The value of Bitcoin

[mayuri27]

Bitcoin entered the arena claiming to be the next big thing in electronic cash.  It took a while, but it gained traction with more and more enthusiasts convinced that it would be just that.

Through an unpredictable market, it’s increase in price seemed to reflect that it was indeed on its way to becoming the Next Big Thing, but this same market volatility detracted from its initial aim of being a currency, albeit a virtual one.

Yes, fiat currencies do fluctuate, but definitely not to the degree that Bitcoin does.  Take last week.  In the span of one day, the price of a single Bitcoin grew from $14k to $18k.  Looking at the market today, it’s trading at just under $14k.  This volatility may make for excitement and mystery, but it doesn’t do well when Bitcoin is trying to establish itself as a viable alternative currency.  In addition, converting Bitcoin to dollars is a tedious, and sometimes expensive, process, which doesn’t help its cause either.

Perhaps Bitcoin can be defined as store of value, as in keeps its value without depreciating.  Fiat currency used in economically advanced and stable countries could be referred to as stores of value, if hyperinflation doesn’t occur.

Inflation, in the context of an increase the actual supply of available money, is a moot point for Bitcoin has it has a finite amount, which is 21 million, of coins available.  Bitcoin has the potential to be a powerful cash alternative, especially in countries with a high level of government and institutional corruption.  However, because it does not currently have all of the usual suspects required for it to be a currency, it has not yet been adopted as a preferred medium of exchange.  So, it’s a no for store of value then.

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[Kprawn]

The value of Bitcoin is the fact that it can be both a Store of Value and a currency at the same time. If merchants use

Payment processors, they would not even be bothered with the volatility. Traders on the other hand, just love the volatility,

because they profit the most when there are big dumps and strong peaks. The real Value is the different options/choices that

you can choose from. 

[LeGaulois]

Bitcoin entered the arena claiming to be the next big thing in electronic cash.  It took a while, but it gained traction with more and more enthusiasts convinced that it would be just that.

Through an unpredictable market, it’s increase in price seemed to reflect that it was indeed on its way to becoming the Next Big Thing, but this same market volatility detracted from its initial aim of being a currency, albeit a virtual one.

Yes, fiat currencies do fluctuate, but definitely not to the degree that Bitcoin does.  Take last week.  In the span of one day, the price of a single Bitcoin grew from $14k to $18k.  Looking at the market today, it’s trading at just under $14k.  This volatility may make for excitement and mystery, but it doesn’t do well when Bitcoin is trying to establish itself as a viable alternative currency.  In addition, converting Bitcoin to dollars is a tedious, and sometimes expensive, process, which doesn’t help its cause either.

Perhaps Bitcoin can be defined as store of value, as in keeps its value without depreciating.  Fiat currency used in economically advanced and stable countries could be referred to as stores of value, if hyperinflation doesn’t occur.

Inflation, in the context of an increase the actual supply of available money, is a moot point for Bitcoin has it has a finite amount, which is 21 million, of coins available.  Bitcoin has the potential to be a powerful cash alternative, especially in countries with a high level of government and institutional corruption.  However, because it does not currently have all of the usual suspects required for it to be a currency, it has not yet been adopted as a preferred medium of exchange.  So, it’s a no for store of value then.

source https://bitcoinearnmoney.com/the-value-of-bitcoin/

[minersday]

You are right on this, but you need to know that when bitcoin got released on 2009, no one took it seriously,
i mean, most people who had bitcoin during those times were using this one to send tips, or to send "memes"
in form of money, because bitcoin was an useless thing by those times.

Do you remember the pizza guy? He bought it with bitcoins because he earned them for free, he didn't knew that each bitcoin would be worth $19,500 by today.

Bitcoin entered the arena claiming to be the next big thing in electronic cash.  It took a while, but it gained traction with more and more enthusiasts convinced that it would be just that.

Bitcoin has increased, but not for the money, the whole community is increasing, not just the "value" in us dollars.

[CryptoTrump]

Bitcoin entered the arena claiming to be the next big thing in electronic cash.  It took a while, but it gained traction with more and more enthusiasts convinced that it would be just that.

Through an unpredictable market, it’s increase in price seemed to reflect that it was indeed on its way to becoming the Next Big Thing, but this same market volatility detracted from its initial aim of being a currency, albeit a virtual one.

