Why is bitcoin worth? Welcome to discuss

[gabmen]

why bitcoin was worth it because bitcoin currency has more value and many argue bitcoin is a new era in terms of currency the bitcoin also has more features than the fiat like fast transaction, fee low so reasonable that decent bitcoin

Well i agree with what you've said here dude. For the longest time, we've been using fiat currency and we've benefitted from it but bitcoin came in with a lot of new features that basically makes transactions a lot easier to a certain point. We still need fiat but i bitcoin is a fresh new way to transact things and that's what makes people believe in it

[Yuuto]

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.

Bitcoin is a technological transformation of the entire banking system. It has the ability to replace all the banks as well as all the moneyy remittance firms such as Western Union and Monogram.

The ability to function properly as a currency is what gives a currency its value. Its scarcity as well, however it is mostly the amount of trust people are willing to put into the currency. The more someone think that a currency is stable, the more stable it is.

Technically the perfect money system would be a currency that can be consumed and used as something. However, something that can be consumed is easily perishable and not always a good currency.

[xypos]

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.

Economics is always full of people’s perceptions, expectations and emotions. Think about it, gold has no value intrinsically really(although people say that gold can be used in mobile phones, cars, buildings etc etc the amount actually used is minuscule compared to the amount of gold that is used as investment by speculators). But people still view it as a good store of value.

The point is that bitcoin is decentralized, just like gold and silver. That means no one can print it for free, unlike the fiat currencies around the world.

Why is bitcoin worth more than Dogecoin? Because more people use it and it’s more scarce, much like the relationship between gold and silver.

[Idrisu]

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.

I think bitcoin is very valuable as one bitcoin is high than one ounce of gold. What makes it valuable mostly is how the market see it. People may not accept bitcoin for now but the market has proved it to be an assets you can buy and hold as gold. I do believe that if bitcoin is accepted as a mode of payment then expect it values to increase upward.

[Rostadom]

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.

Things don’t have intrinsic value, all the value something has, has to do with the beliefs of people, if people believe something is valuable or useful then it will be valuable, look at petroleum before the development of machines powered by it, people looking for water and that instead found petroleum got mad because of it but then that changed as petroleum became an essential part of the economy.

It's not "belief" that makes things valuable. It's the fact and the market. Since back then petroleum don't have a market and when you sell it to people without saying its use, people will just think that you're selling a bad type of water. You can "believe" that coin X is valuable but without a market, you're just fooling yourself. For example, coin X actually costs 1 satoshi each. But because you've read their ANN thread or their white paper, you "believe" that it's valuable although it isn't because, for instance, the developer has abandoned the project long ago.

[Kolder]

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.

Things don’t have intrinsic value, all the value something has, has to do with the beliefs of people, if people believe something is valuable or useful then it will be valuable, look at petroleum before the development of machines powered by it, people looking for water and that instead found petroleum got mad because of it but then that changed as petroleum became an essential part of the economy.

It's not "belief" that makes things valuable. It's the fact and the market. Since back then petroleum don't have a market and when you sell it to people without saying its use, people will just think that you're selling a bad type of water. You can "believe" that coin X is valuable but without a market, you're just fooling yourself. For example, coin X actually costs 1 satoshi each. But because you've read their ANN thread or their white paper, you "believe" that it's valuable although it isn't because, for instance, the developer has abandoned the project long ago.

Right they're value depends on the economy, if its  economical or not. People who'd know the benefits and value of bitcoin knows when the proper time to use bitcoin ,especially when its value is at peak. And knows when to wait when the value goes down.

[BitcoinPC]

Investors and nonprofessional people have different thinking about bitcoin. But in my thinking now bitcoin is still worth-able and its price groow above $1000. So we have no argue to discuss about bitcoin price value. In my eyes, bitcoin already achieved a successful place and now it is depend on ourself how we gain and make profit from bitcoin.    

[mastermold]

because it is designed and implemented in a way that it can serve as something that can have value, and because people find useful to utilize those features and believe that other people will continue to use it in the future.

This is similar to gold - as gold has value because its chemical properties make it suitable to be useful and people did use it because of these properties and believed that other people would use it in the future.

