Why is bitcoin worth so much ?

[Twinkledoe]

Bitcoin is the first representative of the cryptocurrency market, it is also the standard for determining the value of coins later. It is more like and has many advantages over gold, the value cannot be measured while the supply is limited.

why should doubt the existence of bitcoin, I totally agree with you that bitcoin is the main market for crypto. bitcoin has become a prima donna for highly sought-after investments because apart from leaving out all altcoin is affected by the movement of bitcoin. There is no altcoin that can control without the encouragement of bitcoin, so we can be sure that bitcoin is very reliable and suitable to be the main investment. although do not neglect to the top altcoin which is also quite good.

Yes. A lot of new altcoins are already in the market but still, nothing can beat bitcoin. Bitcoin is worth so much because it is the very first crypto that has gained the interest and trust of people and even after its 10 years of existence, it's value still remain high compared to other crypto coins. Although bitcoin is also bound to be a global currency soon, still people consider it as the best asset or investment for now.

Though being a global currency is still too early. But yes, no doubt, nothing can beat bitcoin up until now. The popularity alone among cryptocurrencies is not questionable. Even noncrypto users is associating bitcoin with crypto but when you talk about other alts, they are clueless.

[Shasha80]

There are so many reasons why Bitcoin is very valuable and has a high demand. The first reason is because Bitcoin is a brave currency pioneer
against the flow, meaning that Bitcoin is trying to provide something that the fiat currency cannot provide. Namely freedom to manage our
finances alone. So when making transactions with Bitcoin the government cannot control these transactions, for other reasons Bitcoin is valuable
because no one can control it. And the last reason Bitcoin is worth so much, is because the volatile Bitcoin price we can use for make a profit.

[ChiBitCTy]

Bitcoins value has gotten to where it has for several main reason.  First is what...first.  First mover often has a major advantage.  Second, it's the one truly tested coin.  A coins who's blockchain has actually been test to a great extent.  Remember it has gotten up to nearly $20,000 per coin.  The blockchain has held up, it's yet to of been hacked and everyone whos aware of crypto is aware of what bitcoin is..to list a few things.

[KnightElite]

There are so many reasons why Bitcoin is very valuable and has a high demand. The first reason is because Bitcoin is a brave currency pioneer
against the flow, meaning that Bitcoin is trying to provide something that the fiat currency cannot provide. Namely freedom to manage our
finances alone. So when making transactions with Bitcoin the government cannot control these transactions, for other reasons Bitcoin is valuable
because no one can control it. And the last reason Bitcoin is worth so much, is because the volatile Bitcoin price we can use for make a profit.

In terms of it features, it beats all of the fiat currencies especially the dollar because bitcoin has a limited supply while the FED who controlling the dollar are printing more dollar that causing the dollar to bubble.

Bitcoin is valuable and it already proven that there are a lot of investors that are keeping on eye of this even if it is too volatile. For sure that major institutions will make investment because of its value that keeps growing over time.

[jademaxsuy]

Bitcoin was just the first cryptocurrency. The world is so arranged. The something first in any industry will always be popular and in demand

I do not think so that this is really applicable to all. Probably in India since they were conscious on attaining the first place this is why I think that they had made a lot of frustrations but not all of course because it is still depend on the individual character.

Well, OP has a good point I did not notice it that tax were being alreadt impose in the form of transaction fee. I did not notice this because the term tax is applicable only to the centralized system like the government system.

[semobo]

Why is bitcoin worth so much ?

Bitcoin price $9,442.51 coinmarketcap
Ethereum   $236.39    coinmarketcap


1.Btc transaction fees are high
2.Btc takes like 10 minutes - 1 hour to confirm
3.It has no smart contracts support
4.No tokens support
Etc etc ...

Where does the value of bitcoin come from ? I don't understand the logic behind the valuation ...

