How does Bitcoin have any value?

[James Messy]

How does Bitcoin have any value?

[mobnepal]

Bitcoin has value because it is not printed by government or banks and have limited supply so there is nothing that can increase its supply and can't have inflation.

There is huge demand for bitcoin from around the world because it is accepted by thousands of merchants worldwide. Also to mine new bitcoin it requires lots of resources (electric + financial) so no any miners will be willing to sell it at lower price for loss.

[groundcontrol67]

How does Bitcoin have any value?

Bitcoins value is derived from its supply and demand and given supply is relatively stable it comes from demand, this is derived from bitcoins utility. There are many reasons people demand bitcoin, cheap and fast transactions, decentralization, increasing price (speculative holding).

[pangolier]

How does Bitcoin have any value?

Because at the past Bitcoin is used for investment method, as its grow and the investors took it for many other uses Bitcoin gained popularity and now it even overtake the average price of a gold bar, making it short it grows because online investment will soon be the thing in the near future.

[kueyen]

How does Bitcoin have any value?

I think the most accurate answer to this is that bitcoin has a value because it allows you to store your funds somewhere off the grid, anonymously. So when you purchase bitcoins, you are purchasing the right to store your money safely and anonymously. Since the demand for this feature has been increasing recently, the price has been going up.

[bitofc]

Bitcoin or rather the blockchain technology has value because the system can accurately register transactions in a trustless network thus solving a lot of real world practical problems.

[shinjunobi09]

Bitcoin has a value it is somewhat rather particularly proving additional investments or funds to its users and investors, it has a value because it has a price which is consumed by the variety of people which interested in investing in bitcoins. Also it has a value because it something we can use as a mode of payment or a currency.

[tiggytomb]

Quick answer is that bitcoin has value because we say it do, people want to buy bitcoin so we have sellers, the price increases due to supply and demand.

[farhan28]

Yes bitcoin has a value...if it is not,why so many people invest in bitcoin...because people know the value...Other reason for more investment because No one can influence the price so it can easily increase...

[ABIR HASAN]

Bitcoin is very populer in any other countries. Beacuse it is high price. It is more popular for students. It grow beacuse it is oneline invesment and i love bitcoin. I thinks bitcoin is more value.

[bakunawaaa]

Bitcoin's value just like any other currency is derived from the community accepting it as a means of exchange. Right now the community has grown significantly big and many of these people are very rich. Some of the merchants in this community only accept bitcoin as payment. As such some services and goods which is difficult to obtain through fiat is widely available through merchants that accept bitcoin. The demand for bitcoin has increased significantly because of this, and that is why the value is super high right now.

[Kprawn]

Have you seen people paying thousands of dollars for game skins before? What value was there for them in those skins? I

am playing a online game now, where we buy crystals {in game tokens} to upgrade faster. Those are digital goods, like any

other physical items you buy. Bitcoin is used to transfer money from country to country..... normally much cheaper than any

other remittance service... those people only use Bitcoin for that reason and that give value for them to move their

wealth.  

[bitkanu]

Because people agree that bitcoin has value therefore there's demands in the market? you can buy stuff by using bitcoin in some countries that accept bitcoin then it's also add up a value to bitcoin
and why it have this much value as it has now, maybe so many people assumming it's bubble, but bitcoin is the future currency and people have agreed upon it.

[dificanovi]

How does Bitcoin have any value?

bitcoin is valuable because it is in need in the crypto currency market.
bitcoin is also needed in various companies and can also be used to invest. other than that bitcoin is also limited and that is what makes it very expensive.

[Stelarion]

Quick answer is that bitcoin has value because we say it do, people want to buy bitcoin so we have sellers, the price increases due to supply and demand.

Great answer. We, the people, trust in Bitcoin, so it has value. Some of us trust in Bitcoin even more than in colored paper with some numbers on it. The more people trust in it, the more value it has.

[Protected101]

Bitcoin is very indemand now because of its value,even though its volatile it was a very increasing price in the market that an investors needs.Other use it as their payment method and they trust bitcoin because it is the only cryptocurrency that popular to the investors it has a great value for them it can make your money profitable.We engage in bitcoin now because it has a strong value for us especially to us that earned here.

[Rahar02]

Have you seen people paying thousands of dollars for game skins before? What value was there for them in those skins? I

am playing a online game now, where we buy crystals {in game tokens} to upgrade faster. Those are digital goods, like any

other physical items you buy. Bitcoin is used to transfer money from country to country..... normally much cheaper than any

other remittance service... those people only use Bitcoin for that reason and that give value for them to move their

wealth.  

This is an understandable explanation, something worth because people decide it's worth.
Since bitcoin created to be an alternative payment method or become digital currency with some advantages, such as mentioned above, but the best idea is decentralized feature, I guess.

Basically, bitcoin is just a technology built on internet but it's at this crossroads of technology.
Bitcoin is a better monetary system, the money of the future. Since people trade it (buy and sell) through exchanges, it's worth something according to supply and demand. The first exchange rate was published in October 2009, listing the value of BTC1,309 for $1, and now bitcoin worth over $10,700 across the global exchanges.

