They are investing crypto not because they look for any backup by any physical asset but they consider this as a digital investment. They find it risky (as well known) but this never gives them hard to understand and I think you can do the same if you want to.

May you have to start in small amount and for you to prove that investing in Bitcoin is worthy of your trust. Risk takers will take the risk but if you are doubtful, I guess you will not have to try.

Starting with a small amount is always the right thing, my first btc trade was just 0.001 btc. Wasn’t sure back then if crypto trading is for me.

Do brokers allow such small investments, and is it even worth?

for rich people I don't think it's a problem to invest in bitcoin even though it's high risk, but rich people certainly have money reserves, or free money that is worth developing. therefore for rich people who know the potential of crypto, then they do not hesitate to invest

@sheryllmcnulty there are many brokers that have minimum deposit requirements as low as $10, like finprotrading.

Of course bitcoin has a real value. How can we use it and become our investment if it has no real value? Just a common sense. Even it is just a digital coin , it has a value the same with tangible asset and fiat currency.

I suggest you to invest bitcoin. It is not being named as a father of cryptocurrency without nothing. It has a real value since people use this. It is use to trade, speculate, transact or use as a form of collateral for lending or borrowing, it ends up becoming valuable. Well, if Bitcoin has no value, will someone can use it? As for me, everything here is very clear, if people invest, then there is a price. If some people believes in it because they get rich through this then, it means it is valuable, simple as that. Maybe bitcoin possibly have a high risk but if you have lots of knowledge about the market and Bitcoin, well, it would be easy for you.

As It is said, “Never put more than 5% of your investments in cryptocurrencies”. If the rich go by this advice, there isn’t much risk for them because it is just a small amount for them. But people like us have to rethink our decisions several times.

Then what about the NFTs? People are buying some NFTs for an amount which is beyond our imagination.

don't hesitate to invest in bitcoin.  you can see the bitcoin portfolio from year to year and the market capitalization is getting bigger so far.  in my opinion to be in bitcoin only need belief not proof because bitcoin is virtual not offices, factories or shops that have physical evidence.  so think for you if you want to bitcoin

Bitcoin is not backed by physical tangibles such as gold, Bitcoin is a digital asset that can be used as an investment today. Bitcoin investment is very safe if you can manage it well, even though it is not physically backed, Bitcoin proves to be profitable. The decision whether you will invest or trade Bitcoin is up to you but I advise you if you want to trade or invest in Bitcoin, you should first learn the basics of trading and investing so that you are knowledgeable about Bitcoin.

It's very typical questions.
What do you thinks about your country's currency. How they actually work? Isn't it just a paper then why we value them most? It's not a beautiful things to keep for us. In physical asset like gold its has value cause Gold has a limited supply. Then why do we prefer a fiat currency which we can just print anytime. Actually money which is printed its not decreasing every year it's increasing.

Here's I'm comming a more details , I don't know If i can explain it or not I will try my best.

In past time peoples was trade their gold for any work cause gold has a actual value.  It's not so called available . But isn't it so heavy or somethin that u can't move or carry easily. So people's make bank system that if we stored our Gold in a safe place the bank will give us a permit of some paper or u can say a check that I've this amount of  wealth . By that permit I can now trade anything from anyone. That permit also have approved by government.

So what we do here ? We do believe that your permit has a value why ? Cause bank secured that.

After a while this type of trade got vanised. Government said that there should be a currencey which have a value and by this we can buy or sell anything. Then why do we prefer such a paper thing ? Cause our government says so and we believe it. If just look in past which pen was 0.50$ it is now 5$ then why this price goes up? Cause government every day printing new money and our old one get value less. And we do belive that it has a value but in actual primw it has no value just a piece of paper. Then what makes it valuable our believes makes it valuable. If every one in the world just decline to accept this paper currency system it will also be a trash.

Same works in Digital currency or crypto currency when BTC started its journey its has very low price. It was value less cause no one wants to throw their money in trash. But when starting some people actually noticing it and accepting this one people attracting more people. Publics were watching it as a some that values it. Althoug btc has a limited volume like gold it's price are just increasing like Gold.

At last If there's in world some people exist who belive in bitcoin or this type of alternative coins it has a value

Investing on BTC its all your personal . If you don't wanna eat rice ball can I put it in your mouth by force? 😃 Just kidding. I hope you get my point.

I know I'm not so well to explain this matter. I tried my best. Thanks for reading my whole comment in patience

And isn't the bitcoin rate an interpretation? As for me, this is also quite an effective interpretation, in an equivalent that is understandable to everyone.

Bitcoin does NOT have any extrinsic value since its nature exist on the internet. Unlike gold, real estate, or precious metals, they have extrinsic value because of their nature being tangible. But what separates BTC to other investment is its use being as a currency under the blockchain technology where you could transact with anonymity.

The value of BTC derives from the law of supply and demand. Since people are willing to pay for it at such price, it is obvious that its price would continue to increase in the market. Not to mention, it only has a 21 million supply that can cause inflation in the long-run.

for me Bitcoin has real value really ,, why do some people believe in a crypto currency ,, why do people participate in investments using bitcoin soo does that mean its value is greater than you believe, I believe that bitcoin  will increase its value even more in the whole country ,, I don't know what bitcoin means sometimes they value a gold more compared to bitcoin because sometimes people want to take everything to pass him only once they use bitcoin for  cheat on people so sometimes also bitcoin is worthless to people who don't know and sooner or later they well know everything about what is bitcoin,  like, what is the value of a bitcoin.

Its an interesting question. So for understanding this you should know that just like fiat any crypto currency cannot back by gold etc, it is the community and  the network who made the Bitcoin valuable.

As long as people will want to buy Bitcoin there will always be an economy for it regardless of what the minority think. On this line of thought Bitcoin has value because many people see it as a store of value asset, not many people want to spend their BTC as much as they want to buy it. Because of this economy, where the demand never really meets the supply the price will continue to grow. The economy will of course get bigger with the more participants there are.

bitcoin has real value even though it does not have a physical that can be seen and touched, with this value it will be one of the pillars of the economy, for the future ... maybe ...! because at this time it is still constrained by several government regulations, so the status of bitcoin is illegal and some are not.... but in principle anything of value will become part of the economy; either directly or indirectly

Bitcoin and altcoins have value because they are used by the community and the number of active communities is very large, value occurs because of demand and stock as is the case with the market.

The thing is, op has taken Gold as the norm!

Do you know why people value gold more? Because it is rare and in great demand. Our economy has put a price on it.

In the same way, Bitcoin is digital gold, although it has no physical form but it is in great demand and yes we, the users, traders, and merchants are the ones who determine the price. It can be used as currency, as a payment method, and investment asset. So, it must have real value cause it has the ability to impact our economy.

People invest in anything that has value. Bitcoin is now  the digital crude oil that is being explored by crypto investors because it is more reliable, profitable and secure than any other investment. If you have the means of investing in Bitcoin do so now I bet you won't regret it.

It has value largely because a lot of people think it has value. Like other commodities, currencies and tradable stuff, if people are willing to pay for it, then it has value. If people are willing to accept it as payment, then it can be used to transfer value. If people are willing to buy and keep it, then it can be used as a store of value.

