What gives Bitcoin its value?

[imadmirer]

Bitcoin can certainly be considered as a currency but now with heavy investments, it is also a serious asset that people own. It is an equivalent to property or gold for that matter. With more trading and investment in this digital currency, the value is only soaring higher and higher. No doubt, we may as well see a new high in its price this year.

But what gives this invisible Bitcoin its value? It is most sought after asset now with immense money being invested. Is it the nature of it being a currency or the nature of it being an investment? The most interesting thing is that most people are gradually shifting towards the use of this decentralized currency. It is true that the comparison with fiat currency draws its estimated value. But the large investments suggest that it is going to grow only bigger and bigger in size and stature.

As BTC is becoming more and more used, the markets take to a compulsion of accepting BTC as a form of currency in exchange of the good and services. It is indeed interesting to note how Bitcoin in spite of all criticism is only proving to be that of a great success.

[Wheelige]

Bitcoin gets its value from people, believing that it has value. As you said this value can appear in a number of ways. Some people view it as currency in which they can transact in every day life, this means that an increase in speed of transactions and low cost of transactions would likely increase its value for these people. Other people now see it as a store or wealth, as you said like a digital gold, and for these people having it be secure and accepted by enough people will give it value. I would go as far as to say that speculators can give it value by believing that it will make gains. The value of Bitcoin is cumulative of all the value ascribed by its holders.
With more places accepting Bitcoin and if the lightning network or segwit goes through we will likely see further value added to Bitcoin for all three above groups. One day we may realise Satoshi's vision.

[atrocityx]

Bitcoin can certainly be considered as a currency but now with heavy investments, it is also a serious asset that people own. It is an equivalent to property or gold for that matter. With more trading and investment in this digital currency, the value is only soaring higher and higher. No doubt, we may as well see a new high in its price this year.

But what gives this invisible Bitcoin its value? It is most sought after asset now with immense money being invested. Is it the nature of it being a currency or the nature of it being an investment? The most interesting thing is that most people are gradually shifting towards the use of this decentralized currency. It is true that the comparison with fiat currency draws its estimated value. But the large investments suggest that it is going to grow only bigger and bigger in size and stature.

As BTC is becoming more and more used, the markets take to a compulsion of accepting BTC as a form of currency in exchange of the good and services. It is indeed interesting to note how Bitcoin in spite of all criticism is only proving to be that of a great success.

I think the fact that its the primary liaison between cash and alt coins on its own give its a very high valuation and will continue brining up eth as well.... and with decentralized exchanges coming in with the threat of more legislation, this will drive it even higher (since the only way to legislate bitcoin is at the entry and exit points and people who already have bitcoin won't be interested in selling easily).... Id say its just a store of value and easily transferrable with 100% verifiable purchases its 2nd use case.. Gold for example is a commodity as well.. sure it has a use case that is more than a store of value, but its store of value price isn't based off of what it can do.. its just an established price of what people are willing to pay for it.. People will also argue that bitcoin as a store of value can't be spent anywhere.. and I tend to think this is mainly true.. just like you can't go into a store and buy things with gold bars. I agree that its price is mainly based off of what people are willing to pay for it and the sky really is the limit.. people tend to follow others in decisions.. so bitcoin will be more sought after the more expensive it becomes.... kind of ironic how that works....


https://draftin.com/documents/232367?token=aYIVoQXQ_GpNo6tZq0N9TBylYigqdEdV2S4cEOKJ_HQgSuPMMRm1Rs5HmiU5roPqw44mc5ouSuSuXL5_GSfojFY  heres an article I found with some very specific use cases for bitcoin other than the obvious two.

[loraalbert]

Honestly, investing bitcoin is like investing in gold, gems. However, the value of bitcoin is not limited. Because, the bitcoin value is expressed in usefulness and convenience with peer to peer settings and not through any intermediaries. So if many people use bitcoin or apply it to fields or projects then the value of bitcoin is almost infinite.