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Here is another thing i found :

Even when the last bitcoin has been produced, miners will likely continue to actively and competitively participate and validate new transactions. The reason is that every bitcoin transaction has a small transaction fee attached to it. These fees, while today representing a few hundred dollars per block, could potentially rise to many thousands of dollars or more per block as the number of transactions on the blockchain grows and as the price of a bitcoin rises. Ultimately, it will function like a closed economy where transaction fees are assessed much like taxes

Source: https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/

Why gold has more price value while silver is lot cheaper but literally both has similar chemical and physical properties.So the price value depends on how much trust people have on it, more people owns bitcoin than any other coin which makes its value so high but as per the experts bitcoin has huge potential to reach when more people come to know about it,so grab your coins as soon as possible when its cheaper itself.

[gmjutt6]

Why is bitcoin worth so much ?

Bitcoin price $9,442.51 coinmarketcap
Ethereum   $236.39    coinmarketcap


1.Btc transaction fees are high
2.Btc takes like 10 minutes - 1 hour to confirm
3.It has no smart contracts support
4.No tokens support
Etc etc ...

Where does the value of bitcoin come from ? I don't understand the logic behind the valuation ...

-----------------------------------------------------------
Here is another thing i found :

Even when the last bitcoin has been produced, miners will likely continue to actively and competitively participate and validate new transactions. The reason is that every bitcoin transaction has a small transaction fee attached to it. These fees, while today representing a few hundred dollars per block, could potentially rise to many thousands of dollars or more per block as the number of transactions on the blockchain grows and as the price of a bitcoin rises. Ultimately, it will function like a closed economy where transaction fees are assessed much like taxes

Source: https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/

It is the first production of Crypto currencies and its demand is so high therefore other altcoin can't touch the bitcoin.

[bakasabo]

Bitcoin was just the first cryptocurrency. The world is so arranged. The something first in any industry will always be popular and in demand

Bitcoin is not the first cryptocurrency created. In 1982 introduced a paper called Digital Cash which also introduced the cryptographic primitive of a blind signature. These digital money did not receive a huge popularity and is now forgotten. Maybe because it was released to early for its time.

But Bitcoin is worth so much because people are able to pay so much and there is a demand on it.

[iv4n]

Bitcoin was just the first cryptocurrency. The world is so arranged. The something first in any industry will always be popular and in demand

Bitcoin is not the first cryptocurrency created. In 1982 introduced a paper called Digital Cash which also introduced the cryptographic primitive of a blind signature. These digital money did not receive a huge popularity and is now forgotten. Maybe because it was released to early for its time.

But Bitcoin is worth so much because people are able to pay so much and there is a demand on it.

I think that bitcoin worth so much because of the people! We give it value by using it, holding it.. And more we do that, and more people who wishes the same, all hat affect the price in long and sometimes in short run.
I remember I read about that first digital cash from the 80s, well conditions then and now are different, to not mention infrastructure needed for development.

[Leviathan.007]

Bitcoin is the first and known as mother of all coins. Any change in bitcoin price and bitcoin dominance price will result the price change on all other coins and tokens. Due to a huge demand and the investors how buy bitcoin for higher prices according to supply and demand rule the price is too high. Also, bitcoin is the most and best known crypto currency around the world between investors. So, it's not surprising to see bitcoin trading for high prices. It can be much more higher than this.

[7788bitcoin]

Yes. A lot of new altcoins are already in the market but still, nothing can beat bitcoin. Bitcoin is worth so much because it is the very first crypto that has gained the interest and trust of people and even after its 10 years of existence, it's value still remain high compared to other crypto coins. Although bitcoin is also bound to be a global currency soon, still people consider it as the best asset or investment for now.

Bitcoin is a global currency but we are yet to see that kind of merchant adoption like we anticipated in the beginning because of scaling issues we had and hopefully once we get a solution for that we could really call as the truly single global currency. The price of bitcoin depends upon the global investment in it and the global market determines the price and the market has grown tremendously from its initial days to a much bigger market in a relatively small period and it is impossible for any coin to topple that position.

