Don't trust anyone who tells you how much Bitcoin is worth

[CryptoBry]

What's the value of Bitcoin? I can't tell you that, but I can tell you something equally important: No one knows.

Not a single person can tell you what the price of Bitcoin will be tomorrow, in a month, or in ten years. Not the Core development team that's (sort-of) directing the course for the booming cryptocurrency, not those ubiquitous ads that claim you could be earning millions on crypto, not even Satoshi Nakamoto, Bitcoin's secretive creator (or group of creators) whose identity is still a complete mystery.

The true value of Bitcoin has become a source of debate recently after its price has risen sharply in the past year despite issues like a recent split into two separate systems and moves by China to ban cryptocurrency trading. That has led to concern about Bitcoin's future, and posed the question—is Bitcoin really worth anything?

Bitcoin is a category-defying beast. It's not exactly like gold, not exactly like currency, and not exactly like company stock, and yet it exhibits behavior similar to all of these asset categories. It escapes the confines of economic theory: Try to define it in strictly economic terms, and you'll fail.

More of this nice article here...

Bitcoin is really a new category and those people who are trying to define Bitcoin and its value based on the past analogy may not be doing justice to this digital currency. While we have to look into the past, it would be much better if we focus our energy more on the future. And Bitcoin is the future of money happening today. Bitcoin is different, it is unique and it is valuable on its own right.

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[Kotone]

What's the value of Bitcoin? I can't tell you that, but I can tell you something equally important: No one knows.

Not a single person can tell you what the price of Bitcoin will be tomorrow, in a month, or in ten years. Not the Core development team that's (sort-of) directing the course for the booming cryptocurrency, not those ubiquitous ads that claim you could be earning millions on crypto, not even Satoshi Nakamoto, Bitcoin's secretive creator (or group of creators) whose identity is still a complete mystery.

The true value of Bitcoin has become a source of debate recently after its price has risen sharply in the past year despite issues like a recent split into two separate systems and moves by China to ban cryptocurrency trading. That has led to concern about Bitcoin's future, and posed the question—is Bitcoin really worth anything?

Bitcoin is a category-defying beast. It's not exactly like gold, not exactly like currency, and not exactly like company stock, and yet it exhibits behavior similar to all of these asset categories. It escapes the confines of economic theory: Try to define it in strictly economic terms, and you'll fail.

More of this nice article here...

Bitcoin is really a new category and those people who are trying to define Bitcoin and its value based on the past analogy may not be doing justice to this digital currency. While we have to look into the past, it would be much better if we focus our energy more on the future. And Bitcoin is the future of money happening today. Bitcoin is different, it is unique and it is valuable on its own right.

I agree with you as no one really knows. Its price is dependent on so kany factors and is always a toss coin on whether it would stay afloat or not. Bitcoin is volatile and might be there or disappear if not properly situated to be stable and that is why i agree that no one really knows.

[dothebeats]

Bitcoin's price today is what the agreed price is by (possibly) millions of traders around the world. I can sell my bitcoins for a million each, and that is my price for my item, and you can set yours to a thousand or even ten thousand, but the problem is that no one would agree to it and buy it due to the fact that several millions of people think otherwise. Bitcoin is probably worth nothing, because it's made out of nothing and nobody actually backs it up unlike currencies from the governments, but then people like you and me value it and we subconsciously agree together with a few million people that it's worth what it is today.

It can be a million by tomorrow if all traders subconsciously agree that it is worth as much.

[hatshepsut93]

What's the value of Bitcoin? I can't tell you that, but I can tell you something equally important: No one knows.

Not a single person can tell you what the price of Bitcoin will be tomorrow, in a month, or in ten years. Not the Core development team that's (sort-of) directing the course for the booming cryptocurrency, not those ubiquitous ads that claim you could be earning millions on crypto, not even Satoshi Nakamoto, Bitcoin's secretive creator (or group of creators) whose identity is still a complete mystery.

The true value of Bitcoin has become a source of debate recently after its price has risen sharply in the past year despite issues like a recent split into two separate systems and moves by China to ban cryptocurrency trading. That has led to concern about Bitcoin's future, and posed the question—is Bitcoin really worth anything?

Bitcoin is a category-defying beast. It's not exactly like gold, not exactly like currency, and not exactly like company stock, and yet it exhibits behavior similar to all of these asset categories. It escapes the confines of economic theory: Try to define it in strictly economic terms, and you'll fail.

More of this nice article here...

Bitcoin is really a new category and those people who are trying to define Bitcoin and its value based on the past analogy may not be doing justice to this digital currency. While we have to look into the past, it would be much better if we focus our energy more on the future. And Bitcoin is the future of money happening today. Bitcoin is different, it is unique and it is valuable on its own right.

This can apply to any new tech, when Internet was first created, some people were saying that its useless or won't improve our lives significantly and then there was a dotcom bubble which could have reinforced this sentiment, but can you imagine the world now without the Internet? Same happened with many other inventions - electricity, cars, planes, trains and so on. Of course sometimes new technologies fail because they are too expensive, impractical or way behind their time, but I think usually chances that new technology will succeed are much higher, you only have to make sure that it's a legit invention and not some scam.