That’s definitely what I believe in too. But we have not seen the future, nor can we predict it. We never know if a new rule comes up or it gets all hacked.

I know that bitcoin is ever-growing and it will be like this in the long term. But what makes me concerned is the fact that all the world governments decide to put a ban on it completely. It will lose its value completely and you won’t be able to call it a valuable asset anymore.

I mean that they are equal to people who say that the cue ball is nonsense, it is - he is just an investor who made 100 yards and that's it! just putting money at the right moment in the company needed, I would not be surprised if now a man from the crypt overtakes him

Gold is not backed by anything either.

Why do people say that things can be backed by gold?
Because Gold is scarce and considered valuable and is useful as a monetary asset.

Bitcoin is scarce and considered valuable and is useful as a monetary asset.


Bitcoin doesn't need backing because it is the type of asset that other things could be backed by. Bitcoin IS the (potential) backer, the way Gold is.
Just as Dollars used to be backed by Gold, Dollars could one day be backed by Bitcoin. Not saying they will, but that'd be the same type of idea as being backed by Gold - backed by a scarce valuable asset that can't easily be manipulated. Why do you think people call Bitcoin "digital gold"? Precisely for this reason. Bitcoin has the special features of Gold (but far improved than Gold) that allows Gold to be a 'backing' asset, and so Bitcoin is a 'backing' asset as well. So it doesn't even make any sense to say Bitcoin isn't backed by anything.


So of course Bitcoin has "real" value. Value is decided by the market. Bitcoin has had real value since 2010 when Bitcoin markets first opened to allow price discovery of its value.

A better question would be what gives Bitcoin its value. That would be its scarcity and utility.

Scarcity: only 21 million will ever exist. It has perfectly transparent scarcity (far improved over Gold) and an issuance schedule that can't be manipulated or changed (far improved over Gold).

Utility: originally its utility was as a way to pay anyone without intermediaries. Now there are thousands of other cryptos that can do the same thing essentially. So in the end the technology behind Bitcoin, while revolutionary, isn't the basis of its long term utility, because the code can easily be copied. The code was open source, so the code, and the design of the blockchain, was never the proprietary tech that gave Bitcoin its value.
So the real utility is in its network. Just like someone could copy Facebook's code but that copied website wouldn't be worth anything. This has been done thousands of times in crypto and nothing ever came close to having the utility of Bitcoin for being money. That's because the thing that sets Bitcoin apart is its network utility. It is by far the most secure, the most decentralized, the most trusted, the most accepted and adopted crypto network. That's its unique utility.

21 million scarcity + most incredible decentralized network in existence = massive value.

This is why every altcoin failed to become money and so now Bitcoin has no contenders as money from the crypto world. Because every single crypto besides Bitcoin failed to show anything close to Bitcoin's level of decentralization, security, trustworthiness, and inability to be controlled or manipulated.

Is there any practical value in Leonardo's paintings?
If someone recognizes Leonardo da Vinci, he may spend a huge amount of money to buy a painting. If others do not recognize Leonardo, you may give her a painting and pay a portion of the money. He thinks the painting is worthless.
Value is given by people. When everyone's "consensus" is the same, then this thing will be very valuable.
Bitcoin is like that.

In the market, whether it may be the stock market or cryptocurrency market there are always ups and down There is no fixed or permanent value of anything or share.This fluctuation makes a market and trade. This happens in the markets of the world so same in the crypto market. We see that BTC or some other coin has no specific value it has fluctuated since its beginning so this is good marketing.
As concern to its value in Gold as currency, This is the story of the past.

Yes, bitcoin is not supported by anyone. It would be very difficult to answer this question. Simply put, the value of bitcoin will continue to exist if it is still used by the community, if it is not used again directly its value will be lost. The logic goes like this, If you invest in bitcoin it means you are a supporter of bitcoin to keep its value. This means that the value of bitcoin depends on the person who uses it, and there applies the law of the market, namely "supply and demand".

thats why people never trust in bitcoin, no real stuff back bitcoin up. people still ask about what you can do if you dont have any physical thing you hold. the fact, people get what they expect and bitcoin repeat what people want to see.
investation not from other people, you must ask your self, convincing your courage, to invest in bitcoin.

I’ve been trading forex for quite a while now and the value of currencies depends on many factors other than demand and supply alone. Is there any other factor (except demand & supply of course) which impacts the value of bitcoin?

Bitcoin is a digital currency and I don’t expect any physical thing to hold on. Even if fiat money has physical existence, without any value it is a worthless piece of paper. I am more concerned whether bitcoin will hold its value or will I lose my money after investing in it.

Bitcoin is a product of a free market, the price of it is determined by a free market, the supply of and demand for are the only forces that impact its value. There are no central banks to set an official exchange rate for Bitcoin, it is the market that decides what the exchange rate of bitcoin should be. In short, there are no other factors other than supply and demand that affect the price. However, there are definitely some factors that exist that affect the price of bitcoin indirectly, that is, they affect either the demand for or the supply of bitcoin. For example, negative or positive news, manipulations, stock market crash, China banning bitcoin mining, Christmas or Black Friday may result in instability on the market. If the previous equilibrium of supply and demand is broken, it will result in a higher or lower price.

It has a value depend on your belief and support , Like what Gold or Fiat that has Physical backing up, Bitcoin is in Virtual and that is what we believe and trust this currency .
so Real Value is depend on how much you bought and how much you want to sell.
that means depend on circulating value and supply .
Wow Great comparison and Hope OP will understand that clearly .

I think there is None? because market will only move(Specially in volatile market like this) because of Supply and Demand . same as in all trading platform it the world,
Yes this maybe a currency that can be use even not in trading but back up is from US who Use this and there is no need for physically back up.
well the question is about back up and not the use of this coin.

I still think that there is no need for back up as long as people is using this and not for another way .

Bitcoin has a value like other commodities if the people give its value. It can say that Bitcoin could be assets as well as currency. Like the Gold, silver it's value also increases or decreases with respect to the market. We can get anything by its value. But one thing one can use or spend it wisely when he/she knows the actual value of it.  Many people think that the Bitcoin is not safe, even if my mother thinks that it is very dangerous for trading. But when she managed to understand, she knew the actual value of Bitcoin.

It doesn't have the real value . Because it is digital assets not a thing which could sale to everyone. Any crypto currency fiat or digital assets don't have its real values. But the community make it valuable. If no one buy Bitcoin today then your Bitcoin value in nil. Because it is controlled by any person or government but the whole community is involved in it . If they backed then it is nothing.

Indeed, bitcoin in the real world are just chunks of data that programmers can write over and over again with their skills but with a few compliments from the community as well as some experts, then embroidered with a few future badges, many sparse trees have formed a forest and a unique land after only a few years. Although practicality and real value never appear too much but with the support and ability to link bitcoin's potentials with the real system, it's very likely that bitcoin will have a real transformation in the future.

I think people really underestimate the other costs of creating Bitcoin. We have several such as mining rigs, renting areas for the rigs, electricity costs, internet bill, and much more misc. costs that range from small impact to large impact on the mined Bitcoins end value.

