Why is bitcoin worth? Welcome to discuss

[zeaderza]

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

It has a great value thats why it has a high price. And the thing is everyone wants it, or we could say that the demand is high too thats why many people are trying their best to save this cryptocurrency in an early stage. Though not everyone know it because they are focus on other things in their life.

I never bother about the investment opportunity that bitcoin brings to us. Just using it as a payment system itself I am finding the worth of using bitcoin ecosystem. It is a great Savior for me because I had many bitter experience with PayPal and other payment systems.

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[jack1111]

The factors that give Bitcoin its value are the same factors that give Gold its value, a goods with limited volume in addition to the possibility of storing it for long time without any lose in its properties, but I think Bitcoin is better than Gold because it is easy to store and buy/sell.

[zidanw]

The factors that give Bitcoin its value are the same factors that give Gold its value, a goods with limited volume in addition to the possibility of storing it for long time without any lose in its properties, but I think Bitcoin is better than Gold because it is easy to store and buy/sell.

I agree with you but hard to spend, bitcoin value is more superior than gold in many aspects but to safe investment gold is superior because bitcoin value tend to change rapidly. I also experienced the same thing as op precisely in early 2015 where bitcoin prices falls, different from now that bitcoin prices bounced

[The_Dark_Knight]

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

At first bitcoin had no value, then people understood that bitcoin had some nice characteristics, as time has passed more and more people have realized that bitcoin is in fact a good currency, and as such the value of it has continue to go up, there is really no mystery here.

[Dudeperfect]

It’s a game of trust. The currency note in your pocket has some definite value of $1 or 100 INR etc because the concerned government has agreed to pay you that respective amount so you trust that the instrument possesses the some value and thus everyone other. Bitcoin is not different, people around the world have faith in bitcoin and thus they believe that bitcoin has a certain value of $1,000 and this mutual trust is known as value.

The value of bitcoin probably depends on trust, because if the community stops trusting bitcoin, it would become like other currencies who does not have trust among people. The only thing that makes bitcoin the best and different from others is the trust coming from the people  around the world, the belief of people that bitcoin will always be of great value.

The best thing is.. you don't have to trust anyone or anything.. you just have to trust Math..
And since math can be proven its a bullet proof concept.
Its a currency backed up with Math and Calculation Power.

Yes math has crucial role in determining the price but at the same time the current price is determined by the buyers and sellers in the market and buyers purchase bitcoins because they trust that market will buy bitcoins from when buyer wish to sell so it's the mass trust which makes it valuable IMO.

the only thing that matters is "demand" and yes supply too but since supply is not changing and there is always nearly the same amount of bitcoins being sold on the market, the only other factor is going to be demand.

and that means the number of people who are investing in bitcoin.
the nice thing about bitcoin is that it doesn't belong to one nation or one group of people. instead it is global which means all the people from all around the world are going to buy bitcoin but this takes time since not everyone trust the system at first and many don't even know about it.
and as more people come in, price goes higher and higher.

the only limit is the population of the world!

Or maybe the limit is the number of open minded people. There are some that don't even want to use smartphones because back in the day, they didn't have it so that means they don't need it. Those are mostly the elder people.

When we hype up bitcoins, there would still be those people that are very reluctant of everything. Bitcoin is just a currency. Does everyone use USD? No. Does everyone use Chinese Yuan? No. I think the same thing would apply to bitcoins as well. Not everyone would be using bitcoins as long as there are other options like altcoins and fiat money.

Exactly, even if the technical limit is the population of the world while looking practically not everyone is going to use it even if it reaches $100K. There will be the people who will always prefer fiat currencies because one or more reasons. Bitcoin would be one of the popular currencies but won't be the number one currency IMO.

[mace15]

Bitcoin is indeed worth to use and  worth to earn. Bitcoin does have value since the demands is rapidly increasing daily. Everyday the price of bitcoin is fluctuating this means people are really into use all over the world.

[boris singer]

The factors that give Bitcoin its value are the same factors that give Gold its value, a goods with limited volume in addition to the possibility of storing it for long time without any lose in its properties, but I think Bitcoin is better than Gold because it is easy to store and buy/sell.

"Bitcoin is more worthy than gold", this only applies to active users. Gold is an immovable property assets.

Because of decentralization, Bitcoin is very feasible when compared with FIAT, and also because many elements of bitcoin algorithms value that can be divided into small nominal by altcoins as the main determinant of price.

[raven7886]

It’s a game of trust. The currency note in your pocket has some definite value of $1 or 100 INR etc because the concerned government has agreed to pay you that respective amount so you trust that the instrument possesses the some value and thus everyone other. Bitcoin is not different, people around the world have faith in bitcoin and thus they believe that bitcoin has a certain value of $1,000 and this mutual trust is known as value.