Yes, fiat currencies do fluctuate, but definitely not to the degree that Bitcoin does.  Take last week.  In the span of one day, the price of a single Bitcoin grew from $14k to $18k.  Looking at the market today, it’s trading at just under $14k.  This volatility may make for excitement and mystery, but it doesn’t do well when Bitcoin is trying to establish itself as a viable alternative currency.  In addition, converting Bitcoin to dollars is a tedious, and sometimes expensive, process, which doesn’t help its cause either.

Perhaps Bitcoin can be defined as store of value, as in keeps its value without depreciating.  Fiat currency used in economically advanced and stable countries could be referred to as stores of value, if hyperinflation doesn’t occur.

Inflation, in the context of an increase the actual supply of available money, is a moot point for Bitcoin has it has a finite amount, which is 21 million, of coins available.  Bitcoin has the potential to be a powerful cash alternative, especially in countries with a high level of government and institutional corruption.  However, because it does not currently have all of the usual suspects required for it to be a currency, it has not yet been adopted as a preferred medium of exchange.  So, it’s a no for store of value then.

source https://bitcoinearnmoney.com/the-value-of-bitcoin/

OP - when you copied someone's article you should insert the link below for reference. thanks

[Snub]

I think that this article is more about cryptocurrencies at all, not only BTC.
BTC is the first cryptocurrency ever, but still it has a couple of disadvantages

[bill gator]

It sounds as though you're saying bitcoin cannot be a viable currency because it too regularly increases in price by too much. How do you think new currencies and markets find their value or cap? They have to go through the process of being the "new kid on the blockchain" and get their footing through adoption and usage. The price cannot be stabilized until the "consumer"/user base is stabilized; currently the user base and popularity for bitcoin are constantly growing so the price mimics this while occasionally checking support levels with a small price dip to make sure the floor won't fall out from under us.

Bitcoin is going to continue to be volatile until it has been accepted as a currency, not the other way around in my opinion. Although, the volatility will continue to be one-sided until it has been refuted as a currency and I do not see that happening within our lifetime.

-snip-
source https://bitcoinearnmoney.com/the-value-of-bitcoin/

Tangent - When you're literally copying and pasting an article it would be helpful to at least cite the article so another member doesn't have to track it down for us. Everyone who wants to respond to the thread would love to read through the article themselves, know where the information is coming from and be able to judge the source material without you being a middle-man. It is just a little distasteful in my opinion, but I won't give you too much hate for it. It makes me wonder, do you have any thoughts on the article yourself? If you're going to start a discussion it is generally helpful to have something to contribute to the conversation, or a stance on the topic.

[florentinoobet]

The amount of Bitcoin is the fact that it can be both a Store of Value and one currency at the same time. If merchants use ..
because their income is bigger when there are large dumps and strong tops. The True Value is the different options / options that depend on the increase and decrease of bitcoin

[Ismat Morshed]

Bitcoin is the leader of digital currency.now bitcoin is top position for price.it has great value.its always increasing.investors git benefited for its price value.

[shinjunobi09]

You are forgetting the fact in 2009 and 2010 no one really cares about bitcoin but looked where it is right now even though the price is not yet increasing but men people forget the packed that we hit 10,000 USD dollar this year we are getting to greedy about the value of bitcoin just because the price during the bitcoin hit 10,000 kept on increasing people are tending to get want more and getting disappointed just because bitcoins value does not yet reach 20,000 USD. Be contended men.

[sdipmlrp]

There is an important investment value in bitcoin, which is all agreed. In addition, bitcoin is an important link in block chain. No matter in terms of payment, service or efficiency, I think the community has not been excavated yet. If developed, the potential is huge.

[TradeCrypto]

The value of bitcoin is very high. As we all know in 2009 and 2010 the value of bitcoin is very less nobudy was investing in bitcoin , at the time we can remember that pizza guy who got more profit from bitcoin. So , totally the value of bitcoin is very high and people are getting more benefits or profit from bitcoin .

[aizadelacruz99]

Sometimes bitcoin is increasing and decreasing.

[rickyNmorty]

The value of bitcoin when it was created and established was like around just a dollar , but now it increases a lot for about a thousand of percentage. My friend introduced me this with a value of like a hundreds of dollar but now its kinda feel sorry for myself for not trusting it.

[louie69]

The value of bitcoin when it was created and established was like around just a dollar , but now it increases a lot for about a thousand of percentage. My friend introduced me this with a value of like a hundreds of dollar but now its kinda feel sorry for myself for not trusting it.

The current value of bitcoin has drastically increased enormously even reaching approximately more than 500 percent last year probably because of its popularity as many investors were already putting more investment  believing that there is much profit waiting for them. The more the investment, the more benefits is expected for them to earn.