[deisik]

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

There are basically two sources that give Bitcoin value

First source is its use as a genuine currency. For example, if you are enrolled in a signature campaign and got paid for posting, this would count toward Bitcoin being used as a currency, i.e. you are paid for providing a service to someone who needs it. If you use Bitcoin for trading ("buy low, sell high"), this would count toward Bitcoin being used as a vehicle for speculation, i.e. it will be a financial, or speculative (which is essentially the same) asset. Obviously, today most of Bitcoin value comes from sheer speculation, not from its use as a currency. Things might change in the future, but so far we have to acknowledge this state of affairs

[MoneyIsDebt]

why bitcoin was worth it because bitcoin currency has more value and many argue bitcoin is a new era in terms of currency the bitcoin also has more features than the fiat like fast transaction, fee low so reasonable that decent bitcoin

Well i agree with what you've said here dude. For the longest time, we've been using fiat currency and we've benefitted from it but bitcoin came in with a lot of new features that basically makes transactions a lot easier to a certain point. We still need fiat but i bitcoin is a fresh new way to transact things and that's what makes people believe in it

i think the way people are accepting it and the way a lot of people adopt it i think the future of it is bright and i think the way the more and more people are investing in it and the way alot of people are also intrusted in mining this is also a plus point for bitcoin progress and i think in future as more people are coming towards online shopping the bitcoin is the ideal currency for them. .

[ralle14]

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.

That person is definitely wrong. It's value will definitely rise because there's only a limited amount of bitcoin that can be made by the miners. Also there are many ways to use/spend bitcoin thats why there's a huge demand for it.

Things might change in the future, but so far we have to acknowledge this state of affairs

Looking at the numbers, things will definitely change in the future.

[Samadur]

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.

That person is definitely wrong. It's value will definitely rise because there's only a limited amount of bitcoin that can be made by the miners. Also there are many ways to use/spend bitcoin thats why there's a huge demand for it.

Things might change in the future, but so far we have to acknowledge this state of affairs

Looking at the numbers, things will definitely change in the future.

For this you need to have very strong beliefs and all the more faith in bitcoin. When prices drop a little, you need to find the strength to believe in and buy more bitcoin, but there is not always so much determination. I have already decided that there is less risk of simply working on company signatures.

[deisik]

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.

Economics is always full of people’s perceptions, expectations and emotions. Think about it, gold has no value intrinsically really(although people say that gold can be used in mobile phones, cars, buildings etc etc the amount actually used is minuscule compared to the amount of gold that is used as investment by speculators). But people still view it as a good store of value

You are factually wrong about gold

Half of all gold is used as jewelries. There is a little less than 200,000 tonnes of gold that has been extracted during the millenia that gold has been sticking around. One gold ring weighs about 2 grams, and if we made gold rings from all gold out there we would get only 100 billion gold rings. This is not a big number given that the world population is over 7 billion people. Just 15 gold rings for every human being. Add to this gold watches, necklaces, earrings and you will get an idea. And this is what's called direct use (or what represents intrinsic value if you please)

[Erza]

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.

That person is definitely wrong. It's value will definitely rise because there's only a limited amount of bitcoin that can be made by the miners. Also there are many ways to use/spend bitcoin thats why there's a huge demand for it.

Things might change in the future, but so far we have to acknowledge this state of affairs

Looking at the numbers, things will definitely change in the future.

For this you need to have very strong beliefs and all the more faith in bitcoin. When prices drop a little, you need to find the strength to believe in and buy more bitcoin, but there is not always so much determination. I have already decided that there is less risk of simply working on company signatures.

Of course it has less risk just to enroll in signature campaign, you will get paid from btc and you dont even need to spare your money keep on buying it. But how long are you gonna do this thing? Signature campaign can't be really long investment like you said by working for them. If you want to earn more you should put some more to invest because many people believe bitcoin price will hit higher price

[andrei56]

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.

Yes it is not true that bitcoin has no value. If bitcoin does not have value why does the government considered it as a threat and wants to suppressed it. If bitcoin has no value why do people used it for transactions and work hard to earn it. A thing has a value if people give value to it even if others do not.

Exactly, this is how valuable and worth of bitcoin, it is being threat to some other country.
People are trying hard to earn it, bitcoin is totally worth earning because of its easiness to access and fast transaction unlike to other. In future we shall see more of bitcoins circulated and being used.

Since there is a limit in the amount of coins there are then that makes bitcoin valuable because people know there is a limited supply of the coin and that is never going to change because no one is going to accept a change in the protocol in that aspect.