[camito]

Bitcoin gets its value from people, believing that it has value. As you said this value can appear in a number of ways. Some people view it as currency in which they can transact in every day life, this means that an increase in speed of transactions and low cost of transactions would likely increase its value for these people. Other people now see it as a store or wealth, as you said like a digital gold, and for these people having it be secure and accepted by enough people will give it value. I would go as far as to say that speculators can give it value by believing that it will make gains. The value of Bitcoin is cumulative of all the value ascribed by its holders.
With more places accepting Bitcoin and if the lightning network or segwit goes through we will likely see further value added to Bitcoin for all three above groups. One day we may realise Satoshi's vision.

Yes I agree with this. We people or what we call the market gives bitcoin its value. We believe that it has a value. We invest in bitcoin cause we believe that we can make profit from it. More people who believe that bitcoin's price will rise, more people to invest in it making it to have high/higher value/price. More people doubts bitcoin, less people invest in it, meaning less value for bitcoin. In short, our beliefs in bitcoins value makes its value. We make our bitcoin's value. It's value is up to us, whether we consider it as an asset or a currency, its value will always be up to us.

[Viellefox1025]

Bitcoin is not like cash or gold that is generally accepted by all. The value of it is the willingness of parties to accept it.

Please read this article for more detailed dicussion on it.
https://www.investopedia.com/ask/answers/100314/why-do-bitcoins-have-value.asp

[nightmanisrightman]

You all had good answers but I believe the real answer lies in the POW system and the miners. Through that we can achieve consensus and have an immutable distributed ledger which in turn makes Bitcoin a secure network. It is that security and energy of the system that give Bitcoin its price imo.

[amwer]

Cryptocurrency is a new revolutionary type of currency. Like any other currency or unit of account, they only have value because people think it has value. Some currencies are backed by gold or other precious metals; others are backed by nothing but hot air although have value because people think it has value and use it as a unit of exchange.

[levvv]

Bitcoin has a big value because the coin supply is very limited.
If the demands keep increasing, bitcoin price is even more increasing.

[linkybit]

Normally its supply and demand, if there is a good news like a big country regulate the bitcoin then this news will add the value to bitcoin as more people start investing in it and this brings more demand for bitcoin.

[akdperry]

I've struggled with this topic when trying to explain bitcoin to friends.  they literally will ask why it is worth money.  I often times struggle to come up with a good answer, however I know why it has value.  It's because we all believe it is worth something.  It is a way to circumvent the banks and not give all the wealth to the rich.  It gives us a way to have a ledger for all transactions that occur using bitcoin. but more than that it spurred a movement, it has opened up countless financial opportunities for new businesses and technologies.  

[zomgmike]

Bitcoin offers an efficient means of transferring money over the internet and is controlled by a decentralized network with a transparent set of rules, thus presenting an alternative to central bank controlled fiat money.  The dollar has intrinsic value because you need dollars to pay taxes in the United States. The government accepts no other currency. So if you're going to engage in any kind of commerce whatsoever, you need to use dollars. This creates real value for the currency. Gold has real value because it's shiny and can be used for jewelry. Other commodities get their value from industrial purposes.

Similar to the dollar having value for paying taxes or gold having value for jewelry, Bitcoin has real value for private transactions, evading government restrictions, and making secure online transactions.  Because it can do these things better than traditional currency or payment processors, it has inherent value.

[nawosecad68]

Many people who want to make a quick transaction and bitcoin can realize that expectation. That is the value of bitcoin, even many who invest despite the many risks that must be borne. The more bitcoin users, the more it makes the bitcoin of high value.

[h0lybyte]

Fiat currencies obtain their values by government's backup but bicoin is a considerably used digital currency, it fills the urge among people to do something creative with its use and every day a numerous number of people get inspired by reading about bitcoin's history, when more people are inspired, the demand gets increased and supply becomes limited, demand is the source of bitcoin value

[krishnapramod]

It is true that the comparison with fiat currency draws its estimated value.

As BTC is becoming more and more used, the markets take to a compulsion of accepting BTC as a form of currency in exchange of the good and services. It is indeed interesting to note how Bitcoin in spite of all criticism is only proving to be that of a great success.

Like gold, Bitcoin's supply is limited and durable, digital gold and like fiat, its divisible and portable, currency, it's the potential future of Bitcoin, but now realistically what gives it value is its price, more of speculation, people investing expecting its price to go up, so IMO it's entirely true that currently Bitcoin derives its value from the possibility to trade it for fiat, not a realistic value.

