Why Bitcoin valued so much when there is infinite supply of crypto ? (Sorta)

[otomakansotas]

I get that there is only  a finite (21 Million) supply of BTC.

But, The problem with cryptocurrencies generally
is that there's potentially an infinite amount in totality.
I mean even bitcoin is now forking and sort of spawning brother and sister coins like bitcoin cash.
What good is it if you can spawn a new one every day?"

So why should any Crypto (including BTC) be worth anything ?

[BTCforJoe]

I get that there is only  a finite (21 Million) supply of BTC.

But, The problem with cryptocurrencies generally
is that there's potentially an infinite amount in totality.
I mean even bitcoin is now forking and sort of spawning brother and sister coins like bitcoin cash.
What good is it if you can spawn a new one every day?"

So why should any Crypto (including BTC) be worth anything ?

This is such a complex question with such a simple answer...

I'll start by saying that just because the bitcoin blockchain forks doesn't mean that it's bitcoin. Bitcoin Cash and Bitcoin Core are the two major competing "Bitcoins", but as far as the mass majority of users are concerned, Bitcoin Core is still considered THE Bitcoin.

Regarding the alternative cryptocurrencies... Essentially this doesn't mean anything when compared to Bitcoin's finite supply. It's almost like how the prices or availability of silver, copper, bronze, steel, tungsten, etc rarely affect the price of gold. Yes, there is slight influence, but not enough to truly impact the longevity of the value of gold.

Coins that are newly "spawned" generally fall to the wayside. I would say that over 80% of newly launched altcoins are rendered ineffective within the first 100-day lifespan of the coin, and the remaining coins exponentially kill themselves off within the first year.

Bitcoin is like the "gold standard" of the crypto world. Other coins use blockchain technology to try to create a coin, but it will never be Bitcoin. It's as if you were to create a new fiat currency and say that your new currency is now worth the same as the US Dollar... No one will value your currency just because it's new. And chances are that your new currency will never reach the market cap that the dollar has reached. The same principal applies with newly created coins. Unless they're revolutionary and adopted by a mass following of users (such as the top 10 on coinmarketcap; hell even the top 20), these coins will always be worth very little compared to the big dogs.

The major cryptos will prevail while the shitcoins fall out of the cryptoeconomy. And Bitcoin will more than likely continue to remain the gold standard of crypto, which will allow it to not only retain its value, but continue to grow its value.

Hope this kind of answers your question.

[heringasem]

Almost all the altcoins and cryptos in general are purely based on speculation, fear, hype, and nothing more than that.
The price is "priced" by the people who invest in there, nothing more.
And no one cares about the supply when they invest, only on the price.

[coinycoiny]

So why should any Crypto (including BTC) be worth anything ?

You are correct. But you won't find many agreeing with you here. Because there are only a very small number of coins there are enough fans that they managed to raise the price. The coin obviously doesn't work, it takes far too long to transact, costs too much and consumes more power than several countries.

One day they will wake up and smell the coffee but they will loose all their money first.

[BrewMaster]

the answer is pretty simple!
the same reason why Gold is valued so much and it continues to rise but at the same time there are (figuratively) infinite number of sand grains on the planet!

it is the scarcity combined with usability.

[Cryptobuz]

Bitcoin valued so much because unlike all other coins that rely on blockchain technology to thrive.

Bitcoin standard overshadows all other currencies in the crypto world.

Bitcoin crypto economy strength remains a source of its value.

[terzy]

Bitcoin valued so much because it is decentralized and limited. I think those are two main factor of bitcoin value so it is recognized and accepted as a currency by many! People accept and trade in Bitcoin because other people accept and trade in Bitcoin!

[Ilegendph]

I get that there is only  a finite (21 Million) supply of BTC.

But, The problem with cryptocurrencies generally
is that there's potentially an infinite amount in totality.
I mean even bitcoin is now forking and sort of spawning brother and sister coins like bitcoin cash.
What good is it if you can spawn a new one every day?"

So why should any Crypto (including BTC) be worth anything ?

Every coins and tokens have services that are offered in the case of bitcoin, it is remittance, you can send large amount of money without the need to fill up many forms unlike in traditional model and I believe that it is the very reason why bitcoin goes up as times goes on. Yes, its true that there is infinite potential number of cryptos but bear in mind that different cryptos have different services offered and problems solved and I think that should be the reason to have its worth.