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Asmonist
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October 30, 2017, 01:29:39 PM |
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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 will depend also on the supply and demand. I guess the demand of bitcoin is higher and the supply is low. That's why when the supply is low the price will rise. Many people are wanting to buy bitcoin that's why the supply cannot accomodate the demand. |
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Zorbak
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Activity: 167
Merit: 10
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October 30, 2017, 01:35:02 PM |
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Everytime it's more expensive due to the high demand, limited supply and because everytime it's more expensive/difficult to generate one, cost of hardware, price of electricity etc
It's not like fiat money that gouvernemts create as much as they want just pressing a simple button.
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rasmadisulaiman
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October 30, 2017, 01:40:53 PM |
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Because bitcoin offers transparency, secure transactions and anonymity. Bitcoin is also widely used by people to do business, because that's the bitcoin can be very expensive.
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Sniar
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October 30, 2017, 01:45:01 PM |
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Because it's overhyped.
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saedasda
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October 30, 2017, 01:45:11 PM |
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Its limited and hard to mine right now and most common reason is due to high demand and people are start using bitcoin as a payment method.
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gabmen
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October 30, 2017, 02:23:37 PM |
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Everytime it's more expensive due to the high demand, limited supply and because everytime it's more expensive/difficult to generate one, cost of hardware, price of electricity etc
It's not like fiat money that gouvernemts create as much as they want just pressing a simple button.
You got that right. Demand has a lot to do with he price hiking up and it's a ripple effect. The more the price goes up, the more people become interested in investing in it. Thus the price moves up even more. |
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Notcalculator
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Activity: 196
Merit: 12
★Bitvest.io★ Play Plinko or Invest!
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October 30, 2017, 02:48:34 PM |
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Because just like what Steve Wozniak said it's better than dollars or gold. Unlike Gold, Bitcoin is more mathematical we know exactly how many bitcoins we have circulating after some number of years. That makes investors really interested in it and got them buying more and more raising the demand and with a limited supply, obviously the prices would start to rocket. Also there's this saying that we should invest in everything China bans. Right now BTC is one of those things that china banned. It might be a good indicator to invest on it now.
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AndriyPilipyak
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October 30, 2017, 02:54:46 PM |
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btc become more popular and few days ago miners said that mine now is more than 20% hardest, plus good news from China
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Manchumichael
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October 30, 2017, 03:00:35 PM |
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Its limited and hard to mine right now and most common reason is due to high demand and people are start using bitcoin as a payment method.
Yes the bitcoins are very less in the market and people are holding bitcoins for a long term to make a good profit. so there is a bitcoin shortage in the market so the price is increasing and it becomes very expensive for a normal people. |
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xiboothrezi
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October 30, 2017, 03:21:58 PM |
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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 will depend also on the supply and demand. I guess the demand of bitcoin is higher and the supply is low. That's why when the supply is low the price will rise. Many people are wanting to buy bitcoin that's why the supply cannot accomodate the demand. true, btc supply only 21 million. at this time, the price is getting higher because bitcoin has started to be known and accepted by society. While bitcoin price is determined by the market, which is about supply and demand. so in recent years the price is getting higher. |
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Getcoinsite
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October 30, 2017, 03:44:31 PM |
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Same as why Gold is expensive.thats why Bitcoin to.because we mine bitcoin in the hardest way.amd with just how many coins remains to be mined.its value continuous to grow and grow,and in a couple of years its prize might go upto million in your currency
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Gotomoon
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October 30, 2017, 03:52:01 PM |
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btc become more popular and few days ago miners said that mine now is more than 20% hardest, plus good news from China
Bitcoin has been popular and being in demand thats why price is expensive. The more users the demand is increasing as to price is become expensive. I believe bitcoin price will be soaring high than the current price. |
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Funeral Wreaths
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October 30, 2017, 04:02:26 PM |
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in my own point of view, it has high value and very expensive because of its increasing demand and low supply which is unable to supply the needs of those who wanted it, therefore it is also common that because of demand the bids are always increasing almost every minute.
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PORN_coin
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October 30, 2017, 04:41:00 PM |
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it's very simple
The greater the demand for currency, the more expensive it is
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Adioliver
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October 30, 2017, 04:50:55 PM |
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Bitcoin is getting more expensive year by year as more and more people have started knowing about this high technology based digital currency.As the number of users of bitcoin increases the value of bitcoin also increases as there are only a limited amount of bitcoins.If the number of people holding the bitcoin is considerably large than the number of people selling it then also the value of bitcoin increases.
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cryp24x
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October 30, 2017, 04:59:45 PM |
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I think this is due to the supply and demand. Since lots of us are hoarding Bitcoin, the supply just gotten thinner and the people who are wanting to buy Bitcoin is getting bigger in number. This is the reason why bitcoin price is expensive. The law of supply and demand commands the Bitcoin price.
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rashmishetty344
Newbie
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Activity: 28
Merit: 0
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October 30, 2017, 05:00:21 PM |
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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.
Thanks to apps and exchanges like Coinbase, cryptocurrencies are easier to buy now than ever before. These services also increase the profile of cryptocurrencies as viable, tradable assets. |
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dharnamonitor
Full Member
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Activity: 448
Merit: 100
★Bitvest.io★ Play Plinko or Invest!
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October 30, 2017, 05:00:48 PM |
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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.
Before it was just same price as a 1 dollar I think?( Correct me if I'm wrong) but now it is worth 6,073.84 as of 12:48 pm 10/31/17 here in my country. So how it became so expensive? Simply because years had past and the popularity of bitcoins have increased and became widely used globally so obviously the demand for this coins have increased drastically and the price will surely increased as the demand increased. Just think about the tulips on 17th century, the Dutch golden age in the history, the tulips became popular that it cost much more expensive. |
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CisColtz
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October 30, 2017, 05:04:55 PM |
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Well bitcoin is expensive now and in my opinion we are in a big bubble ready to burst out but I doubt it will go ever lower than 3k$. You can start gather money and when you think it's the perfect price for you to jump in , do it  |
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rashmishetty344
Newbie
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Activity: 28
Merit: 0
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October 30, 2017, 05:06:55 PM |
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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 isn’t the only cryptocurrency around. New rules governing Litecoin make it faster and easier to exchange. Ethereum, another popular cryptocurrency, recently split into two different currencies, raising its profile and lowering its price of entry. As Bitcoin grew in popularity, so did all cryptocurrencies, which are cheaper than 1 BTC. |
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