Why is there such demand for Bitcoin?

[saharsh89]

Bitcoin is a technically advanced solution to distributed consensus, which is nothing but an agreement to whether a transaction has happened or not. Distributed consensus is reached in Bitcoin easily because it is a currency, and incentivizes the nodes which reach the agreement. For a transaction to occur between two individuals, banks and credit cards or organizations like paypal act as a mediator in between and take away 1 to 2% in commissions, whereas there is no such commission in bitcoin. Two people agree to doing a transaction, a bitcoin exchange happens and is recorded to multiple nodes. Each partical or full bitcoin transfer from one individual to another is recorded across nodes and therefore the receiving individual cannot deny the transaction. The use of digital signatures algorithm makes it secure as well.

[Nefarious]

There's lots of reasons for the increased demand: As the community has grown larger, more people have bought in causing the price the price to rise. This increase in price has lead to more media exposure which has increased awareness & adoption at an even greater rate. The barrier to entry has become smaller too, as Bitcoin is seen more legitimate & less shady that it was in the past. There's more wallets & exchanges than ever as well as more people who can help newbies learn the ropes.

[zombie6]

because this is a mad profitable investment! a very strange question, his course is just a fantasy of which only dreamed of before

[ethbringer]

the most important reason is the huge profit of bitcoin now, but i think there are still some people who believe bitcoin will change the world by decentralization and traceability blockchain

[Sithara007]

because this is a mad profitable investment! a very strange question, his course is just a fantasy of which only dreamed of before

So far, Bitcoin has given a ROI of close to 1,600% this year. But there is no guarantee that the same will repeat in 2018. Going from a market capitalization of $20 billion to $350 billion was relatively easy. But the journey from $350 billion to $1 trillion is going to be much harder and full of obstacles and impediments.

[shellsshells]

Awareness has really made bitcoin popular. More people know about crypto currencies, more people want to invest and more people want to be part of the profit that comes with the increase in price of bitcoins.

[jj007]

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.It’s reasonable to wonder of course what has risen is the price; as to the value, that has yet to be determinedand same is the case with demand for it.

[setupbounds]

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.

This a fact that the future of bitcoin is very much bright and so many people have already changed their present and future with bitcoin. Bitcoin is at present one of the most profitable investments of the world. Too many people are after bitcoin just because of its high potential of generating huge returns. Indeed the ever increasing bitcoin prices are playing major role in the popularity of bitcoin all over the world.

[sudzee2196]

The reason is bitcoin is the most secured cryptocurrency atm and it also has many advantages like less transaction fees and many others...so this is one of the factor y there is so much demand for btc .

[carlowell]

2017 is the year of bitcoin. Why? Despite of the existence of bitcoin few years ago, this year has become the most shocking increase of bitcoin, and that news kept the people wondering what really is bitcoin? People were hoping to at least join while it is not yet too late and that amount of curios newbies adds the demand of bitcoin.

[cryptocent94]

It's simple the rate of awareness of bitcoin is like speed of light more and more people are embracing it daily so the high demand

[Alexnelepa92]

Limited edition. As noted, the number of bitcoins limited to 21 million coins. December 2017 produced 16.7 million, so were 4.3 million As a result, the currency is not afraid of inflation. Moreover, restriction of emission contributes to the improvement of the course. The money is often compared to precious metal (gold) — it is difficult to produce, and available resources come to an end.

Trading on the stock exchanges. With the advent of new crypto-currencies last traded in tandem with Bitcoin. With the increasing demand for altcoins is easier to explain why the growing rate of Bitcoin. In particular, Litecoin, Monero or other virtual coins you have to buy for BTC.

The expansion of the network. The growth of the market prices attracts new Internet users. People create wallets, buy virtual money, make full units and engaged in mining. With the expansion of the Bitcoin network grows, the usefulness and demand for the cryptocurrency.