[TastyChillySauce00]

Investors and nonprofessional people have different thinking about bitcoin. But in my thinking now bitcoin is still worth-able and its price groow above $1000. So we have no argue to discuss about bitcoin price value. In my eyes, bitcoin already achieved a successful place and now it is depend on ourself how we gain and make profit from bitcoin.    

Succesfull for a currency in my perspective is not determined on how much the coin's value is, but how's its coverage and usage in this world. It's no use if there's some altcoins which have overwhelming value but only be used among communities which coverage is low. It's ain't real currency but more likely a valuable digital properties.

[Text]

Bitcoin is valuable that's why users are afraid to lose it. I found it very worthy because it has opportunities like making transaction fast and easier. Actually, I don't know what will happen to me or what would I do if bitcoin will vanish. It will make me sad if that happens because this is the only way why I'm making money online that really helped me a lot to provide my daily needs.

[choppork]

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.

Yes it is not true that bitcoin has no value. If bitcoin does not have value why does the government considered it as a threat and wants to suppressed it. If bitcoin has no value why do people used it for transactions and work hard to earn it. A thing has a value if people give value to it even if others do not.

Exactly, this is how valuable and worth of bitcoin, it is being threat to some other country.
People are trying hard to earn it, bitcoin is totally worth earning because of its easiness to access and fast transaction unlike to other. In future we shall see more of bitcoins circulated and being used.

Since there is a limit in the amount of coins there are then that makes bitcoin valuable because people know there is a limited supply of the coin and that is never going to change because no one is going to accept a change in the protocol in that aspect.

Not everything that's limited is valuable. For example, my personal pee/poop is limited and I can only pee a couple of times a day and poop once or twice a day. My pee/poop is not valuable in any way because it's not special at all. But when a thing is limited, that means it's scarce. That means when people thinks it's valuable, the price will increase depending on the supply and demand.

Look at bitcoins, the price is depending on how many bitcoins is in circulation and how much people are trading it. Other coins have limitation too in the number of coins that will ever be out but not every coin is as valuable as bitcoin. Just think of dump coins out there. They also have limit but they aren't valuable at all.

[deisik]

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.

Yes it is not true that bitcoin has no value. If bitcoin does not have value why does the government considered it as a threat and wants to suppressed it. If bitcoin has no value why do people used it for transactions and work hard to earn it. A thing has a value if people give value to it even if others do not.

Exactly, this is how valuable and worth of bitcoin, it is being threat to some other country.
People are trying hard to earn it, bitcoin is totally worth earning because of its easiness to access and fast transaction unlike to other. In future we shall see more of bitcoins circulated and being used.

Since there is a limit in the amount of coins there are then that makes bitcoin valuable because people know there is a limited supply of the coin and that is never going to change because no one is going to accept a change in the protocol in that aspect.

Not everything that's limited is valuable. For example, my personal pee/poop is limited and I can only pee a couple of times a day and poop once or twice a day. My pee/poop is not valuable in any way because it's not special at all. But when a thing is limited, that means it's scarce. That means when people thinks it's valuable, the price will increase depending on the supply and demand

Obviously, scarcity is not enough to make something into a highly valued asset

Apart from scarcity, it should also have utility, i.e. be useful in attaining certain ends which people in general strive for. Again, utility alone is not enough, for example, people can't live without air, it is vital to them, but since there is plenty of it is not valued. Most of Bitcoin utility comes from its being used as a speculative asset since it allows to earn decent profits through price changes (volatility), both on the way up and on the way down. If Bitcoin price didn't change much (let's assume that), then it would quickly lose this usefulness, though it could acquire some utility because it would likely get more traction as a means of payment accepted by a greater number of merchants

[poplolnman]

Investors and nonprofessional people have different thinking about bitcoin. But in my thinking now bitcoin is still worth-able and its price groow above $1000. So we have no argue to discuss about bitcoin price value. In my eyes, bitcoin already achieved a successful place and now it is depend on ourself how we gain and make profit from bitcoin.    

Succesfull for a currency in my perspective is not determined on how much the coin's value is, but how's its coverage and usage in this world. It's no use if there's some altcoins which have overwhelming value but only be used among communities which coverage is low. It's ain't real currency but more likely a valuable digital properties.

right , you can see there's altcoin named bitcoinplus and looks onfire in the last few days have a value 0.004 jump to 0.12 within a day but dropped again to 0.03 in the same day. why it's happened? the community/user come to take advantage only , while in bitcoin it has well established enough compared to other cryptocurrency and people make it as future investment plan. 100% agree with you.