So the question is, is mining Bitcoin really not connected to anything physical, or is that just how it "feels"? Because I see a lot of value going in.

Yes, Bitcoin is not backed up by nothing. Bitcoin's value depends upon the demand and supply in the market and that it's limited in number i.e. 21 million. Also gold is not backed up by anything, its value comes from how it's a precious metal and limited in nature. But unlike gold, Bitcoin has many more features and characteristics like decentralization, transparent,easy and fast transactions and cannot be counterfeited.
I would think Bitcoin is better option than gold in both short term and long term investment.

for the real world everyday bitcoin does not exist then the fundamental value of Bitcoin is "zero." And for the stock world or the virtual world, bitcoin is real. In my opinion, until recently the Bitcoin market has tended to be driven by unreasonable 'luxury', thus attracting many investors who are not used to seeing investments in cryptocurrencies.

That is pretty much the point of Bitcoin. It isn't backed by any physical asset because it is made to be decentralized and to have a different kind of market. It doesn't have actual physical value, but that is just a new way of investing and it is most probably the best kind of asset. Digital assets are definitely the future and their adoption is getting bigger by the day. I think it's worth a try, you just have to accept the new technologies.

That is solely your decision to make and if you don't understand Bitcoin enough and you still believe that you need some convincing by others to invest, then you might not be ready for what's to come with the market. This is a decentralized entity even though it is still valued in the USD, it need not be backed by anything for it to have value and I believe you have noticed this.

every exchange must give a statement
Disclaimer:
Trading bitcoin and crypto assets carries a high level of opportunity and risk. Make sure you use good judgment in making buying and selling decisions on your assets. crypto market does not force users to make buying and selling transactions and all buying and selling decisions of your digital money assets are your own decisions and are not influenced by any party.

so the OP actually already knows what to do next
and you are here I think you understand to understand what bitcoin and crypto are

bitcoin is not backed by physical assets, but this is a new breakthrough in the digital world, so the formation of price comes purely from supply and demand. with the increasing number of requests it will make the value higher, and therefore we can see the high volatility of bitcoin

Yes bitcoin is not backed by any assets till dates either by gold or anything but yet it still has value even far more than the so called assets we all know. And this is achieved by it's acceptance by the community. The community gave it more value than coal, gold, Mercury etc.

Everyone has a different understanding of value, but these things are values assigned by people. In my initial opinion, Bitcoin was just a bubble, but now Bitcoin has become the first choice for investment and has been adopted by many countries.

Bitcoin is virtual, not as visible and tangible as gold, and gold has a long history and has many uses, but it is also limited, because it is more valuable because of its scarcity. But when investing in something, you should first understand and study it yourself.

There is no absolute value. It depends entirely on your psychology and your needs. If you don’t think Bitcoin itself has value or is not worth owning, or you should choose the one you know better and needs more in your heart.

actually, all asset like(bitcoin, cryptocurrencies, gold, silver, etc ) doesn't have any real value, the value are from supply and demand, for example, price of gold in the 2021 are more expensive than 2000. because the supply in the world are less than the demand. it will be different, if the gold mine can mine more than the demand, it will makes the price of gold  decreasing. its like bitcoin, if the demand is bigger than the supply, the price will increasing. and if demand is lower than supply,  the price it will decreasing.

according to my understanding bitcoin has real value assuming 1 bitcoin remains 1 bitcoin which is not real the exchange rate often changes when exchanged for other than bitcoin. bitcoin has the same concept of gold, anytime can be sold and anytime can be bought, profits and losses depend on when to sell and want to buy because bitcoin is not the same as forex stocks.

Fiat "paper" currencies are also backed by nothing, no gold, silver, or anything; if that is what you want to know. Bitcoin is a digital currency that is fast, secure, and decentralized yet acceptable worldwide. Bitcoin has three main features you may either used bitcoin as a digital store of value, or a digital payment system, or run smart contracts on bitcoin blockchain.

I think you should work according to your mind, investing in cryptocurrency trading as you said is good to the person that know how to trade and what is bitcoin and other altcoins values because people do do not regards bitcoin usually have double mind to invest to it, i think bitcoin is far better than gold but not better than fiat

Objection, irrelevant. It doesn't matter my friend. The dollars we have today aren't backed by anything either. Oh wait, they are backed by the same thing and that thing is trust. So in essence it is backed. But not the way we want it to be. But yes, you should trade it to answer your question.

Bitcoin has no real value. It has fluctuation and this reality of any share, currency that it has not fixed and permanent value. see that in the beginning what was the price of bitcoin 2009,2010. Now, how exclusive rise it has taken in a decade. These are facts of this brilliant business that how potential it has to benefit the businessman. traders, miners, etc. In fact, Bitcoin has no real value. This is its reality and this is also a good reality of any stock market or crypto market.

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Your query doesn't really make sense if you think about it. What is Gold back by? I know some will say Fiat, and what is Fiat backed by? are you going to say Gold? All of them are not supposed to be backed by anything but as we all know, it is because the general consensus of Bitcoin right now is that, it has not been fully accepted or trusted by all which is the thing with Gold and Fiat because the Government made it so. So, Gold and Fiat are only backed by trust or acceptance by the people and nothing more which has not been extended to Bitcoin yet.

Bitcoin is an asset that can be subjectively valued by anyone interested in owning it. You can trade it at any price as long as people are interested in buying it even if it is above the market price. So I don't think it should be backed by fiat or any other physical asset and the true value of bitcoin is shaped by the beliefs of its community.

If you believe in bitcoin then you can invest, but if not then you don't have to because it is a very volatile asset that we can trade freely. If you need specific support for the asset you want to invest in then I don't think you're ever good with bitcoin and I think you're only good with centralized assets.

Here's a good way to get started with Bitcoin investing. Worked for me so I'm just passing it along to others.

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BTC is actually an speculative asset which has a significant value based on its demand and we've seen the progress of BTC for the past years which enables it to reach a 65k all time high value. Now if you can handle the volatility of the market, then it might be good for you but dont even think about diving in BTC if its not.

I went back to 2016 when I read the question given in the thread. Yes those were days when my friends and people around questioned me if the bitcoin was true and we can feel the currency. As all were used to physical currencies and assets, it was really hard to accept an virtual coin. But when we were able to convert the Bitcoin into our local currency, that was the moment of assurance. The statements and the transactions were the proof of Bitcoin existence. Hats off to the founder.