The real valuation/usefulness of Bitcoin is in its properties as money, store of value, medium of exchange, and unit of account.

[pentol86]

bitcoin can be used for transaction, without a bank, keep anonymous. also bitcoin can be used for investment, but with high risk. the choice is depends from user as bitcoin holder

[kiver]

best thing about bitcoin that it was here first as a crypto currency so no coin can replace that bitcoin value based on many things but i think the most important thing about bitcoin value is the world wide use, what i mean is the adoption is what's giving its value bitcoin is getting accepted from companies and big traders every day now last time i heard that KFC accepting bitcoin and even Microsoft getting back on the decision it make last month was great
the point is if you want a coin to gain a value try to make it do what is meant for 

[nikita_01]

There is not much you need for currency other then its total issuance is publicly known (i.e. limited edition) , and you can split it up easily. And, of course, it should itself not be an extra source of transaction costs, negating the whole premise. What’s important to note is this, nothing “gives” currency value.

“Backed” by gold or the treasury boils down to ensuring the limited edition part is held up for fiat currencies. Gold inherits scarcity (not value) from mining rates, treasury from laws, bitcoin from maths. Melting value did not “give” currency value, the ECB does not “give” the euro value. Limiting and advertising the (growth rate) of total issuance enables more valuable trades. In a sense, a gold coin, the US dollar, the bitcoin, and all other thinkable currencies are “backed” by additional intersubjective trading opportunities.

[boakyei]

The value of bitcoins depend on mining difficulties and miners behavior. The demand and supply of bitcoins is also a factor, and the regulators, bankers and governments posture toward bitcoins all determines the value of bitcoins.

[cynical]

Bitcoin gets its value firstly from what it offers and It offers many things,

* A means of storing a degree of wealth which is not readily traceable by banks.
This has many advantages a few I have outlined as follows.
if in a time of economic or financial crisis banks decide they cannot make your FIAT funds available to you what can we do,
we are powerless. As soon as we hand over our FIAT to banks we are at their mercy.
Another advantage is that because bitcoin and crypto are not traceable if we get into personal financial difficulty and have to declare our assets,
our digital assets cannot be traced so we dont have to declare them.

* A peer-to-peer payment system without the need of any bank.
we control our digital funds and do not need to TRUST banks with our funds.

Secondly Bitcoin gets its value from the people who can see the benefit of what I outlined above as well as its potential future value,
speculation I suppose we can call it. So the buying and selling of Bitcoin currency also adds to its value.
We speculate on many things in our lives so this is nothing negative.

[Kate Beckett]

Bitcoin is a decentralized crypto currency, it is not tied to the economy of any country. Its price is determined by the market principle - through supply and demand. Here are the factors that determine the value of Bitcoin: Bitcoin mining requires powerful and expensive installations, Over time, the Bitcoin mining process becomes more complicated. The miners spend even more money and resources to receive a reward for closing the block. Bitcoins are traded for real currency (fiat) and has exchange value.

[btcprospecter]

The long and short of what gives bitcoin value is the supply and demand. Like we saw in the tail end of last year bitcoin was all over the media and there was a surge in value as every one was wanting a part of the profits people were making, mainly early adopters.
I think more see bitcoin as an investment more so than a currency. We also have to see where companies accept bitcoin as a payment they are also seeing that as an investment and the payment they get for that product will increase in value too.  

[malia tring]

I think what gives bitcoin value or determine the price of a bitcoin is because a lot of the enthusiasts of bitcoin which is very like the kind of digital currency bitcoin,and that greatly affects the value of bitcoin is because at least the total supple of bitcoin in this world,or the total supple of bitcoin is limited.

[klebsiella]

In economics, if something is both scarce and useful, it must have a value. Same with Bitcoin, its is scarce because it has a limited supply and it is a utility of it can be used in number of ways like payments and for investments. When something is considered scarce and utility it becomes expensive, it will demand value and price. Bitcoin's price is determined by the market where it trades, based on supply and demand. The interaction between buyers and sellers determines the specific price. But the price changes often because of its volatility.

[Fire316]

       A driving factor that gives value to bitcoin are the people / community that always believe and reacting positively to the innovations tecthnology of bitcoin. The demand and supply that always the basis of price value to f bitcoin. The media which is bitcoin in either a positive or negative way can have influence on the public perceptions of bitcoin and can influence the price. The investors that can manipulate/inadvertently affect the price. And ofcourse bitcoin value also perceived regards for its benefits and usefulness.

