More than scarcity, I think people believe in the BTC value because the coin has been in the market for a long time, and sky-rocketed only a few years back. Ever since then, people have started believing in bitcoin. As the demand has increased,it is causing more scarcity. However, I do not think the authorities of developing bitcoin will acknowledge the request to increase their supply, because this might possibly reduce with the value of bitcoin.

The popularity and demand of bitcoin has risen tremendously in the past few years. People recognise bitcoin as the ‘ultimate crypto’ with the most secure and reliable blockchain network and with the highest rate of growth. That is why even during the bear market, people are taking this opportunity to buy bitcoin, and its demand is increasing more.

These are not comparable. These assets are of different natures and comparing them is not a good approach.

It is hard to predict the future of bitcoin at this stage. Throughout this year, bitcoin has experienced both rise and falls. Now it is recovering. However, with the movement throughout the year one can predict that bitcoin will take some more time to recover fully.

The reason why there are so many posts about the bitcoin price here is primarily due to the reason why people are going into bitcoin. Most people will begin investing in bitcoin with their fiat money, comparing the value of bitcoin to the fiat on a daily basis, and they will wait for some profits over their investments to return to the fiat they put in. If people examine closely, they will see that if they truly believe in bitcoin being inflation, they will not need to exchange back to fiat, because regardless of the price of each bitcoin, one bitcoin is always one bitcoin till you sell it.

If you want to be a blockchain based developer, the first and the most basic requirement is to have the knowledge of blockchain. As you said you have no prior knowledge of it, you should first take a professional online course and read books about blockchain developing. When you start learning, remember that computer, coding, and development, is not just theory but a grater practical application. Being a blockchain developer is not easy, the concept of blockchain in itself is very huge and complicated. It will test your dedication and understanding skills. But if you are really focused on achieving this goal, you can definitely develop your own coin one day.

It’s never a bad time to start accepting bitcoin. In fact, bitcoin has always been a matter of peak hype as many people regard it as a valuable asset against inflation. Currently as the value of bitcoin has fallen and the market is in a bearish stage, it is the best time to buy bitcoin at a lower price. Analysts expect and are pretty positive about the hope that bitcoin will recover soon and reach the $48k mark by the end of the ear.

I don’t think Bitcoin can do much to save us from inflation and price hikes. Unless the traditional currency system is entirely abolished and there is a mass adoption of Bitcoin as legal tender which is not going to happen anytime soon. Even though BTC is immune to inflation, it is still very volatile and we still have a long way to go.

Bitcoin itself is not backed by anything and I don’t think crypto currencies need backing of another crypto currency. There are some crypto currencies that are backed by gold but none of them are as popular as Bitcoin. But they are known as stable coins with the backing of physical assets.

Do not get tense with the ups and downs of the cryptocurrency market. This is the nature of the market. As you can guess many developed countries are finding ways to incorporate them in their national economy. So Bitcoin and other cryptocurrencies will remain for a long time.

As these currencies do not have physical existence then you can send them to aliens or some one in another world.

I highly doubt whether Bitcoin will become successful in the coming years. The people need to be financially aware first. They need to explore and learn crypto (which would not be an easy task, I think). But at least it has thrown some light of hope on the future of Bitcoin.

That’s something wonderful to know! I was looking for some positive news to refresh my day, and here you are with your amazing initiative to teach your students about cryptocurrency.

Bitcoin and other cryptocurrencies are extremely volatile digital assets. Trading without sufficient understanding and care might result in large losses. Just like this one.

These are his personal opinions. Who knows what will happen tomorrow. Despite this, Bitcoin is the first ever cryptocurrency to be released into circulation. Also, the most trustworthy.