[POLL] Bitcoin has actually value ?

[ammy009]

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

[OnkelPaul]

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

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

Onkel Paul

[ammy009]

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

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

Onkel Paul

got it ....... best answer ........ thanks 

[bitcoinmasterlord]

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

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

[WhatTheGox]

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

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

[Amph]

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

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

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

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

[SFR10]

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

[odolvlobo]

None of the above.

Bitcoin has value because it is useful.

[greBit]

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

[vervolioman]

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

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

[michietn94]

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

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

[rayhan]

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

[bumm]

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

[Zorrocoin]

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

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

[LiteCoinGuy]

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

[bitcoinmasterlord]

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

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

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

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

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

[MUFC]

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

Bitcoin has no inherent value.

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

[Amph]

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

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

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

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

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

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

[lucaspm98]

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

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

[countryfree]

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