[rasho321]

I'd probably say it's because of two words: future adoption.
There's a finite amount of bitcoin to be mined and it's harder for people to mine it unless you have cheap electricity and a huge system set up to do it. Couple that with the fact that more and more places are adopting bitcoin as a payment method. When the supply gets scarcer and adoption rises, the item in question gains value. Right now it's gaining because of the perceived value of its use 10-15 years from now, maybe sooner.
Let's say you live on an island with a few hundred people. Everyone uses twigs as currency: you clean my hut for 10 twigs and I'll buy two coconuts for you for 5 twigs. It's a means of not having to barter for everything (you're using twigs instead of directly saying "I'll give you two coconuts to clean my hut"). Problem is, twigs are everywhere and just about anyone can get them. They're not worth much.
But one day you find this rainbow-colored seashell on the beach. Someone says, "I'll give you 5 twigs for that, the effort it took you to find it and bring it to me!" You say, "sure!" Your seashell now has a value of 5 twigs, or 2 coconuts, or 1 hut cleaning.
More people start bringing up seashells from the beach. More twigs are exchanged for them. What everyone doesn't know is that there are only exactly 1,000 rainbow seashells on the entire beach, no more. Soon there's a run on seashells. You used to be able to get a seashell for 5 twigs but since people are noticing that the seashells are scarce and that some other people are hoarding them, it suddenly costs 25 twigs for a seashell! Then soon after 40 twigs! Then 100 twigs! Then 500 twigs. Finally, seashells are costing 2,000 twigs each. But it's not just twigs ... one seashell now equals buckets and buckets of coconuts or many, many hut cleanings.
So basically money exists as a means of transferring the value of goods and services without having to barter. Once something more desirable and more scarce comes into play, that item takes more value until it either gets really expensive or there's a bubble.
But lucky you, after just a single year, one rainbow seashell costs a whopping 10,000 twigs. And in your forethought, you found a cache of a hundred seashells that you now keep safe in a wallet made of paper.

[kotajikikox]

How does Bitcoin have any value?

bitcoin is to expensive in the cprypto world in terms of value discussion, as first digital currency using the modern technology no want can control the bitcoin become high price value, now bitcoin treated of people more valuable than gold, one of the mean reason why bitcoin have huge value it because hard to mine and use expensive computer machine before the miner get some bitcoin.

[coinycoiny]

Bitcoin has value because people tend to sell it for more tomorrow then what they bought it for today.

There is no other reason.

[Realist247]

How does Bitcoin have any value?

It's mainly because what began as a currency has now turned into an "investment" and use as a currency is probably less than 1% of those involved.  People involved spend all of their time trying to get everyone they know as well as strangers to buy into it so those promoting it will gain from the new money inflows. (But don't you dare call it a Ponzi scheme since the truth tends to cause riots around here.)  It's a disaster waiting to happen...if I'm reading your question correctly as being rhetorical.  It needs to greatly come down in value if it is to become a day-to-day currency since the ridiculous price does nothing other than create obscene fees and transaction times.

[farhaan]

How does Bitcoin have any value?

Bitcoin's value is based on the trust which bitcoin community has on it.It has gained the trust of investors all over the world.More over,bitcoin is free from inflation as its total supply of coins is fixed as 21 million coins and it would remain unchanged unlike USD which is printed forever.Bitcoin has got its value earlier by delivering unique features to its investors.

[adiksau0414]

This is an interesting article i found,  i really don't know if this changes my mind about the value of bitcoin but this article has its own pook of view.  People will judge if bitcoin has value or no value.

"Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars. Rather, Bitcoin appears to have value for the following reasons: it is popular. In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin. It is recognized and accepted as a currency by many. Bitcoin is decentralized and limited. This is a major factor for many Bitcoin users. Bitcoin is hard for governments to trace and tax. Also, unlike fiat money produced by central banks, there is a cap set on total Bitcoins, limiting how much the currency can devalue through inflation."

[ghost424]

The value of maybe determined by the number of users that is benefiting from it. It can also be determined by the number of supporters that bitcoin has and how is it helping the community. Bitcoin's value may also depend on the supply and demand of the cryptocurrency in need.

[Opquar]

Value is a man made concept. If someone wants to pay an amount for something, then it has value. Do not read too much into it.

[wiser]

How does Bitcoin have any value?

That is an excellent question, and one I have been asked in real life by friends, and it's not easy to answer. The short simple answer is that it has value because there are people willing to pay for it. People are willing to pay for it because they think it will have more value in the future.

But what is actually backing Bitcoin up?

I believe it's mostly the technology and the fact that many people are involved in it. With that said, there are other coins which have taken the block chain concept one or more steps further, improved on the technology. Some of those coins will eventually replace Bitcoin in my opinion. But for the time being, and probably the next few years, Bitcoin has the first mover advantage, and it's the only cryptocoin most people know about at this point.

