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Author Topic: Why bitcoin so expensive?  (Read 6030 times)
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September 26, 2017, 01:09:13 AM
 #1

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

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September 26, 2017, 01:42:34 AM
 #2

It makes no sense to call Bitcoin expensive, it is like calling dollars expensive. You know you can just by a fraction of it? You can buy down to 1/100 millionth of a Bitcoin. This is called a satoshi, after the inventor of Bitcoin. Think of a satoshi as the cryptocurrency and a Bitcoin just as a word for 100 million satoshis. Now it isn't really expensive is it? It is too cheep even.

All the bitcoins in the world cost billions of dollars, is that what you mean by expensive? If that is the case, then take a notice that the amount of money in the world is easily in trillions. That makes Bitcoin an insignificant part of it and it is technologically far superior to fiat currency.

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September 26, 2017, 01:48:07 AM
 #3

bitcoin becomes very expensive one of them is due to the limited amount of currency, in addition to his many ads in various social media that tells that bitcoin will be a global currency is a factor that makes bitcoin very expensive

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September 26, 2017, 01:53:59 AM
 #4

It depends on the currency, but as a good point to that is that bitcoin is really a great to invest with as you can see the more it become expensive the more potential earnings you could have, if you really have the guts to invest then try a little some and you would see the outcome, it is not necessary how much you will buy it is up to you how much you are willing.

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September 26, 2017, 02:02:51 AM
 #5

Its because the bitcoin has many users and investors,that's why the demand is getting higher and the bitcoin is getting rich,as the bitcoin continues to grow up and being known many people are getting interested its because they saw the real effect when using this,and now people are continue using these in many various ways.And many factor of being the most expensive crypto,because bitcoin is the global currency as I say it is the most known crypto,and it has the potential to rule the money.

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September 26, 2017, 02:05:57 AM
 #6

Amount of people who are bitcoin users is more than the amount of bitcoin in the world. More and more demand is unbalanced with a stock of only a few million (my estimates).
The point is a rare bitcoin, the price will be expensive.

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September 26, 2017, 02:08:05 AM
 #7

Bitcoin is expensive simply because it has high demand, and with a very very limited supply; and don't even say "only a cryptocurrency". This is innovation, and the future of money. Also, you don't need to buy one whole bitcoin. You can buy in decimals (e.g. 0.005 bitcoin) or so.

I suggest doing research on this. So you may know why bitcoin isn't "only a cryptocurrency".

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September 26, 2017, 02:13:00 AM
 #8

bitcoin becomes very expensive one of them is due to the limited amount of currency, in addition to his many ads in various social media that tells that bitcoin will be a global currency is a factor that makes bitcoin very expensive

Basically, its prices are going up due to high demand and less supply. More and more businesses start accepting bitcoins for regular usage then its demand will go up but supply may not increase so fast so its prices will shot higher. The current prices may be looks expensive for now but after two or three years these prices may look very cheap so start investing in it instead of worrying about whether it is expensive or not.
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September 26, 2017, 02:30:37 AM
 #9

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.
Bitcoin is so expensive because of scarcity. The more the investors and traders hodl or buy Bitcoins the more the price will skyrocket. I think that it is the main reason why Bitcoin price keep on rising. Crypto community arround the world is increasing in large volume day by  day so it is one of those factors affecting the price of Bitcoin. We can see proof of that when a specific country like China banning cryptocurrency that results in closing of bigger exchanges so the price of Bitcoin dropped because of massive dump.

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September 26, 2017, 03:04:12 AM
 #10

Of course due to the continuing volume of consumers. And it's really worth the price. So its price will increase unlimited. And if there are fewer buyers it will fall. But it is fuzzy because the bitcoins are already widely spread and popular people know it and it has a lot to do with our day-to-day lifestyle. And the only thing to do here is if it's a bad thing for us that it does not really happen. So many people have become financially independent because of this and continue to increase it every day.

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September 26, 2017, 03:17:00 AM
 #11

many hold there bitcoin so it increase the demand. that is why the price increase they want to buy bitcoin before others do. high demand low supply price increase

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September 26, 2017, 03:23:33 AM
 #12

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.

It is because of the strong demand and limited supply. Many people speculate of bitcoin price and traders buy and sell every day that's why bitcoin's price went high because many are willing to have it. It has become valuable since many businesses are starting to accept it as payment option that's why it is expensive now to own one but you can still buy a portion of it if you don't have hundred of thousands of money as what you say. You still have that option because bitcoin is divisible.

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September 26, 2017, 03:30:43 AM
 #13

It was once so low 2009 I think. Its price was only .2 usd. Imagine .2 usd for 4000 usd? That's how this cryptocurrency can go. It can go to the moon. Probably this cryptocurrency will reach 10000 usd in the near future. Just wait guys.

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September 26, 2017, 01:27:36 PM
 #14

Bitcoin is so expensive because it is the oldest crypto currency in market, with the good circulation as compare to other crypto currencies. And the plus point is that most people love to invest on Bitcoins so automatically due to high demand in market the value of Bitcoin increases

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September 26, 2017, 01:42:38 PM
 #15

Bitcoin is very expensive because it now has a huge demand. It is now being very rich. People have become very interested in using Bitcoin daily. Many people have become dependent on it so that they can earn huge amounts of bitcoin. However, we know that the demand for things that increases the value of non-products is increasing day by day.

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September 26, 2017, 01:47:57 PM
 #16

Bitcoin is so expensive if it will be converted to my country's currency it will cost hundred of thousands.
Why bitcoin worth that much even its only a cryptocurrency can someone give me an idea.
i think that bitcoin is expensive because of its limitation bitcoin have a limitation made like cash/money they have a limitation. bitcoin has a high value (if you convert it into your money country) and if one thing is high/expensive i assume that thing is limited only.if you knwo about the law of the demand and the supply in the economics then you must apply it.


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September 26, 2017, 01:50:03 PM
 #17

First, bitcoin value based on market's demand, if theres demand more than supply, the value will increase, even if some of people said that bitcoin is "made of thin air" people will still buy it because it's not "made of thin air" but it's intellectual asset.
The expensive price of bitcoin is because of the bubble and at the moment the current price is bullish.


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cherryganda
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September 26, 2017, 01:51:29 PM
 #18

bitcoin was not expensive ! its just a single dollar  or less before but the price grows .. it really climb up high noone exxpected this to happen Cheesy  but look at it now it has a super high value !

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September 26, 2017, 02:25:38 PM
 #19

Bitcoin is expensive due to global adoption and increase in demand of bitcoin makes it expensive in the crypto market. In US most of the universities started accepting bitcoins as a mode of payment of fees. As days pass by more and more users are coming into the bitcoin network which is also a good factor to increase the value of bitcoin.

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September 26, 2017, 02:34:36 PM
 #20

I think it is because of the many
users and investors in bitcoin.
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