Why is there such demand for Bitcoin?

[Tadhana23]

Basically the first we think that why such demand for the bitcoin is the graph of bitcoin price that every single minutes are getting higher, so too many people think that there is a future in the bitcoin currency.

[rodel caling]

this is the proof bitcoin famous the user population increasing demands for bitcoin using easy uderstanding about bitcoin how its works for the interested people to understand the importance of bitcoin as decentralized cryptocurrency become profitable for their daily life and another for bitcoin quality its easy use for the faster transactions using the new technology also you get huge of benefits.

[Karakyli]

Demand for bitcoin in the past year has increased enormously because people investing in it are hoping to receive excess profits again, due to the growing demand for it. It turns out an interesting situation: the demand for bitcoin is growing due to the increase in the price for it, and the price is increasing with the increase in demand for ditkoin. It turns out something like pumping a bubble. But this situation can not

[whitemacna]

otherwise what's the point from the block halving. The demand is clearly coming from different types of people, investors, people who want a way out of the banking system, Darknet users, gamblers etc. and in these area, compared to fiat, bitcoin is much better.The original demand is built from it being a way to store funds and a way to send funds anywhere in the world without relying on a bank or government. Also the anonymity of Bitcoin attracts users that don’t want banks and governments to control their money.

[Itjoker]

Bitcoin has managed to turn into a full-fledged monetary unit, which suits all people. It is decentralized, it can not be released above the established limit. Accordingly, it does not face inflation, only currency fluctuations.

[OMGyasuo]

One dollar invested in Bitcoin in 2010 is now worth $58,000. One thousand dollars would be worth $58 million. Despite more Bitcoins being mined, demand still by far outstrips supply.

Read More: https://cryptodaily.co.uk/2017/11/where-is-there-such-demand-for-bitcoin/#login

As you say, the profit from btc investment is huge. Although btc is very high at present, the demand is still more than 20m btc, which is due to the profit of btc. One factor contributing to the shortage of supplies is that many people were given thousands of btc in the past but lost it.

[Hui8]

Obviously who wouldn't want to invest money into something innovative like blockchain and then get credited with huge profits in the return. You know yourself how you can make money from the bitcoin by investing just few dollars and then getting back pile of thousand dollar bill! Thats what everyone wants, the money, they want to fulfil the need that they are in. The bitcoin has made lives very easier. Even for me, I was able to nil my education loan all its the help of bitcoin and nothing else. IF I would have Benin the search of my real job up until now then I could have faced bank legally but bitcoin saved my ass at right time!

This and many other kinds of stories are out there and that is why demand of the bitcoin os huge. Its for need or greed but its there for sure. :-)

[parassinghal]

I think its because of its advantages of its use and its value is also rising a lot. And the main thing is that it is the first cryptocurrency. So these are the main reasons of its this much demand.

[Nhor1011]

      Simply because of its value like gold. And it is a good investment. Easy transaction and it has freedom in bitcoin thats why it has a geater demand. A lot of people earn money through this bitcoin.

[Fundamentals Of]

One dollar invested in Bitcoin in 2010 is now worth $58,000. One thousand dollars would be worth $58 million. Despite more Bitcoins being mined, demand still by far outstrips supply.

Read More: https://cryptodaily.co.uk/2017/11/where-is-there-such-demand-for-bitcoin/#login

Bitcoin is treated differently by different kinds of people. The demand for Bitcoin is generally based on this. Some treat Bitcoin as an asset. One group of Bitcoin supporters are holding Bitcoins for the sake of increased worth. Some others are using Bitcoin because it means freedom for them. They don't have to transact with banks and other central authorities with Bitcoin. Some people are also demanding Bitcoin because it is used and well-accepted underground.

[Bonakid]

Bitcoin is like gold and it demand always flactuates so that people are interested in the price value .It is such a indemand now in cryptocurrency because it helps many people financially and also in investments they can make it your money profitable.

[Dodoymabs]

Based on my search in quora.
The reason lies in special features of Bitcoin software and underlying concept.
1. Limited supply: Maximum Bitcoins that can ever be generated from the software is 21 million. When it is limited, it is more valued and priced.
2. Divisibility : lower denomination of Bitcoin is Satoshi. 100000000 equals 1 Bitcoin.
3. Decentralised : Bitcoin software is on open source. There is no owner of this software.
4. Bitcoin Mining : People involved in mining are rewarded with fresh bitcoins.
5. Halving Effect : every four years reward gets halved thereby slowing the supply.
This is the features why bitcoin such in demand.