Another thing adding value to Bitcoin is the infrastructure that has developed around it. There are more and more services out there which take Bitcoin in payments or even exist because of Bitcoin, such as Coinbase, BitTrex, Poloniex and numerous other exchanges.

With all that said, there are still aspects of Bitcoin that are backed up by the current interest of more people and speculators. Right now they want in, so the price goes up. But if their interests go elsewhere, then the price goes down. So for that reason, Bitcoin could also be a bit of a bubble, so you need to invest with caution. I would also recommend getting educated on the other cryptocoins and diversifying into some of them as well.

[Envrin]

How does Bitcoin have any value?

Bitcoin does not just have any significance, it's the main crypto currency. Bitcoins own more than 50% of the capitalization of all cryptology. And all the crypto-currencies bear the huge promise inherent in the code economically.

[BitBenefit]

It's a matter of supply and demand. People are starting to realize all the advantages that bitcoin brings and they buy it. Also miners pay a lot for energy and they are not gonna sell at a lower price ( meaning they wont sell at a loss)

[Caesar-Giulius]

Bitcoin value is determined by the buyers and sellers. Read about supply and demand and you will know in detail. In summary, the seller sell BTC at a price level and the buyer thinks it is worth the price and buy it.

[Valentina N]

Hello all! You know all are simple for example art. We can say that painter spend time and use soul for creating drawing picture and if I want get this picture  I will pay all I can to getting this but another person want it too. So its create supply and demand. Maybe not perfect example sorry)

[salterious]

How does Bitcoin have any value?

Honestly it doesn't have any inherent value as it is backed by nothing but nonetheless it has the value people are willing to give it and that is quite big right now. Goes to show how much the world doesn't trust governments and I am no different I dislike governments for the most part. Sure they provide us with resources based off taxes but still they are so slow at changing policies and doing anything the citizens want. If you are in a communist state you surely agree and if you are in a "democracy" I think you would also agree but this is no true democracy. It is handful of people deciding what to do for you which I think is complete crap. If you want change put EVERYTHING up to a vote, if not you will get bitcoin revolution. Eat it governments, eat it all god damn day

[McKane]

Now prime misters of countries are holding bitcoin and even kids are holding bitcoins for these future because they know that bitcoin will change there life. So what can we say more about bitcoin. Because bitcoin having not even value but it have marked the history because it is the most precious value.

[FasTroy]

Bitcoin value is determined by the buyers and sellers. Read about supply and demand and you will know in detail. In summary, the seller sell BTC at a price level and the buyer thinks it is worth the price and buy it.

Yeah this is the main thing that bitcoin will have the value, so for people who want to understand that, they should read about supply and demand like you said. Now the demand of bitcoin is too high so we see that bitcoin price increase too much.

[Anonymous Kid]

Utility, Speculation and Store of value.

[patapon49]

it has the value that people are willing to grant him

[wiser]

This excellent article does a great job of answering the original question posed on this thread. I learned a lot from reading it:

https://blog.chain.com/a-letter-to-jamie-dimon-de89d417cb80

[Om.monata]

in the world of bitcoin cryptocurrency does have a very good value, because bitcoin has now become a very useful and useful payment tool by utilizing the sophisticated technological sophistication.

[orka39]

What is value? Value of anything is coming from demand. If no demand so no value.
And now, as we know demand to bitcoin is quite high and it makes bitcoin has value. More demand so more valuable it is.

[haileysantos95]

The value of bitcoin comes from its supply,demand and how hard it is to mine, we all know that todays demand for bitcoin is high and there is a limited supply in the market.

[tanghere1]

Bitcoin has value because it is not printed by government or banks and have limited supply so there is nothing that can increase its supply and can't have inflation.

There is huge demand for bitcoin from around the world because it is accepted by thousands of merchants worldwide. Also to mine new bitcoin it requires lots of resources (electric + financial) so no any miners will be willing to sell it at lower price for loss.

This is a great simplification. I often wonder how does the bitcoin gain it's price and you just explained it to me. Kudos

[luigidosado]

Bitcoin's value depend on its users demand. The demand is being dictated by the number of buyers and sellers in the market. It depends on how many people is willing to pay for it because they think that it will increase its value as time goes by. In additional to that, are the companies around bitcoin that offers different services to its users.

[aanbudi]

Bitcoin has value because it is like a valuable item that can be traded. Surely with limited supply and how to get it that difficult, make Bitcoin more expensive. That's what makes Bitcoin worthwhile.

[nix_7878]

Bitcoin doesn't have a physical value like cash, but the demand gives a value to a bitcoin like mining, trading or buying bitcoin.

[cizatext]

Bitcoin value is drive mostly from it demands and supply, and when the is high market demand of bitcoin it value tends to increase just like every other commodity in the market e.g gold and real estate bitcoin value is subject to demands. When the demands are high the value increase, and again since bitcoin is decentralized and can not be printed by government or any body to avoid inflation the supply is limited and when ever the demands increase it must reflect on bitcoin value.