I am an economics graduate and there I was told that backed country's fiat is gold

and what about bitcoins? what i have to say is bitcoin is not backed by gold, fiat or shares of big companies, bitcoin is backed by the community and also the belief of many people who want to change the world and become their own bank

this is what makes bitcoin very strong and very high value

fiat is backed by the laws of:
'legal tender' that push fiat into being used as a national value medium.
'minimum wage' that push a minimum value that X is worth 1 hours labour
'court fines' that push that fiat must be used to pay punishments. not fish or beans
'taxes' paying for local and national public services

gold is backed by the cost of mining.
if you could mine gold for $2 with a spoon and coffee filter in your own yard.
everyone would be selling in the $5 range to 2.5x their effort. gold would not reach $1600
its success of demand is then found by its utility and need.
if no one needed gold for jewellery/tech, then no one would want to buy it and mining would stop

bitcoin is backed by the cost of mining
if you could mine bitcoin for $20 with a GPU and PSU in your own home office.
everyone would sell in the $50 range to 2.5x their effort. bitcoin would not reach $600(like PoS doesnt)
its success of demand is then found by its utility and need.
if no one needed bitcoin for remittance/trade, then no one would want to buy it and mining would stop
bitcoin also then has a 'reserve asset' value which is investment demand. but without utility of private trade. this 'investment asset value' wont have established

Agreed, While you are engaging in this discussion, someone in one end of the world is holding bitcoin and earning millions of dollars.

Such discussions are completely baseless, when the price of Bitcoin was $1, such discussions were logical. But the price of Bitcoin is now $50,000. Now, these irrational discussions will only make people fall into doubt, will not bring any benefit.

The fact of the matter is that Bitcoin is a digital payment system, its value is determined by its mining strategy and demand. As long as there is a mining strategy and there is demand for it, there is also a real value.

No matter where you think the value of Bitcoin is, but now the price of a Bitcoin has reached 46903, Bitcoin is worth and valuable, because of its scarcity and special calculation methods, Bitcoin is now known to more and more people around the world. Follow the acceptance, this is the trend.

I think bitcoin challenge the fiat currency and I believe it will bring a new economy solution.

although it is not supported by real physical assets such as gold and stocks, it does not mean that bitcoin is not valuable, because until now there are still many who trade it so that it is clear evidence that bitcoin is as valuable as gold and stocks.

yes, the fact that has happened is that bitcoin has a very fantastic value and is very high in value, and even continues to grow to be able to reach an ever-increasing price.
bitcoin is increasingly being known and used as a very promising investment similar to existing investments, even now many are turning to bitcoin.

If you don’t understand or are not interested in cryptocurrency and think that Bitcoin has no value, then choose what you think is valuable.

Regardless of whether it is gold or cryptocurrency, its value depends on you. Bitcoin and gold are scarce, and we have a demand for them, so the demand in the market determines its value, but now it is obvious that Bitcoin has become The trend of the times.

I think the same as you. I think the value of Bitcoin is given by people, when people's consensus is the same. Then the value of Bitcoin will get higher and higher. When people use Bitcoin to trade more and more frequently, it is an attribute with currency.

These kinds of doubts and uncertainties kind of belonged to the year 2010 or 2011, not now. Read the forum posts back then: will bitcoin be $100 someday? Or it will fade away into nothingness because it's not "backed"?

If bitcoin doesn't have real value, then gold is a worthless yellow metal too, and USD is a cheap paper with a few printed pictures on it. Your faith is what makes all those things valuable.

Bitcoin was not favored from the beginning, but is now regarded as legal tender by some countries. The price of Bitcoin is getting higher and higher, step by step to the world. If you want to invest, now is a good opportunity, you must understand the market and stick to it.

You can't consider the problem subjectively. Whether the value of Bitcoin is useful to you is your own opinion. Some people think it is very valuable. There is no reason to deny. If you think there is no value, no one will force you, but the price is now on the market. The step-by-step growth is because more and more people believe that Bitcoin is valuable. If the number of people decreases, the price will also decrease. Therefore, the value depends on the person.

If you understand Bitcoin's technology and its particularity, Bitcoin is indeed a virtual currency, without physical value, but people's needs are exactly where its value exists. The holders of the currency in the market trust Bitcoin, this This kind of trust is the embodiment of value.

If Bitcoin has actual physical value, would you not hesitate to invest in Bitcoin? Gold is an existing physical asset, but its value cannot be compared with Bitcoin. Gold fluctuates very little, and Bitcoin is scarce like gold. People have demand for them, and this is where their value lies.

Gold used to have the same value(even more than bitcoin) but then the government decided to make ‘a piece of note’ our currency legally because the gold coins can be forged, although fiat currency is no different in that manner. Bitcoin too has a value but again the government can decide to make another regulated digital currency legal.

I wish I could pay Starbucks’ with a copper utensil in exchange for their coffee but in this world things don't go the way we want them to. The question is not only about owning bitcoin but about its value and whether it’s more suitable for trading or investing.

I think it's not only the trust because many people have already lost their trust in fiat, but then there's the government backing it up.

Yea bitcoin doesnt have any phsyical value, so.. bitcoin just a digital cryptocurrencirs and the price depends on demand..
Actually itd same with gold. The price depends on demand and supply.

I thimk if you doubt about bitcoin, you should check about the history and how bitcoin work, before you invest and buy bitcoin you should remove your doubt about bitcoin

In simple terms, no. But you could say that about any currency these days because the "gold standard" was dropped decades ago and it was quite a big failure because the real gold supply didn't give governments enough flexibility. The price that Bitcoin is trading at in any given point in time is the collective evaluation of it's worth - if lots of people go to sell, the price drops until it hits the floor of buyers who will sustain it at a certain level. It's got less interference from central banks to worry about in comparison with a fiat currency, but the value of it can be shattered at any moment through regulations put into place that could effect cryptocurrency owners in certain jurisdictions (i.e. Europe and North America). I remember just a rumor that regulators in the USA were considering action dropping the price substantially and that was driven by a single tweet.

That’s the problem that most of us have only one justification for this,that is, community’s trust. If people have such a strong faith in it, then why does it falter during big events and why do people pull back their money leading to a crash in bitcoin’s price?

I agree that blockchain technology is remarkable. Even though I am sceptical about investing in bitcoin, I don’t think the technology is useless.

I think bitcoin didn’t have any real value until some countries legalized bitcoins and some companies like Microsoft and Lamborghini started accepting them. And hopefully the future will be bright for bitcoin.

Since Bitcoin does not have any intrinsic value, its value is necessarily intersubjective, depending on how much each trader expects the rest of the market to behave.

The subject of value is something very extensive, in fact even so for any type of professional appraiser it is difficult to be able to determine a value, it is certainly like a capital gains appraisal where it would only be valid for a maximum of 1 week, I do not think that it can be done from there a strong extension of the price is something very subjective, because everything would have to be studied from the point of view of analyzing every whale, every institution and possibly even giving an almost predictive analysis of the price.

Wrong, even before the time that countries acknowledged bitcoin's existence, bitcoin already has a value and yes there's no real value behind bitcoin besides the fact that people are supporting it and even if they say so, it can't possibly go back to zero because bitcoin will have to return all the fiat that was injected into it to truly go back to that point.

I'm not sure Bitcoin will hit such a low.
as far as people still believe, I'm sure this is good for continued storage or transactions.
the true value of bitcoin I guess based on the acknowledgment from the community. the market determines its value. and real use, I think we have to look at countries that have already legalized bitcoin as a means of payment transactions. not only as an investment asset.

But what makes you believe that bitcoin has a bright future because we have seen that some countries have completely banned it, some are planning to regulate it or introduce a central cryptocurrency.