[Philipping]

The reasons you mentioned are wrong bitcoin has smart contracts and can support tokens.
The value comes from the ability of people to invest and make profits from price fluctuations.
Price volatility creates competitive values and thus can increase market capacity.
bitcoin worth vaule determined by people who want to buy and who are ready to sell.

[Raflesia]

Yes. A lot of new altcoins are already in the market but still, nothing can beat bitcoin. Bitcoin is worth so much because it is the very first crypto that has gained the interest and trust of people and even after its 10 years of existence, it's value still remain high compared to other crypto coins. Although bitcoin is also bound to be a global currency soon, still people consider it as the best asset or investment for now.

Bitcoin is a global currency but we are yet to see that kind of merchant adoption like we anticipated in the beginning because of scaling issues we had and hopefully once we get a solution for that we could really call as the truly single global currency. The price of bitcoin depends upon the global investment in it and the global market determines the price and the market has grown tremendously from its initial days to a much bigger market in a relatively small period and it is impossible for any coin to topple that position.

Bitcoin has become one of the best investments in the near future just look at a decade of being able to reach the highest value so that this can be made a global currency today, many traders continue to strive to benefit here because we we have reached a large adoption today where many countries have accepted bitcoin as a legal currency, which means that in the future it can be more recognized if the development is better.

[danggoron]

Bitcoin is the first and known as mother of all coins. Any change in bitcoin price and bitcoin dominance price will result the price change on all other coins and tokens. Due to a huge demand and the investors how buy bitcoin for higher prices according to supply and demand rule the price is too high. --

In addition, the innovation and technology offered by bitcoin are very appropriate to the current situation. This became a kind of evolution in finance in accordance with the times. With bitcoin, we can send any money, anywhere, anytime, at a low cost, when compared to conventional transactions. It is this revolutionary and innovative financial technology that can lead many people to buy BTC and make the price bad. This is what makes bitcoin more popular.

[ultrloa]

Yes. A lot of new altcoins are already in the market but still, nothing can beat bitcoin. Bitcoin is worth so much because it is the very first crypto that has gained the interest and trust of people and even after its 10 years of existence, it's value still remain high compared to other crypto coins. Although bitcoin is also bound to be a global currency soon, still people consider it as the best asset or investment for now.

Bitcoin is a global currency but we are yet to see that kind of merchant adoption like we anticipated in the beginning because of scaling issues we had and hopefully once we get a solution for that we could really call as the truly single global currency. The price of bitcoin depends upon the global investment in it and the global market determines the price and the market has grown tremendously from its initial days to a much bigger market in a relatively small period and it is impossible for any coin to topple that position.

Bitcoin has become one of the best investments in the near future just look at a decade of being able to reach the highest value so that this can be made a global currency today, many traders continue to strive to benefit here because we we have reached a large adoption today where many countries have accepted bitcoin as a legal currency, which means that in the future it can be more recognized if the development is better.

For the past years I saw forex traders shifting to cryptocurrency trading since by here the volatility is promising and the potential earning is very good if you do a good trades and not listed to the fuds. And as years goes by the adoption is growing by growing so for sure in next following years we can see bitcoin listed on the top merchant as one of their payment options but for now we need a proper development together with good education regarding on how bitcoins really work since many still not now and have knowledge on it.

[Negotiation]

The reason why Bitcoin is so valuable is that Bitcoin is decentralized and carries a lot of speed in transactions It also protects the privacy of exchanging bitcoins from other currencies. A user can hold multiple bitcoin addresses where they do not have to be associated with a specific name, address, or another person This type of privacy is not usually seen in digital currency systems in a competitive market Also, the value of Bitcoin is so high due to the increasing demand for investment.

[beerlover]

People just like bitcoin but it is not only about bitcoin as well, everyone focused on that part. I agree that "whatever people are willing to pay for bitcoin, that is the price" mindset and that is most of the reason why it worths so much, however there is one more reason that people are forgetting about.