The value of bitcoin probably depends on trust, because if the community stops trusting bitcoin, it would become like other currencies who does not have trust among people. The only thing that makes bitcoin the best and different from others is the trust coming from the people  around the world, the belief of people that bitcoin will always be of great value.

The best thing is.. you don't have to trust anyone or anything.. you just have to trust Math..
And since math can be proven its a bullet proof concept.
Its a currency backed up with Math and Calculation Power.

Not always that it is always backed up with math, I mean if something goes up in the market and the price falls off really low.

I mean math won’t fail you for the most part but there are things that we can’t predict and there are factors that we cannot intervene with when it comes to changing the price. There are lot of other factors which are usually assumed being beyond our control.

[lovesybitz]

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

It has no value, because there is no significancy for them what bitcoin is. That's the logic of what they said, no wonder why there negative into bitcoin. But in reality bitcoin is worth to invest in, if they're just going to give themselves to find out what it is all about He/She will be amazed for sure.

[splitups]

Someone has said bitcoin is of no value, in my heart I think they said is wrong, I always think that bitcoin is valuable, but I didn't understand what is the origin of the value of bitcoin, why accept more people, its value will rise? If you have other ideas, please discuss.

Value and pricing of everything in the world does work in the same way, basically it depends on demand/offer, it's not just BTC imo but anything else in the world from food to houses. saying BTC has no value is not true at all.

people buying and selling are the ones determining the value and that's not bad in anyway, if you think about it. What makes gold, diamonds valuable? same principles do work for the pricing of everything IMO.

[Pattart]

Bitcoin is indeed worth to use and  worth to earn. Bitcoin does have value since the demands is rapidly increasing daily. Everyday the price of bitcoin is fluctuating this means people are really into use all over the world.

What makes bitcoin demand exists in the market? it makes bitcoin worth in the marketplace? think what makes people want to buy bitcoin? I think because of the bitcoin technology highly sophisticated

[IsaacBitcoiner]

Bitcoin has value for the simple fact that it does what was proposed to be done. This means that the currency fulfills its role in allowing people to have a decentralized and secure way of storing value. Many people do not feel secure enough to store value in fiat currency, gold or other assets, and for these people Bitcoin is a good way to diversify.

[The_Dark_Knight]

It’s a game of trust. The currency note in your pocket has some definite value of $1 or 100 INR etc because the concerned government has agreed to pay you that respective amount so you trust that the instrument possesses the some value and thus everyone other. Bitcoin is not different, people around the world have faith in bitcoin and thus they believe that bitcoin has a certain value of $1,000 and this mutual trust is known as value.

The value of bitcoin probably depends on trust, because if the community stops trusting bitcoin, it would become like other currencies who does not have trust among people. The only thing that makes bitcoin the best and different from others is the trust coming from the people  around the world, the belief of people that bitcoin will always be of great value.

The best thing is.. you don't have to trust anyone or anything.. you just have to trust Math..
And since math can be proven its a bullet proof concept.
Its a currency backed up with Math and Calculation Power.

Yes math has crucial role in determining the price but at the same time the current price is determined by the buyers and sellers in the market and buyers purchase bitcoins because they trust that market will buy bitcoins from when buyer wish to sell so it's the mass trust which makes it valuable IMO.

the only thing that matters is "demand" and yes supply too but since supply is not changing and there is always nearly the same amount of bitcoins being sold on the market, the only other factor is going to be demand.

and that means the number of people who are investing in bitcoin.
the nice thing about bitcoin is that it doesn't belong to one nation or one group of people. instead it is global which means all the people from all around the world are going to buy bitcoin but this takes time since not everyone trust the system at first and many don't even know about it.
and as more people come in, price goes higher and higher.

the only limit is the population of the world!

Absolutely, and that’s the reason that bitcoin is getting more and more precious day by day. If we look at the past record of the price of the bitcoin then we will realize that since more and more people are showing interest in bitcoin, the demand for it is increasing so does the price. Now, since it was designed in such a way that has upper cap of 21B bitcoins, but if at that time the demand surpass the available levels of supply then the price will skyrocket for long time (currently it’s not because new bitcoins are coming in the market to satisfy demand).

And also we must remember the demand it is kind of low, if lets say 5% of the human population used bitcoin the price will sky rocket 100 times or maybe even more, that is what many are waiting for, they are waiting for an increase of demand and with it an increase in price.

[BeGoods]

Bitcoin has value for the simple fact that it does what was proposed to be done. This means that the currency fulfills its role in allowing people to have a decentralized and secure way of storing value. Many people do not feel secure enough to store value in fiat currency, gold or other assets, and for these people Bitcoin is a good way to diversify.

the advantages and benefits of bitcoin as an anonymous, decentralized, it makes bitcoin valuable and worth. because it makes bitcoin is different from the others. so that is bitcoin more special than other

[pangdmay]

In simple terms, bitcoin useful, so valuable. Bitcoin is the fundamental source of the value of the value of bitcoin, but also from the use of value.