Even fiat doesn’t have any intrinsic value. It’s value is set by the government which is clearly not very open to crypto.This is why there’s always a doubt when it comes to cryptocurrencies.

No government can create money by fiat, neither can any government set a value for their own currency. Fiat currency should always be backed by something, either by hard assets directly or by other fiat monies that in turn backed by those hard assets. Even if a government says that its currency is backed by "the full faith and trust in the government that issued it", it lies. No one trusts money that has no strong support in the form of hard assets. Bitcoin, on the other hand, is a hard asset itself, which means it is not necessary for it to have additional hard assets that would be backing it up. Bitcoin doesn't have value because someone said so, but because its value is observable for everybody who wishes to see it. It has certain strong characteristics and unstoppable decentralized nature that make its superiority unquestionable, especially against fiat monies whose value depends solely on hard assets like bitcoin.

How can Bitcoin be a hard asset? It’s not a tangible item which anyone can own physically.  It is valuable because of the underlying blockchain technology.

You're right I meant bitcoin is not a hard asset but hard money operating on a decentralized network that ensures a strong, unchangeable monetary policy upon which everyone entering the network must agree in order to be a part of the network. Given that no one can change the properties of the network and therefore the properties of the hard currency, this system is completely trustless and incorruptible, which means it can be well used for backing fiat monies that are far less trustworthy because they are often managed by corrupted politicians who pursue their own agenda and constantly look for free financing of their evil endeavors. If a fiat currency was backed by a transparent decentralized currency that everyone can observe and verify, it would keep the people behind that fiat currency in check, ordinary citizens would be able to hold these people accountable for their questionable actions if something terrible happens. So, what gives bitcoin a real value? I think it has value because it makes ordinary people powerful enough to be able to compete with and control those with political power.

If so, then can i ask, why should we value Fiat money? After all those are nothing but a piece of papers with some paint on it!  Or why should we value gold? After all it is nothing but a shiny metal with golden color lol. But you know what? A thing's value depends on how others people also think about it and how much worth they are willing to pay, when exchange. This is how the process works and this how bitcoin, fiat, gold are get valuable. Now its your choice if you are willing to buy bitcoin or not

You can get a debit card from Coinbase and spend BTC in person and online anywhere debit cards are accepted.

I believe one simple logic to show that bitcoin has real value to other people is to show somebody that you are converting btc to your fiat currency. How can they not believe if btc has no value if they are actually seeing that btc has fiat value. It is understandable that some people are hesitant because they feel they will be holding an asset that can easily go away, which is true. They will be holding keys to their wallet and somehow for traditional users it is quite scary.

This is a very strange question. And cannot be answered without questioning your own subjective as well as objective view on what value is. Is value measured in fiat? Or maybe it is measured in gold and silver? But then how do you measure the value of fiat and gold? The amount of thing X that can be purchased with amount Y of said valuable thing? But then how do you measure the value of thing X?

Anything that is deemed as valuable has value. Otherwise value is a nonsense metaphysical thing.

I understand what you are saying but I don’t think it’ll ever be possible. Unfortunately the nations are ruled by these politicians and they won’t let anything become popular that has the power to expose them.

Do you realise why the government is not in favour of Bitcoin? Because there is technology behind it which can disrupt the traditional way which they were using for their own benefits. That’s why it’s not backed by the government  but gold and  fiat is because neither of them has that potential.

I really like the point you’ve put forward but as bitcoin is extremely volatile it’s value fluctuates a lot. Do you think such an asset can be good for investments?

Indeed it fluctuate most of the time , but if you are asking for Investment then at least some time to wait will bring you good return right?

look at the price of bitcoin year after year , you will find how much it increase for the last 13 years of existence so Yes this is still the best investment more better than Gold or Bank investing .

What happens is that the value of BTC to which you refer is very difficult to calculate its intrinsic value, the price is given by mere market speculation, but its value has to be like a kind of appraisal of surplus value, which, always It is very difficult to calculate, however, giving a value right now would be very irresponsible for me because I would not know what I would take, so seeing it from the point of view of value is one thing and price is another, but believe me that if you have an intrinsic value is very large.

It's not ours to evaluate, but for those who's willing to take the risk, I mean or I'm speaking behind the people who would like to invest in this asset; the value is unpredictable and there is always sway that affects the momentum and also mostly affects the investors and traders point of views.

You, as holders or investors, do need to seek for better reason on why you should take this as an asset.

The number of people that support bitcoin is growing, bitcoin is getting more popular among the masses: politicians, wanting to be elected for one more term, need to take into account this fact. Corrupt politicians are protected by aggressive military forces, which, by the way, are being paid with fiat that has no real value. The army protects currency and ensures its value, but at the same time, it cannot guard the currency against natural forces such as supply and demand that rule the market. If the demand for a certain currency drops considerably, no one can protect it from plummeting. The army won't be happy about the fact that it is now being paid with the currency that quickly loses its value. The army will be looking for other sources of funding, for example, politicians who recognized and embraced bitcoin, in other words, bitcoiners who want protection and who offer a currency of real value that no one has control over.

One thing that made Gold and fiat currency have real value is that Gold and fiat currency is a believe system that works, so when you compare this two things with Bitcoin , tell me why will Bitcoin not have real value even when it's even more transparent than fiat currency today in the sense that we know how many number of Bitcoin that will be in circulation while for that of fiat they keep printing almost that's printed almost everytime .
you have to understand is that Bitcoin has already exhibited some characteristics of Gold and fiat currency and even more qualities , so when an asset Such as Bitcoin has shown such qualities Such as
a)security,
b)store of value, 
c)inflation hedge that made Gold and fiat currencies become valuable today , So why won't bitcoin also have a real value?.
So in my view this is why I will say that Bitcoin has real value and worth investing in.

in terms of ownership and value of bitcoin I think it is very real as gold and fiat only system and growth in value between them are different
I myself think something that is priceless in reality will be left behind and thrown away while bitcoin is not, bitcoin is bought and stored because it has real value

are we really still having this conversation? lol bro.. its not 2015 anymore - the world has valued it at 40k for a reason.

Bitcoin is valuable no doubt as it has helped a lot of people in various ways. Sending funds to loved ones  and it's purchasing power is top notch almost everywhere in the world.
Having no physical form brings a question to its value cause no one could physically see it to assess and put a value to it.
Countries accepting bitcoin as legal avenues to do transactions seems to think highly of its value.

I dont think any assets like gold, platinum or fiats are backed by. The same with Bitcoin. As everyone is investing in Bitcoin and it's price is $30k+, yes it has value. We have more demand for it in the market. If you feel that any share has value in the share market then yes Bitcoin has value obviously. And yes if you ask me, yes we can invest in Bitcoin. Many have earned huge investing on bitcoin. It has value.