It is also about how much people think dollar and other fiat currencies worth as well. When you say something like "one bitcoin equals 9 thousand dollars" you are not only saying that bitcoin worths a lot, but you are also saying dollar doesn't worth that much as well, those are hand in hand stuff. Which is why I believe dollar loses both value and also worth in people's minds over the course of years as well and that is exactly why I think a big reason of why bitcoin worths so much is that dollar loses value as well.

[coinfinger]

People just like bitcoin but it is not only about bitcoin as well, everyone focused on that part. I agree that "whatever people are willing to pay for bitcoin, that is the price" mindset and that is most of the reason why it worths so much, however there is one more reason that people are forgetting about.

It is also about how much people think dollar and other fiat currencies worth as well. When you say something like "one bitcoin equals 9 thousand dollars" you are not only saying that bitcoin worths a lot, but you are also saying dollar doesn't worth that much as well, those are hand in hand stuff. Which is why I believe dollar loses both value and also worth in people's minds over the course of years as well and that is exactly why I think a big reason of why bitcoin worths so much is that dollar loses value as well.

Yes, simply because it’s bigger than other cryptocurrencies in terms of usage. Bitcoin is being used by majority of the people that are into cryptocurrency more than any other one there is. That is why it has over 60% dominance in the market, and it keeps getting strong everyday.

When it comes to transaction there is no other cryptocurrency that is being used more than bitcoin, despite that there are so many altcoins that has faster transaction fees than it does, just like the Litecoin, Ethereum and so many of them, but still bitcoin is being used like 99% of the time when it comes to transaction. I have never seen anyone talking about using any other cryptocurrency for transaction, it’s only bitcoin. These are just my thoughts, but there are still many reasons.

[lienfaye]

The reason why Bitcoin is so valuable is that Bitcoin is decentralized and carries a lot of speed in transactions It also protects the privacy of exchanging bitcoins from other currencies. A user can hold multiple bitcoin addresses where they do not have to be associated with a specific name, address, or another person This type of privacy is not usually seen in digital currency systems in a competitive market Also, the value of Bitcoin is so high due to the increasing demand for investment.

Indeed, we are anonymous and there's no need to expose ourselves in order to make a transactions unlike banks that has less interest and required the necessary documents to get your own money specially if its huge. There are many reason why bitcoin is worth so much compared to other altcoins even it has disadvantages too like high fees. Investors prefer bitcoin as an investment because it is well established and profitable.

[hunter7519]

If asked to me why bitcoin is very valuable compared to other cryptocurrency or gold. To be honest, I can't either give a strong reason,
but in my hunch the possibility of bitcoin is the first cryptocurrency. Become better known and trusted, then bitcoin is also purely
decentralized. This might make bitcoin demand high, and become a symbol of resistance to monopoly paper money. Therefore bitcoin
has fanatical supporters in my opinion.

Its really simple. People in this digital age wanted a online currency controlled with math as law with a ever growing worth. You used to be able to buy a loaf of bread for 10cent usd or a coke for a nickel right.. well now every year the cost of things increases and your dollar decreases in value. Everyone is taking a cut off your dollar too.

Any governments cash is kinda a wildcard currency when you think about how cash works and how its made by a specific one government. Bitcoin is like the whole worlds online currency, and you dont have to put it in your pocket, get out of a atm or place in a physical place that takes up space. Technically it should be better on the environment vs random metals and paper with toxic elements.

There is also fake cash floating around, there is no fake BTC.

Although now Bitcoin (BTC) is harder to get and more of a asset. Its also taking computer parts and electricity to manage. It takes effort, work and your own equipment to help manage the calculations to run Bitcoin so you get paid some Bitcoin for running the hardware so its also worth something because people are putting “worth” in to the system to get “worth” in the form of BTC for their service. Since it was created in 2009 its taken years for the worth and adaption of bitcoin to grow.