[Etaurith]

The Bitcoin is worth because it is safe way to send and get money from other people.
And Bitcoins keeps getting supporters what will make it worth grow.

[jack1111]

The factors that give Bitcoin its value are the same factors that give Gold its value, a goods with limited volume in addition to the possibility of storing it for long time without any lose in its properties, but I think Bitcoin is better than Gold because it is easy to store and buy/sell.

I agree with you but hard to spend, bitcoin value is more superior than gold in many aspects but to safe investment gold is superior because bitcoin value tend to change rapidly. I also experienced the same thing as op precisely in early 2015 where bitcoin prices falls, different from now that bitcoin prices bounced

If you believe in Bitcoin, there is no thing to worry about, Bitcoin price goes up and down but in total it is on up trend, so if you want long term investment you just need to buy and store, during 2016 the investors were expecting that 1 Bitcoin will worth more than $1000, and we are witnessing this fact now. In addition, the legal status of Bitcoin is improving positively, it is more acceptable now.

[Sled]

The factors that give Bitcoin its value are the same factors that give Gold its value, a goods with limited volume in addition to the possibility of storing it for long time without any lose in its properties, but I think Bitcoin is better than Gold because it is easy to store and buy/sell.

I agree with you but hard to spend, bitcoin value is more superior than gold in many aspects but to safe investment gold is superior because bitcoin value tend to change rapidly. I also experienced the same thing as op precisely in early 2015 where bitcoin prices falls, different from now that bitcoin prices bounced

If you believe in Bitcoin, there is no thing to worry about, Bitcoin price goes up and down but in total it is on up trend, so if you want long term investment you just need to buy and store, during 2016 the investors were expecting that 1 Bitcoin will worth more than $1000, and we are witnessing this fact now. In addition, the legal status of Bitcoin is improving positively, it is more acceptable now.

That up and down scenario of the bitcoin is very great opportunity to make a lot of money (If you are a trader) because that is why bitcoin is very popular to internet geeks or former forex traders because the price is very volatile and most of the times it always goes up and it is very good for long term. As what you said, 2016 investors are wishing for 1000$ and now that is happening and that is why bitcoin is very worth it.

[The_Dark_Knight]

It’s a game of trust. The currency note in your pocket has some definite value of $1 or 100 INR etc because the concerned government has agreed to pay you that respective amount so you trust that the instrument possesses the some value and thus everyone other. Bitcoin is not different, people around the world have faith in bitcoin and thus they believe that bitcoin has a certain value of $1,000 and this mutual trust is known as value.

The value of bitcoin probably depends on trust, because if the community stops trusting bitcoin, it would become like other currencies who does not have trust among people. The only thing that makes bitcoin the best and different from others is the trust coming from the people  around the world, the belief of people that bitcoin will always be of great value.

The best thing is.. you don't have to trust anyone or anything.. you just have to trust Math..
And since math can be proven its a bullet proof concept.
Its a currency backed up with Math and Calculation Power.

Yes math has crucial role in determining the price but at the same time the current price is determined by the buyers and sellers in the market and buyers purchase bitcoins because they trust that market will buy bitcoins from when buyer wish to sell so it's the mass trust which makes it valuable IMO.

the only thing that matters is "demand" and yes supply too but since supply is not changing and there is always nearly the same amount of bitcoins being sold on the market, the only other factor is going to be demand.

and that means the number of people who are investing in bitcoin.
the nice thing about bitcoin is that it doesn't belong to one nation or one group of people. instead it is global which means all the people from all around the world are going to buy bitcoin but this takes time since not everyone trust the system at first and many don't even know about it.
and as more people come in, price goes higher and higher.

the only limit is the population of the world!

Or maybe the limit is the number of open minded people. There are some that don't even want to use smartphones because back in the day, they didn't have it so that means they don't need it. Those are mostly the elder people.

When we hype up bitcoins, there would still be those people that are very reluctant of everything. Bitcoin is just a currency. Does everyone use USD? No. Does everyone use Chinese Yuan? No. I think the same thing would apply to bitcoins as well. Not everyone would be using bitcoins as long as there are other options like altcoins and fiat money.

The amount of people is a limiting factor, but there are many other factors, for example access to electricity, while having electricity is a given in the first world, about one quarter of the human population don't have access to electricity, and if someone does not have access to electricity, it is very unlikely that person will have access to bitcoin.

[simpler2016]

The Bitcoin is worth because it is safe way to send and get money from other people.
And Bitcoins keeps getting supporters what will make it worth grow.

Yes, you are right Bitcoin community is growing every day. This strengthens Bitcoin and making it stable.
Bitcoin For me - it is the most convenient way to pay some fees