The bitcoin coin does not have any real value. Because there is no inertia in its value and its value always has a change. It works like a stock market which always has rises and falls. Stock Market's share rate always has changed they never stay still. So bitcoin is also a cryptocurrency which continuously involves in business and trade. So its prices and value Be in constant circulation and do not stay in some specific position So bitcoin does not have any real value.

btc is valuable & doesn’t need to backed by any physical assest. Its enough for itself. people set its value depending on how it is. It has ups and down but has real use too, companies investment making it more valuable. Even so many countries recognised it as valuable. More and more people keep involving, even  it was reached $66k ATH, what else you want? Now its your choice how you want to use your fund

Bitcoin is a decentralized currency that is not control or manage by the government  before users can earn something good  from it. It pump and dump to help the users to know when to buy bitcoin and when to sell bitcoin to make a passive income at the moment. Bitcoin has helped many people to eliminate poverty from their investment by purchasing bitcoin when the price is low and hold until the price increase higher before you can sell to make a potential income.

I am also looking for one such reason but I think most of the people are only investing because they don’t want to miss the train.

Being a trader I definitely do not like missing out on an opportunity, jk. There’s no denying that bitcoin has a great profit potential, but I am not sure if it’s safe to keep it for a long span.

Do you think this ‘bitcoin as an inflation hedge’ theory is fairing well since the price of bitcoin fluctuates a lot?

long-term bitcoin investment attracts many choices to continue in the crypto world even though the value of bitcoin sometimes changes but the value of bitcoin will remain stable even though it is in the form of digital currency like we store something in a bank with nominal numbers that can also resemble a investing in the crypto world, the current value of bitcoin cannot be separated from cryptocurrencies that are starting to be accepted by various groups so as to make the digital currency stable again.

If you don't keep Bitcoin which of the coins are keepable and can also be invest for long time with trust, Bitcoin is only coin you will build your trust on, because of it potential, since the introduction of cryptocurrency Bitcoin is the most reliable coin you can rest after investment for long time

Before you start investing in bitcoin, have you studied the conditions and how the bitcoin system works. If you already know it, of course you are no longer confused about how bitcoin actually is. I will give my understanding of bitcoin as far as I know. I learned bitcoin is digital money, meaning there is no tangible form like gold or other. Bitcoin has real value in terms of your assets. Bitcoin will be a visible object when you cash out. You use the money to buy your necessities.

Bitcoin is fully decentralized and has many other advantages and this is what makes Bitcoin valuable and invested by many people. Here we know that Bitcoin is good for investment but it also depends on how to manage it. if you are not too sure and understand Bitcoin, it's better not to invest first. invest in bitcoin when you already have sufficient knowledge and understand Bitcoin. that's because not everyone can accept Bitcoin, therefore it is necessary to be aware of each if you want to invest in it so that we are also serious and careful in managing it.

I had that thought years ago, like in 2017 and I was like, why I didn't know it years ago haha! This will be repeated again and again, despite the BTC is not backed up by gold or any fiat. This is insane but this is called crypto, I guess.

I think that the very meaning of "value" is and ways has been nothing more than a single word without a real physical meaning. Value is an abstract feeling. A feeling of desire. Biologically, our desires are wired into us and always come down to necessary human requirements like food, love, safety and so on. So value is whatever we feel like it is. However if you are talking about monetary value, electricity, miners, internet and rent is not free. So making Bitcoin costs money.

Those Bitcoin mining costs are the non speculative, translated value.

This reminds me of Warren Buffet’s quote, price is what you pay, value is what you get. I don’t really think that the price of a particular asset necessarily reflects its value.

I think, more than not being a physical asset, the problem with bitcoin is that it’s highly volatile. No one can clearly say how much a bitcoin will be worth aftex X years and that makes me doubt whether it will be safe to have high expectations from it in the long term. Though, it is great for traders.

You are saying that we give value to the things that we require for living? ‘Cuz the examples you cited are important for survival.

The price of bitcoin has been on a wild ride since its inception. According to industry site CoinDesk, 2017 alone saw massive gains, starting the year below $1,000 and at its peak, breaking $19,000. Then we saw a deep decline in 2018 and a stabilization in 2019. What it is worth and why a significant market still invests heavily in it is a question that unbelievers often ponder. This piece attempts to address this question and help us understand the value behind bitcoin or any cryptocurrency. We are looking at a time where payment methods are changing in a very short time.

What is an intrinsic value?


The intrinsic value of a commodity is the value that a product possesses. It does not require any additional sources to provide value. Eg: Sweetness is an intrinsic value of sugar. Every item earns its value if there is a price that people will pay to obtain it. Today, we accept any fiat currency in exchange for goods or services because we understand that fiat currency can be re-traded to receive other goods or services, in return.

What is a fiat currency?


Fiat money is government-issued currency that is not backed by a physical commodity, such as gold or silver, but by the government that issued it. The value of fiat money is derived from the relationship between supply and demand and the stability of the issuing government. It is important to understand here that this demand and supply is determined by the participants of the network who are using a fiat currency. For example, within a network, I trade a $100 note for a mobile phone, I'm essentially exchanging $100 worth for the phone. The store-keeper takes a $100 note and buys his food with it or invests it to create more value. Fiat currency or money establishes an exchange of value with the help of government backing

Here's the value!

Similar to fiat currency, bitcoin (or most cryptocurrencies) is also not backed by any gold or silver, so it has no intrinsic value. The value of any currency comes from the support of the state and people's trust in the government. Therefore, for any money to be established as an exchange of value within a network, it is important for the network to trust who (or what) is backing it.

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But in that case, things would cost about the same, right? If things have the same functionality, why should they cost differently?

No, the costs are the costs. The value comes from the fact that there's a demand. If there's no demand for gold, it doesn't matter how much it costs you to extract it from the ground: It's simply valueless.

However, in Bitcoin there's something different. The costs are somewhat connected with the valuation, because of the difficulty (https://learnmeabitcoin.com/beginners/difficulty), which is a parameter that does not exist in any other asset. If the demand rises by a lot, it brings more competition into mining which makes it, in consequence, more expensive to mine 1 BTC. Oppositely if the demand drops by a lot.

The canon is the canon, though. If there's no demand, there's no market value, despite of the costs.

You are confusing value with demand. Obviously depending on the situation, bread might be more valuable than 100 Bitcoin or 100 kg of Gold. But thats an apocalyptic scenario which most likely will not come true anytime soon. Hopefully.

But my point stands. Anything can drop or rise in value but there will always be inherent value in work and time. The work in this case being electricity, equipment and so on and the time being the amount of time you spend mining to create a single Bitcoin.

But then again your logic would also work for anything, given the circumstance. If aliens enslave all humankind and put in a system where money is based on some arbitrary resource, that resource will gain a speculative value due to its demand. Or if we discover gold cures cancer, price of gold goes up.

But the minimum value is not raised by demand. Its raised in the minimum effort put into it.

Sure, cost does affect the market value. All I'm saying is that the value of a product comes from the fact that it satisfies one's needs. The production of it does have a cost which is added in the price, but that's true until there's one who's willing to buy it. If nobody wants gold, no matter how expensive it is to mine it, the valuation won't be greater or equal with the cost.

Take oil barrels as an example. In 20th of April 2020 (https://www.eia.gov/todayinenergy/detail.php?id=46336), crude oil prices went negative. The cost was much greater than the market valuation, because the demand suddenly dropped.