[ElegantCy]

Bitcoin gets it's value from the fact that:  

1. It offers an efficient means of transferring money over the internet
2. It gains legitimacy, larger scale investors, and more adoption
3. It's value is largely driven by speculative interest.  
4. It has small circulating supply.

[Nkan25]

A store of value, transfer of wealth, anoniminty and its decentralized idea. The technology challenges commodities like minerals and is clearly superior to fiat.

[colmenajose]

The value of bitcoin is in its popularity, security, and the high increase in its value, which makes it highly attractive to any investor.

[Geoll29]

Bitcoin's value is that it's a currency and we can use it to buy things that we need. Even expensive things. At the same time we are earning from it and it's possible to make us wealthy in the future. We may have known bitcoin for a long time now but there are still lots of people who have no idea what bitcoin is. Imagine if they have known bitcoin now. This will be a huge income for everybody.

[amzadabir]

I llike bitcoin.Like gold, Bitcoin is also scarce: its supply is limited. There are currently just over 16.2m Bitcoin in circulation and the maximum that will ever exist is capped at 21 million. This set cap is well known, making its scarcity transparent.
However, to have value, Bitcoin must also be useful. Bitcoin creates utility in a number of ways.
Like gold, Bitcoin is perfectly fungible (one Bitcoin is similar to another), it is divisible (you can pay someone a small fraction of Bitcoin, should you want to) and easily verifiable (via the Blockchain).

[damrianto]

every change in the bitcoin is determined by the world financial market so any value of all results and the amount that occurs when the transaction is rated by the bitcoin itself. and this is all enjoyed by us all. why the value is due to the comparison.

[MainIbem]

The reason for bitcoin value is mixed.

1. Value as a result of Blockchain Technology. The importance of the blockchain is the big reason for bitcoin value. Bitcoin being the vehicle upon which the technology is driven.

2. Speculative use. Because of the limited volume of bitcoin and the rising acceptance of the blockchain, it has created a whole lot of speculation. Due to the speculative activities, there is rush to be a part of the bounty so the price goes up.

 

[Sakibhasan.bd]

This is an importent subjest.
I don't know the excet reason that what gives Bitcoin value. But i think there include many reason to value of bitcoin. those are....
1: Mining
2: Tradeung
3: Investment etc.

[Doge dealer]

demand and supply is what drives the value of any item , demand is driven by the advantages that bitcoins posses, so simply put to answer that question just look at the advantages that it brings to the table.

[aleksnutis]

Bitcoin can certainly be considered as a currency but now with heavy investments, it is also a serious asset that people own. It is an equivalent to property or gold for that matter. With more trading and investment in this digital currency, the value is only soaring higher and higher. No doubt, we may as well see a new high in its price this year.

But what gives this invisible Bitcoin its value? It is most sought after asset now with immense money being invested. Is it the nature of it being a currency or the nature of it being an investment? The most interesting thing is that most people are gradually shifting towards the use of this decentralized currency. It is true that the comparison with fiat currency draws its estimated value. But the large investments suggest that it is going to grow only bigger and bigger in size and stature.

As BTC is becoming more and more used, the markets take to a compulsion of accepting BTC as a form of currency in exchange of the good and services. It is indeed interesting to note how Bitcoin in spite of all criticism is only proving to be that of a great success.

Bitcoin is growing due to the influx of new customers.
The value of bitcoin is determined by its use for the purchase of altcoyins. 95% of altcoyins are bought through bitcoin.

[TimofeiHabarov2807]

That is, mining is the solution of certain logical tasks using a computer and finding some absolutely unique information that has a certain value.

[tylerderden]

Bitcoin can certainly be considered as a currency but now with heavy investments, it is also a serious asset that people own. It is an equivalent to property or gold for that matter. With more trading and investment in this digital currency, the value is only soaring higher and higher. No doubt, we may as well see a new high in its price this year.

But what gives this invisible Bitcoin its value? It is most sought after asset now with immense money being invested. Is it the nature of it being a currency or the nature of it being an investment? The most interesting thing is that most people are gradually shifting towards the use of this decentralized currency. It is true that the comparison with fiat currency draws its estimated value. But the large investments suggest that it is going to grow only bigger and bigger in size and stature.