[Mjeramirez]

There is such a demand for bitcoin because it becomes the most profitable source of investment today, people saw the potential of bitcoin and its rise in value in the past years. This creates enthusiasm for people to buy some bitcoin in hopes that it will continue to rise, and yes, as the demand rises, with fixed supply, bitcoin prices will continue to rise.

[maaydin]

The demand is increasing day by day because people hear the news and the profits that other have made from btc and they want to take their places in the ship as well.

[furry04]

I guess that people hear the success stories from the other regarding btc and profit so they want to be included and even if they don`t have the knowledge they do invest.

[jirene21]

One dollar invested in Bitcoin in 2010 is now worth $58,000. One thousand dollars would be worth $58 million. Despite more Bitcoins being mined, demand still by far outstrips supply.

Read More: https://cryptodaily.co.uk/2017/11/where-is-there-such-demand-for-bitcoin/#login

because we want money that's the main reason why the demand is high it's a fact that no one can survive in the society without money. so why wouldn't you try to make money through investing where you do nothing and wait for your money to increase.

[Shamie1002]

I'm pretty sure less bitcoins are being mined compared to the previous years, otherwise what's the point from the block halving. The demand is clearly coming from different types of people, investors, people who want a way out of the banking system, Darknet users, gamblers etc. and in these area, compared to fiat, bitcoin is much better.

I completely agree.
High demand, less supply. Reasonable, since everyday it's harder and harder to mine bitcoins. Banning of bitcoins in China may have contribute somehow or if every the number of miners there were already covered by new miners still it's difficult to set a proportional amount of bitcoin to the massive adaption of bitcoins.
Before I think one bitcoin is to a hundred users or less that is why prices before are low.
Today, I think one bitcoin is not only to a thousand users.

[virendarnagpal]

End use, result, fruitfulness, utility, profit these are some of the reasons why people demand some commodity or service.  Bitcoin being the newest form of keeping your assets came into existence few years back.  Some people who must have understood it's future invested in this currency.  Because of it's simple payment system without making any payment to banks or intermediaries it started gaining popularity and started widening its people (investor's) base.  With the increase of the interested investors the demand of the bitcoin increased and because the supply of the coin could not increase in the same quantity due to lesser coins mint, the law of Demand and Supply applied here thereby increasing the price/cost of the bitcoin.  That is why the price of one bitcoin in year 2010 which was just one dollar rose up to 58000 dollars.  

Many investors have already become millionaires by investing in it and are motivating attracting  other people to be a member of this precious coin family.  As more and more people are being attracting towards bitcoin demand is increasing and as a result price is also increasing and ultimately people are gaining by investing in it.  A circle is being created because of this reason.  More demand; lesser supply; more profit to investors; thereby attracting more and more new investors to bitcoin; and again results in increased demand.

[wagi]

I'm pretty sure less bitcoins are being mined compared to the previous years, otherwise what's the point from the block halving. The demand is clearly coming from different types of people, investors, people who want a way out of the banking system, Darknet users, gamblers etc. and in these area, compared to fiat, bitcoin is much better.

If less bitcoi is being mined, does it make the fee so high recently? I think so.

If we talk about demand, more people know cryptocurrency from any advertising on website or social network decide to buy bitcoin amd make demand very high.

[BlackPanda]

I'm pretty sure less bitcoins are being mined compared to the previous years, otherwise what's the point from the block halving. The demand is clearly coming from different types of people, investors, people who want a way out of the banking system, Darknet users, gamblers etc. and in these area, compared to fiat, bitcoin is much better.

I completely agree.
High demand, less supply. Reasonable, since everyday it's harder and harder to mine bitcoins. Banning of bitcoins in China may have contribute somehow or if every the number of miners there were already covered by new miners still it's difficult to set a proportional amount of bitcoin to the massive adaption of bitcoins.
Before I think one bitcoin is to a hundred users or less that is why prices before are low.
Today, I think one bitcoin is not only to a thousand users.

Various sectors have started using Bitcoin, the increasing number of users has also made Bitcoin different than it was a few years ago. Currently Bitcoin is increasingly taken into account and can be an important part of economic development in the world. I see that this is a very different thing, Bitcoin has changed people's view that digital currency can be used in everyday life. This is what makes the increasing demand for Bitcoin in the world.