Why is there such demand for Bitcoin?

[rockyshala]

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

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[OmegaStarScream]

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.

[aardvark15]

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 has become a scarce commodity because there is a limited supply and fewer mined each year. 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.

[charlotte04]

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

Simple, because it's new, and it kinda makes you rich much easier and quicker. Everyone wants to adopt it in an early basis.

[rayymat]

because after every trx bitcoin is getting burned and due to loss of so much private keys, demand is ever increasing because it is father of all currencies and it is base currency of all exchanges over the world

[vltnqefi]

because after every trx bitcoin is getting burned and due to loss of so much private keys, demand is ever increasing because it is father of all currencies and it is base currency of all exchanges over the world

Yes, I think that death wallet account must be far more than imagine, a lot of COINS forever "disappear", perhaps we should thank the people of contribution, further contributed to the scarcity of the currency.
At present, the mining difficulty is still increasing, so prices will definitely continue to rise, in the long term.

[SMB-2525]

Bitcoin has many of the attributes of gold as a store of value.
People want to hold Bitcoin for the same reasons they want to hold gold. While gold has been relatively flat, the recent increase in the value of bitcoin is attracting more investors.
It is interesting to me to see die-hard gold bugs poo-poo bitcoin.

One thing that is attractive is that the supply of BTC is known and fixed. It does not change no matter how high the price rises.
In the case of other commodities, the higher the price, the more supply. This is because it becomes economic to "mine" marginal sources as the price increases.

[n4poleon]

Financial sovereignty. Power tends to corrupt, and absolute power corrupts absolutely. When you put people in power they will abuse it. When you deposit your money in a bank, is it still your money? Maybe, mostly likely not anymore.

[Lucius]

People are interested in BTC mostly because of the possibility to bring them big profits,as you say 1$ in 2010 now worth 58k$ and if you invest at the beginning of this year you will make very nice profit also.Many will say that BTC is digital gold and most people want to own at least one small part of that asset.We can only assume that demand will be even greater in the years to come,and next halving is in year 2020.This means reducing production by half compared to today,and there is 16 680 825 BTC mined so far from 21 million.It may seem that the 4 million is big number,but by the year 2032 almost 99% of all BTC will be mined-so if you want to get some now is the time

[jerowacik]

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

If compared to the year 2010 of course this will be very crazy and when we can all become a fortune-teller then everyone will become rich. this is a natural law that states that anyone who dared to risk so he is entitled to get a chance to earn a lot of money. as it did in 2010, there may not be many people who believe in Bitcoin because at that time Bitcoin is still new and not very trusted, but the fact is that Bitcoin is now one of the most valuable assets and people who belittle Bitcoin on 2010 will be very disappointed. they may lose some of the same golden opportunities we get today. so when there is some speculation that shows an impossible thing then we only have two choices that follow or not.

[andthereyou]

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

People will invest where they make profit. It's the same in BITCOIN, stocks, real state, gold or any precious metal. Take for example a stock, the price will skyrocket when the company announce good report or something like a dividends. Similar happened to bitcoin during fork announcement.

[MintCondition]

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

People will invest where they make profit. It's the same in BITCOIN, stocks, real state, gold or any precious metal. Take for example a stock, the price will skyrocket when the company announce good report or something like a dividends. Similar happened to bitcoin during fork announcement.

Just the fact that it reaches amount we didn't expect to reach before then definitely people will be interested on it especially now that it proven by many how really possible it is for us to earn and have some business too, its the future crypto that will be used by many businesses soon.

[mrcash02]

Because Bitcoin turned into a very profitable investment (maybe the most profitable investment in the world accessible for anyone), because is looking for new ways to make online purchases and have seen the potential of the digital currency and many other personal reasons, but the mainly one is the fact Bitcoin is very profitable and people want to grow their money fast.

Since Bitcoin was created some people have already became rich or millionaires just by holding it. The easiest big money they made on their lifes, it's like winning on the lottery and only few people were lucky (or deserved) to achieve this because they trusted on Bitcoin since its beginning. When people tell their success stories to others it makes everyone believe the same can happen to them, so the demand increases instantly and with "proof of work" it increases even more and faster.

[waynechong1995]

The miner side is pretty much saturated with those that already profited with some other rushing into with existing and newer rigs, still this phenomenal is not well justified for its current price. I think what contributes is the nature of bitcoins for being trade-able and exchangeable into fiats, along with medias reporting how well bitcoin is doing and why they should join like a sort of gold mining rush, and soon enough people are settled down, with their assets here and considering the cryptocurrency ecosystem still young and unregulated. We are expecting profits and the demand would continues for years until a bright future is seen.

[pinkliar]

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

People will invest where they make profit. It's the same in BITCOIN, stocks, real state, gold or any precious metal. Take for example a stock, the price will skyrocket when the company announce good report or something like a dividends. Similar happened to bitcoin during fork announcement.

Just the fact that it reaches amount we didn't expect to reach before then definitely people will be interested on it especially now that it proven by many how really possible it is for us to earn and have some business too, its the future crypto that will be used by many businesses soon.

so this is really in demand just because for some speculation of the price that can reachable by it is so shock by the others so when they know that bitcoin can reach on that price it is now indemand cause first they want to have a huge of profit.

[Carlsen]

People want to get rich... I think it's really that easy.
And when it comes to bitcoin, they have a pretty good chance to be successful.
When we look how few people only came in touch with it until today and compare that with the price we have already reached, that gives hope that this might really be the way to become wealthy.
Nearly 80 % of the bitcoins are already mined, and a lot of their owners are long term holders.
That means the other 20% must be enough for the rest of the world. I think that is why many people think: Better get one while you still can!

[Daniel91]

For me it is not a big surprise.
A lot of people are trying to earn on the Internet, and mostly unsuccessful.
I can share my own experience.
I tried before many different ways in order to earn on Internet, like revshares, Forex, MLM etc. but everything failed.
With bitcoin I'm finally earning my first money online.
I guess it's the same for many other people here.
People buying bitcoin because they are hoping to make money.

[SMB-2525]

Bitcoin is in demand as an investment with a potentially unbounded upside and almost no downside (right now).
Now that I think about it, it is more like a rare painting than gold. It has a well defined supply.
An art investor pays millions for a painting in expectation that in 10 (or so) years, someone will pay more.
So the type of people who invest in fine art are  starting to invest in Bitcoin.
Like fine art, it has no intrinsic value.

Now, the downside seems to be extremely limited because of all of the new money flowing into bitcoin.
This is money from very sophisticated investors.

What is the upside?
Unknown.
People who should expect to get rich in 1 or 2 years will probably be disappointed.

Now is not the time to sell though.

[btcprospecter]

Every one that is new to bitcoin hope to see the same returns as what you have shown since 2010. With that people want bitcoin.

[crazyivan]

What do you mean why? Cause people want to get rid of the banks, enjoy advantages of decentralization and finally MAKE SOME MONEY.

Plus BTC s cool, way cooler than Paypal or credit cards.