It has value largely because a lot of people think it has value. Like other commodities, currencies and tradable stuff, if people are willing to pay for it, then it has value. If people are willing to accept it as payment, then it can be used to transfer value. If people are willing to buy and keep it, then it can be used as a store of value.

Again, you are factoring in human failure as true value instead of admitting that speculative value can create short term price fluctuations.
Instances of negative pricing were always very temporary, and the markets quickly corrected.

If I, for example, trick you into buying fake magic beans, I am pretty sure I could get thousands, if not millions from you, depending on how desperately you believe you need the beans. Once you realize they are normal beans, their value would change very quickly, in your eyes. But thats all subjective from your perspective.

Now, if I were to sell you something you cannot live without, like water, the base value constants become the supply and demand and the work I need to do in order to get to that water, get it out of the well, bottle it up and deliver it. This becomes a minimum in price.

There is a work limit at which that all the work I have to do to get the water to my customer is not worth it anymore.

We don't disagree, I'm just pointing you out that it's not the same with Bitcoin, because those sudden drops in either the price or the required computational power can redefine the cost.

If 1 BTC is valuated at $40,000, but there's a sudden Chinese black out which affects lots of Chinese pools that contribute by owning a significant percentage of the network's hash rate, the cost of producing 1 BTC will decrease once the difficulty re-targets. But, the price has no reason to change, because the supply has remained the same (it's inflating by 6.25 BTC every ~10 minutes) and so is the demand.

Another example, but with change in demand: If there's a intensive trend of selling, which essentially causes drop in the demand, the equilibrium price will decrease. This, as a consequence, might discourage some miners, temporarily, to continue mining, because their income might have dropped by a lot. It is reasonable to assume that the cost of production remains the same, but it's not. In the next difficulty epoch, difficulty will lower which will decrease the cost.

yes Bitcoin a decentralized currency but if government of country regulate Bitcoin in which way can we classify it? Do we suppose to call it centralized or is still decentralized currency, their is at a time i saw the new for internet that bitcoin can be regulate so what is the difference between regulating bitcoin and centralizing bitcoin

For now most people tend to treat bitcoin like a gold but a version of high return .

They even know that bitcoin may worth nothing at some point , but they insist to get in and there you go .. the value created in the community and it's getting bigger and bigger.
The real value of bitcoin might be 0 and might be unlimited that nobody can imagined it. That's the charm of bitcoin to have real value.

Though we have no backing about the value of bitcoin, it is influenced by the supply and demand in the market. And since the adoption is growing, people believe that in the near future, btc will grow its value. Though for a fact, we have no assurance for that to happen. And right now, if you are thinking about its real value, just convert some of your satoshis to your local fiat, and you will already see that btc do have actual value that you can spend with.

Told ya, that's the charm!

The charm of bitcoin to have real value .. those people who knows the whole concept would stick to hold it as long as possible as mathematically they think the price epuld gradually rise despite got mocked many times .. and those believers proved everyone wrong ehen bitcoin continuously breaking the all time high.
The intrinsic value in bitcoin are depends on its ability to create a trusted network based on mathematics , which for newcomers that would considered as based on nothing.

When it was launched in 2009, Bitcoin was said to have only 21 million pieces in stock that would be mined by 2140.
So, a tight supply will make the value of Bitcoin soar if the demand is constant or increases

What makes bitcoin real value.

If fiat money is damaged, then the central bank will destroy it completely and replace it with a new one. Thus, fiat money is no longer legal to be used as a medium of exchange. However, something similar is not happening in Bitcoin. Bitcoin chunks cannot be destroyed as they will continue to be recorded on the blockchain network.

I can see where you are going with that and what you are trying to tell me however the real question here is whether or not Bitcoin can go to 0. And the answer is no. Because it has an internal value which cannot be denied.

Even if the apocalypse started in 10 minutes or in a long long time from now and nobody wanted or needed Bitcoin anymore in such a reality, nobody would sell it for $0. Even if all hope was lost, they would hold on to their coin in hopes it would rise in price again.

The minimum price, even if it is a low low price, it would still be the minimum due to the minimum effort/money/goods you would have to put in to create a Bitcoin.

Now if EVERYTHING including energy became absolutely worthless in the world, then the base price of Bitcoin would become 0. But thats unrealistic, don't you think?

No, this is not what I meant. I just said that the minimum value of Bitcoin isn't constant, because the cost to produce it constantly changes.

Again, the cost of producing Bitcoin isn't strictly connected with the value. There's a demand and a supply. Whether the energy rises to the top or falls to the bottom, the only thing that will change is the cost of producing Bitcoin. (ceteris paribus (https://en.wikipedia.org/wiki/Ceteris_paribus))

Energy can't worth $0. If we assume that the price of all kind of energy sources fell by 50%, then it'd suddenly become much more profitable to mine bitcoins. That would mean more computational power willing to be used. As a result, difficulty would skyrocket.

I have a simple question for the author of the topic - did he try to buy bitcoin at all? If so, what did he pay for bitcoin? If money, then the issue can be considered resolved.

Just because we are paying a lot of money for something, it is valuable? Expensive doesn’t always mean valuable. For instance, water is the cheapest in most countries but most valuable in life. My question is about the real world usage of bitcoin, not how expensive it is. I hope you got your answer.

Bitcoin's value is a function of this scarcity. As the supply diminishes, demand for cryptocurrency has increased. Investors are clamoring for a slice of the ever-increasing profit pie that results from trading its limited supply.

Bitcoin also has limited utility like gold, the applications for which are mainly industrial. Bitcoin's underlying technology, called blockchain, is tested and used as a payment system. One of its most effective use cases is in remittances across borders to bump up speed and drive down costs. Some countries, like El Salvador, are betting that Bitcoin's technology will evolve sufficiently to become a medium for daily transactions.

Bitcoin does not have the backing of government authorities, nor does it have a system of intermediary banks to propagate its use. A decentralized network consisting of independent nodes is responsible for approving consensus-based transactions in the Bitcoin network. There is no fiat authority in the form of a government or other monetary authority to act as a counterparty to risk and make lenders whole, so to speak, if a transaction goes awry.

ref. https://www.investopedia.com/ask/answers/100314/why-do-bitcoins-have-value.asp

In what evidence do you really want?
you heard about it and you have as well used it for transactional purposes and people trading and investing in bitcoin all over the world and yet you needed any physical asset backend it.
Well to those who really knows the values don't wait to be, but have already made their investments, with the reduction of bitcoin the scarcity it becomes so the increase in price.

It is important to understand that the price of bitcoin is fully justified. Otherwise, people would simply not buy it.

not because of the reduction, but by looking at today's minimalistic bitcoin users around the world, this opens up huge opportunities for profit. if you are in doubt, then study it first, my advice is not to waste the opportunity while we already know him now, or later we will only be spectators, and regret not taking action immediately.the value contained in bitcoin only comes from supply and demand

Everything that we value is essential to our survival. Thats where our desires stem from at the deepest level. Wanting food, water, happiness or anything else is rooted into the needs from our biological evolution. You will not find a single person in this world who wants absolutely nothing. Except maybe someone who is so psychologically or physically damaged that he cannot be considered as someone who cares about life anymore.