As BTC is becoming more and more used, the markets take to a compulsion of accepting BTC as a form of currency in exchange of the good and services. It is indeed interesting to note how Bitcoin in spite of all criticism is only proving to be that of a great success.

Bitcoin's value is due to its rarity, there are only 21 million coins to be made forever and about 17 million clubs are already out in the market and whatever remains will be mined by 2140,so it's obvious that the price is gonna rise forever and this is a very smart approach to control inflation also.
Also that the decentralized nature of bitcoin is a major plus point for its value and that too the bitcoin wallet can't be hacked like the bank accounts. So that's obvious to the people where to put their money, in banks where there are chances of a hack or in bitcoin where their money is safe for eternity.

[Zapto25]

bitcoin is acceptable and many people like it means bitcoin has value. if bitcoin is not liked by people then bitcoin has no value. gold has value because many people love it.
if we compare with the different gold value with bitcoin, the gold of asset investment, but bitcoin is also very worth for investment assets

[ambisyon]

Bitcoin had achieve it's value through the people within bitcoin where it had achieve a high level of widespread adoption. It had offered to the people one of the most efficient way of money transfer using the internet as a tool medium of transaction and also, bitcoin is controlled by a decentralized network with a corresponding rules. Last but not the least, bitcoin's price value is actually driven by people's speculation thus creating impact that result to increase in the price.

[fuer44]

some people call the easyness of bitcoin transactions to be a very valuable value and make some people like it and make demands on the bitcoin increases. in the law of pricing on the market, supply and demands are the most important factor. I also really like this new technology, where all transactions are recorded in the blockchain ledger. there are many more benefits of bitcoin which makes itself worthwhile.

[cllo78]

I think the greatest value of Bitcoin is that I can obtain wealth from it. If Bitcoin cannot bring profits to people, then I believe that many people will not pay attention to it. As for its own value, I think it is still special at least for now. obvious.

[Ariem]

I think people can start to trust in to bitcoin only after they will understand the technology, only after you realize that it is reliable technology you will invest money in it, if more and more people will realize that bitcoin is reliable in the same proportion will grove number of user and investors, and with that bitcoins value will grove, so my opinion is that the value of bitcoin depends from how many people understand how it works.

[saiful1234]

The greastes value of bitcoin.it's supply is limited.There are many more benefits of bitcoin which makes it self worthwhile.

[Aragorn_125]

First of all, bitcoin is a very popular currency. The purpose of banks is to attract customers. For banks, a good bitcoin. I think the currency will become common

[EmJay]

Bitcoin has a big value because the coin supply is very limited.
If the demands keep increasing, bitcoin price is even more increasing.

I agree ,bitcoin has its value because of the limited supply of bitcoin yet the demand of the people are higher. It is the continued support of the people that makes bitcoin grow. For as long as there is me and all of you are supporting bitcoin. The value if it will become higher.

[feny.blackpink]

bitcoin value comes from the demands that accumulated since it was created on 2009.
Because the high demands of bitcoin, the value has increased high too.

[hakertajniak]

i think the most important about bitcoin value is its supply.
bitcoin has very limited supply coin, 21 mil only in the world. if bitcoin demands keep increasing,
the value of bitcoin will increased because the supply cannot increased.

[Thanasis]

i think the most important about bitcoin value is its supply.
bitcoin has very limited supply coin, 21 mil only in the world. if bitcoin demands keep increasing,
the value of bitcoin will increased because the supply cannot increased.

You are right that is the reason why the bitcoin price is expensive but this demand was not achieved instantly it takes few years to build up the trust on the people then only bitcoin was become mightier than mightier in 2017,but now the price is not steady but it is still the expensive crypto and it will be the king forever.

[galkind]

I think the greatest value of Bitcoin is that I can obtain wealth from it. If Bitcoin cannot bring profits to people, then I believe that many people will not pay attention to it. As for its own value, I think it is still special at least for now. obvious.

The current value of bitcoins is based on the opinion of people who are invested with it. They think that the price of bitcoins will increase and this creates more demand.