[phr0stbyt3]

No one can predict the price only pricr we know is of the past 1$ 1000$ etc , the future can never be predicted anywhere in the world what we are doing is speculating the price which might happen based on bitcoin demand and people preferring it as a better investment. While predicting the price we should also predict how can the price fall by how much it has become a myth that price will increase but future is always unknown

[DaMut]

Actually everbody can predict it as their wish but the only thing that we should know is nobody can see the future.
There are a lot of opinion about their view regarding Bitcoin and the way they value it.you can not deny every single of their prediction or their opinion because they have a freedom to talk or say it loud,the only thing that we should know is read and learn.
Everything that exist in this world have their charateristic,mission,vision,advantage and else.Bitcoin has its own purpose and about the real value about itself nobody yet to know about it.but there will be a lot of prediction will come out,you can choose to believe it or not because it's all speculation

[achmir]

even the charts? well, ive heards there are groups who manipulate the value but still..

[MMysterious]

No one can predict Bitcoins price however they can speculate an amount when they read the charts and could a range of around how much Bitcoin will be worth the next days or whatsoever. But I usually trust my instincts more than anyone who tells me what Bitcoins price will be tomorrow or the next day.

[TheCoinGrabber]

This is what those FUDsters like that Jamie from JP Morgan keep forgetting. They keep insisting that it don't have an inherent value. This is hard for people to see considering it still look new to them. It is basically money that have records everywhere, and can be sent quickly. It's too much for them to absorb.

[beerlover]

No one can predict the price only pricr we know is of the past 1$ 1000$ etc , the future can never be predicted anywhere in the world what we are doing is speculating the price which might happen based on bitcoin demand and people preferring it as a better investment. While predicting the price we should also predict how can the price fall by how much it has become a myth that price will increase but future is always unknown

No one at all. We cannot know exactly what happens tomorrow. All we drop now are basic speculations with hope that one day, it will amount to something. We do not pray for anything negative to happen, but if it does, there is nothing we can do. As much as we hope for positive, we still have no idea where we are all going to end up with this our blockchain pursuit.

[OgNasty]

Bitcoin can be valued and analyzed like a typical company. It’s just now reaching the realm of fair value. This has been obvious since it was at $5, but for some reason people overcomplicate things they don’t understand.

[ivanst776]

My value today is capped based on what I want to sell it. If so many people believe today that it is worth buying bitcoin presently at $10,000 as there will be a huge demand for it in the next few years, then it will be hard to see prices lower than that anymore in any of the exchanges. As @dothebeats rightly said, if I already make up my mind today that I ain't selling any of my bitcoin until it has reached $1m, then that is the value I have placed on it until a day will come for me to someone who is willing to purchase it.

[Funeral Wreaths]

the price of bitcoin now was decided by the people on the market, if somebody tells us it will reach $10k by the end of this year, don't believe easily, no one really knows, but it can possibly able to reach those caps. in the price nobody has the power to see what lies ahead, it is just like  bidding, where in people decides what should be the price for it by day to day.

[Youghoor]

You all are right with that, i am tired of reading posts telling lies about bitcoin, or just reading some posts of people who are only trying to make FUD in this forum, in order to create panic on the market. It is plenty of them, and everytime there are bad news, all those people suddenly appears with crazy charts showing that XX will drop to 0.
Anyway, i still trust in my instict, so i wont sell my coins because of those people.

[Jating]

It can be overvalued or undervalued, so no one really knows that much worth your bitcoin is. In the beginning it is quite cheap. Remember Laszlo? who bought pizza back in 2010 for 10,000 BTC? https://bitcointalk.org/index.php?topic=137.0

He really don't know that this 10,000 BTC would be worth millions by now. So bitcoin can't be really define by what we used to know to price certain commodities. It has its own characteristics that we the community can understand but from the outside, they seems that they have no clue about it, like Dimon who called it a fraud.

[Gozie51]

Bitcoin is a wonder that grows finance, the value is inestimable because nobody can say certainly where price will go . Meanwhile adoption and acceptance by countries is one key I see that will keep growing this digital currency until it will get to an equilibrium where it will either continue to exist or will evaporate for something new to takeover.

[Fireblade]

the price of bitcoin now was decided by the people on the market, if somebody tells us it will reach $10k by the end of this year, don't believe easily, no one really knows, but it can possibly able to reach those caps. in the price nobody has the power to see what lies ahead, it is just like  bidding, where in people decides what should be the price for it by day to day.

it is depending on the interest of the people. if people are interested in bitcoin they will try to trade bitcoin and it will increase the demand of bitcoin and the supply will decrease and therefore the price of bitcoin increase. we have very good example of Doge when people were interested there the price of dogi was so high but whe people stop investment in doge its price start reducing and now we can see that its price trading in a very very low value.

[_Dawid_]

I totally agree with you, everyone here can only have some predictions about its price. But real world, i mean people, goverments, technical issues, miners etc. will create Bitcoin's price. Now we can only show the advantages of crypo, but the question is, how much are these things worth?

[h1h2h3_c]

I totally agree with you, everyone here can only have some predictions about its price. But real world, i mean people, goverments, technical issues, miners etc. will create Bitcoin's price. Now we can only show the advantages of crypo, but the question is, how much are these things worth?

Everybody participating in that because they are making bitcoin famous and people are coming to invest now a days many famous sites also allowed acceptation of bitcoin.

[palle11]

I don't believe any one can actually predict the movement of bitcoin rather what is used to guess the direction that it will go is fundamental. For instance, the news from China earlier this month saw bitcoin rovering in downwards and now I think the downwards are over for bullish. Basically, positive news propels the bitcoin market, again, the Japan adoption.