Every desire is basically a derivation of those basic needs. Only in a more complicated fashion.

For example, Gaming: It is just the artificial dopamine rush our bodies crave for because we are programmed to crave for dopamine.

fortune jack robs people. you are promoting crime. anything you say is from the mouth of a criminal. you value life because humans let you steal money from a false sense of hope. if humans knew your scheme was hopeless, you would be dead

Bitcoin has value because many people use it and want it, see it as something of value, and use it as an investment or other use.
and if everyone stops using bitcoin in any form then the price will drop drastically and therefore will not earn anything.
and the value of bitcoin is also determined by the forces of supply and demand and is also limited.

Of course bitcoin does not have physical assets but that does not mean bitcoin is not worth investing in, now many countries and also institutional companies are starting to adopt bitcoin so that it allows bitcoin to be more valuable than gold in the future, in today digital era, investment is certainly just keep up with the times so that what used to be physical may soon be replaced by various virtual investments.
If mark zuckerberg just dares to invest virtual (metaverse) with all his wealth, why not us?

The answer my friend is blowing in the wind.
Bit coin gets its value from blockchain mining which makes it a proof of work based decentralized economic token. In other words I think bitcoin derives its value for being an decentralized alternative asset to fiat or gold. That makes it precious.(My precious)

That is an rhetorical question which probably might be no answer. But that not withstanding,  as you know bitcoin is a decentralized currency that need not physical assets to control it. You control yours and I control mine. You should not wonder because investment is not by force. I thought you would asked for the legitimacy of the currency. Investment is a personal interest if you want to do it you are free and if you don't to do it is all your choice.

And another thing you have to consider is the platform, so if you want to invest on bitcoin, asked questions to know the genuine Trading sites to invest. You don't have to be afraid as you are here. What you have to do is to read other threads and learn from them. Your inquisitiveness will determine your out come. So be focus and learn.

Obviously Bitcoin has it's real value because it is now the digital currency which is used to make digital transection. So it has real value because we use it as a virtual currency.

I think that the support of BTC apart from the Law of Supply and Demand, there is nothing other than the same participation of the people, that is, it is a market that moves emotions to the surface, panic, emotions of joy make all the speculative markets move, but especially when talking about Bitcoin too, the whales, the fact that Bitcoin is not backed by gold, or precious stones, makes its value increase, even the very fact that it is not know who is or who are Satoshi Nakamoto is something that already has its intrinsic value there, that is why Bitcoin cannot be compared with another asset, that serves and looks like money, that represents money and that is a deflationary alternative technology, I believe that these are endorsements that are not even obtained in the traditional economy.

Bitcoin is proven to be a good digital medium of transfer so far.

It represents, what a good digital medium of transfer need to do: be available, be secure and be a store of value.
Bitcoin's network has worked very well fo everyone, only a few times, fees were high but are moderate now.

People will use it again.

no, its a goddam fucking tool for the federalreserve to fuck with people. why on earth would it crash thousands of times over the last 5 years unless it was a scam?

bitcon vs the federal reserve is a false dichotomy like catholics vs jews, they are all run by jews to worship jews and take your money.

well bitcoin and the fed are shit, just like all the other false dichotomy fake choices they present you. the only answer is total extermination of all false dichotomy and for good to rule absolute

It is difficult to say the true value of bitcoin and cryptocurrencies, because everything is very dependent on the community, as long as there is stock and demand it determines the value of bitcoin, and we are happy because the bitcoin community continues to increase so that demand also increases.

That’s exactly the point ‘what if’ everyone stopped using it.

I think it’s not even a question of controlling your bitcoins. We don’t have any control over it. Bitcoins are on blockchain we just get an ownership and if the demand decreases the value of bitcoin also reduces.

Because it doesn't have a physical form, of course bitcoin was initially worthless, but there is another side that makes bitcoin very valuable, namely a great benefit, because it is useful, many people use it for various transactions which are proven to be faster, more efficient and of course safe, and high demand makes the value of bitcoin continues to increase.

It all depends on what you really thinks about Bitcoin. Bitcoin is an asset that fluctuate in price just like other physical assets and it has good tendency of surging high more than expected. The price might be low now and that does not make it useless based in what you think about it.

What more do you want from Bitcoin even though the government are still contemplating of what importance it could be to them since every country is fight for a better economy that can supercede others. The reason why Bitcoin is created is having good effect on users without efforts from government.

Ser, believe me Bitcoin has real value, especially if you're a pleb in a world evolving into a society that will use CBDC as the main currency. I would also debate that politicians too will want to HODL Bitcoin because of CBDCs.

I know you don't currently understand, but welcome to your journey. In a CBDC world, Bitcoin will have perfect product market fit. The solution came before the problem, wait for it.

The USD is backed by what? By the economic power? If that is true, there must be a massive issue looking at the charts ;)
Have you ever been in the art "industry"? It is backed by what? I saw people buying a extremely ugly childish painting for USD 2.3 Mio....
Gold is backed by what?

It's all about what people are willing to pay for, that's the whole magic.

Though it’s a digital currency that has no physical existence, it is publicly traded around the world and has intrinsic value. Many companies and even brick-and-mortar stores accept payment in Bitcoin and hence, it holds real monetary value.
https://economictimes.indiatimes.com/markets/cryptocurrency/bitcoin-price/cryptodetail/symbol-btc.cms?msclkid=596576c2cbab11ec818537c734df6b74

I believe that investors, traders, and holders will never abandon bitcoin. Bitcoin, in particular, offers several advantages and is beneficial for transactions, money exchange, and other purposes, despite its changing prices. Also, I've heard that politicians are interested in bitcoin these days, so I doubt your "what if" will ever come to pass; there are a lot of what-ifs if people distrust bitcoin.

you must understand that bitcoin is backed up by all holders and also people who love bitcoin. the current value of bitcoin is the belief of many people that the price of bitcoin is worth it as it is today. Fiat currency is backed up by gold and also the government while bitcoin is backed up by all of us.

That's certainly true, mate. Bitcoin does have value because people gives it value. Being a decentralized cryptocurrency no one can stop, does come with its benefits. With deflation built into the protocol, there's every reason for Bitcoin to be as valuable as it is right now. Believe me, you haven't seen anything yet as the best is yet to come. Once CBDCs come into play, demand for Bitcoin will be higher. That's because people will be seeking privacy and freedom when they won't be able to find it on a CBDC.

We're still in the early phase of digital currency adoption, so I'd recommend anyone to buy as much Bitcoin as possible before it's too late. Just my opinion :)

yes of course it has a lot of value but this is applied by investors because the value is not fixed. As such, it varies like any cryptocurrency since they are volatile and remain in constant ups and downs for some, very notable and not much for others... but if we talk about a fixed price, of course not, since this is a decentralized currency, it is not controlled by no entity or bank.

Agreed! Cryptocurrencies have made payments much easier and faster.

Seriously even the craze for NFTs is something that I can never understand.

I don’t think it’s right to buy as much as of something that’s extremely volatile. Even if I make up my mind to buy bitcoin and other cryptocurrencies, it will not be more than 20% of my portfolio.