[BitcoinPanther]

I think it is the people's demand and belief that gives Bitcoin its value.  It depends on how the trader plays the market and how the whales wanted the price is.  As of now, due to the unequal distribution of bitcoin, those who have lots of it in their hand have the power to either bring the price down or bring it up.  So aside from the market demand, it is also dependent on the whales likings.

[surbanaB]

bitcoin is acceptable and many people like it means bitcoin has value. if bitcoin is not liked by people then bitcoin has no value. gold has value because many people love it.
if we compare with the different gold value with bitcoin, the gold of asset investment, but bitcoin is also very worth for investment assets

As far as we know that bitcoin is anonymous , without the control of bank or government. Bitcoin help us in many ways, it gives all of us have the same opportunity to get benefit to do a better life . Moreover, it’s really a convenient way to do with, even it can solve the unemployment problem , some can take it as an extra job or a temporary job. The demand for using bitcoin is getting more and more popular , which makes bitcoin get a higher value. What more, bitcoin is a common transaction which is interactive all the people around the wolrd with each other.

[phelbaby]

Bitcoin has value when it is been converted to a local currency which is spendable to every but when still as Cryptocurrency the value is silent 

[Aragorn_125]

To begin with, bitcoin is the most popular crypto currency! There are demand for bitcoins. This gives a market relationship. I'm wondering why many people know about bitcoins but have not heard about Satoshi

[Yakapo]

 BTC being a pioneer crypto is the first of its kind and was adopted by quite a few people in the early stages, as time went by people realized its value, convenience and use, attracting more users and investors to it, this has increased its value as there is high demand for it but low supply available.

[zhekinsp]

Bitcoin can certainly be considered as a currency but now with heavy investments, it is also a serious asset that people own. It is an equivalent to property or gold for that matter. With more trading and investment in this digital currency, the value is only soaring higher and higher. No doubt, we may as well see a new high in its price this year.

But what gives this invisible Bitcoin its value? It is most sought after asset now with immense money being invested. Is it the nature of it being a currency or the nature of it being an investment? The most interesting thing is that most people are gradually shifting towards the use of this decentralized currency. It is true that the comparison with fiat currency draws its estimated value. But the large investments suggest that it is going to grow only bigger and bigger in size and stature.

As BTC is becoming more and more used, the markets take to a compulsion of accepting BTC as a form of currency in exchange of the good and services. It is indeed interesting to note how Bitcoin in spite of all criticism is only proving to be that of a great success.

Whatever maybe the reason for people buying the bitcoin but as long as people buying the bitcoin the price will increase because everything in the world got value due to its supply and demand.

[gamechangers]

The value of bitcoin is driven by the people using it. Bitcoin is a foremost cryptocurrency and to so many people, it is the only cryptocurrency they know. This has translated into a large community of enthusiasts who hold the coin jealously. They give it value by holding it, believing that the value will continue to soar.

[Mandoy]

What gives bitcoin its value is the trust and support of people. But on the other side the majority engage on bitcoin not as a currency but as an investment with a hope of getting huge profit. But what reason there is we cannot deny that those reasons have strengthened bitcoin and caused bitcoin to be where it is now. The true value of bitcoin comes from the people, without us bitcoin will be useless.

[pawanjain]

Bitcoin is the first crypto currency in the market so we can say that it is the oldest of all crypto currencies. It is the people who keeps on investing in BTC and that sets the price of Bitcoin. It is the trust over Bitcoin that has kept Bitcoin going till now. Also, there are many factors that derive the price of BTC such as news and events in the crypto market. Bitcoin being a voaltile currency reacts very quickly to news most of which are FUDs created by panic sellers and whales.

[nowlscor18]

Honestly, investing bitcoin is like investing in gold, gems. However, the value of bitcoin is not limited. Because, the bitcoin value is expressed in usefulness and convenience with peer to peer settings and not through any intermediaries. So if many people use bitcoin or apply it to fields or projects then the value of bitcoin is almost infinite.

For me bitcoin can give its value buy converting into fiat to give people who want to grow and to help their love once.Were lucky one to have here so give thanks to bitcoin amd the cryptocurrency.

[Verona25]

For almost the entire past century, money produced in the world was provided with gold. However, in 1971, US President Richard Nixon abolished the gold standard, thereby making the dollar an ordinary printed paper.