Positive news. The cost of virtual coins depends on a number of factors, including news background. Answering the question of why Bitcoin increases in value, many cite the emergence of positive news on the recognition of virtual money in large countries. This provokes the demand that generates an increase in rate. Negative news have the opposite effect — they often lead to a trend reversal and a sharp drop in prices. Example — the beginning of 2017, when the report of the SEC in respect of the ETF Winklevoss led to the drawdown of the course the virtual coins.

The emergence of new technologies. Considering the growth of Bitcoin and the reasons for this trend, it is worth noting the impact of technological breakthroughs associated with cryptocurrency. They simplify the network and increase its reliability. As a result of growing confidence in the system, the demand and price.

[luigidosado]

People nowadays become more aware about bitcoin and how it works. Thus, it attracted more users than before through social media promotions and rumors. Whre in in bitcoin, the market dictates the value of it. That's why as more and more people use it, the higher it get its value and vice versa. Bitcoin also, is more accessible to people.

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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.

People today are more link about social media. It constantly strikes us from a simple posting and inviting the links they have. And some of us are practical and willing to earn on its easiest way. So that Bitcoin are easily to share on media and it becomes more popular. Its digital currency are more likely catchy by the eyes of many people that using mobile phone you can now deal with it.

[Drakula]

It's simple the rate of awareness of bitcoin is like speed of light more and more people are embracing it daily so the high demand

If you will compare tha demand of people for Bitcoin 4/5 years ago and today; the demand today is high. I think the reason behind it is because of its price. As the price increases, the demand of people also increases. Their excitement is getting higher as they see the unexpected value of Bitcoin.

[aencarnaci]

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

its very simple the reason is the more demand on bitcoins the higher price it will cost. means the more user for bitcoins the price increases. and because bitcoins is the most popular crypto  more people  people getting interest.

Supply and demand is the very basic principal which is being followed not only in the case of bitcoin but in almost all the things like that of bitcoin. The only reason behind this much demand of bitcoin is that there are more number of people who are getting to know about bitcoin with every passing second.

Looking at the advantages which they can have by having bitcoin, most of them are going for buying of bitcoin which is resulting in more market value of bitcoin.

[X2PR8888]

I think there is such high demand in bitcoin because of its increasing value every time plus the fact that less bitcoins are being mined as time progresses.  The idea of it becoming a rare currency plus its value now make it so appealing to crypto isers and traders worldwide.  Also, let us not forget the qualities that bitcoin has as the reasons why it is so in demand everywhere there is talk of cryptocurrencies.  Bitcoin is decentralized monetary crypto and as such makes it easier for people to store and transfer funds wherever you are in the world.  Second, its increasing value as a service makes it convenient for people to do transactions using it online: you could purchase so many things with it now compared to its early years.  So summing up, versatility with what and how you can use it plus its value makes it so demanding in today's market.

[nick_nick]

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

Prices are forced to rise when demand for a particular commodity exceeds the supply of it. Even though bitcoin is mined across the globe, I still believe the demand placed out by users and investors far outwits the amount mined

[Wintersoldier]

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 of it's current value and of all the craze that's been going on, people are now more aware of the BTC phenomenon. And so more and more are trying to get into the scene trying to get hold of every little bit of BTC they could. Fewer are getting mined,  and so more are rushing in to get some of those coins. It's similar to a panic buying in grocery stores whenever some kind of event will or is taking place.

I can say that people has become aware of bitcoin and it's potential that is why the demand has increased. And continues to increase despite of the change or inconsistency of it's value price. People always wanted to earn, and bitcoin is one of the great way of earning. And because bitcoin has become more popular and known to people, everyone wanted to grab the opportunity to earn with it.

[w33man]

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

I think more and more people are finding out about bitcoin. Perhaps one of the greatest influence that affects people's awareness is social media. A lot of people are finding out how bitcoin works and feel the necessity of investing or getting involve in any bitcoin activities. This may be the reason why bitcoin's demand is increasing.