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Author Topic: value of btc  (Read 640 times)
rbyzell
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June 18, 2011, 03:20:19 AM
 #1

hi. i'm really becoming more and more fascinated with bitcoins the more i get into them. can the value of bitcoins be summed up basically like this...?: since there will only be 21 million btc's in circulation 'that's' the value.... right?  gold 'was' created from lead, that's basically what bitcoins are - true? 
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Zeth
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June 18, 2011, 03:31:59 AM
 #2

BTC's value is solely based on what you can get with it. It doesn't have much backing it, which is right now the value is just speculation by early adopters and investors. Silk Road was backing up BTC's value (illegally of course) but it was something that made use of BTC to a lot of people. Value won't have anything to do with rarity. Gold's valuable because, like any precious metal, it has uses in chemistry, has various applications, in addition to rarity. BTC doesn't have any use besides what others decide to give to it.
firefox
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June 18, 2011, 03:33:18 AM
 #3

gold for the most part was not made from lead




and about value of BC...  right now there is something like 6ish million and only 21million will be created by 2032
the if your asking total value then its all BC's in circulation times the amount per coin

total amount per coin is the total amount of all bitcoins divided by the total money value of all bitcoins
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