[untidyaudi4]

People like gamblers are more attracted to it I think after the title GAMBLING CURRENCY

[lazaretcookery3k]

I would admit that inspite of having large risk factor btc is actually awsome as investment stock. with high returns

[hygroscopicgymnasium3]

Bitcoin market is like sea waves, unpredictable and unleashing, its a thrill, well for me atleast

[thongsbe]

Don't know as I am just a newbie and know not much about the economy well and sound

[daddypastes]

It is true that the comparison with fiat currency draws its estimated value, the markets take to a compulsion of accepting bitcoin as a form of currency in exchange of the good and services. It is indeed interesting to note how bitcoin in spite of all criticism is only proving to be that of a great success...bitcoin's supply is limited and durable, digital gold and like fiat, its divisible and portable, currency, it's the potential future of bitcoin but now realistically what gives it value is its price, more of speculation, people investing expecting its price to go up, it's entirely true that currently bitcoin its value from the possibility to trade it for fiat not a realistic value.its usefulness of Bitcoin is in its properties as money, store of value, medium of exchange, and unit of account...

[Mantisa83]

Gold will always be a generally accepted means of storing value at least until bitcoin or better to say, "cryptocurrency" gains the trust of at least 70% of the general public before it can be closely compared to GOLD.

[brooklynian]

The value of bitcoin is driven by the day to day use by the holders.  Bitcoin is a foremost cryptocurrency and for this reason it has reached a lot of people. This has translated into a large community of enthusiasts who hold the coin jealously. Mainly, bitcoin adds more value when held for long.

[BitcoinGuruOne]

I believe that the answer is very clear - BTC is just a tech adn without any demand there wont be any price.
Demand drives he price,plain and simple.

[HopeHK]

Bitcoin is based on the same thing as the US Dollar... nothing except the trust of the people who use it.  Not necessarily a bad thing.

[lisasteca]

The btc differs from fiat currencies because there is no authority to fix its value. This depends only on the market and on investor confidence. This is the potential (and risk) of the btc.

[sammyp]

Perhaps bitcoin gets its value from its users and investors. There is always someone ready to buy or sell bitcoin irrespective of its price. I think that is what gives bitcoin its value, a group of consumers.

[Shenzou]

Bitcoin can certainly be considered as a currency but now with heavy investments, it is also a serious asset that people own. It is an equivalent to property or gold for that matter. With more trading and investment in this digital currency, the value is only soaring higher and higher. No doubt, we may as well see a new high in its price this year.

But what gives this invisible Bitcoin its value? It is most sought after asset now with immense money being invested. Is it the nature of it being a currency or the nature of it being an investment? The most interesting thing is that most people are gradually shifting towards the use of this decentralized currency. It is true that the comparison with fiat currency draws its estimated value. But the large investments suggest that it is going to grow only bigger and bigger in size and stature.

As BTC is becoming more and more used, the markets take to a compulsion of accepting BTC as a form of currency in exchange of the good and services. It is indeed interesting to note how Bitcoin in spite of all criticism is only proving to be that of a great success.

Bitcoin at its time of creation was just an idea, like nay other ICO project that we see today, and as this idea grew and people started supporting it and investing resources into it, i grew even bigger and its initial price started going up, and due to how it has a limited supply that price started going even more, so the supply and demand is what actually gives it its value.

[levvv]

bitcoin has value because it is the cryptocurrency that many peoples used from 2009, the first crypto.
many peoples already believe in bitcoin, and already gain much earnings with bitcoin.

[Idup]

Bitcoin can be considered a currency but now with a big investment, it's also a serious asset that people have. Because many people use bitcoin or apply it to a field or project, the bitcoin value is almost unlimited.

[GoldenLad]

In my own opinion,  I think what gives bitcoin is value,  is the desire people display to own it.  The more people buy and invest in it, the more it values grow.  And also, the more people use it as a payment method,  which is the purpose of what it was created for, the more it values grows too. And I believe this is what we need now for a successful growth of bitcoin.

[Fretcy]

Bitcoins prices keeps on shooting due to base factor of supply and demand , the price of any product is determined by the economic factors of demand and supply.  As there is only a limited number of 21 million bitcoins available in the crypto market, the demand for bitcoins keeps on increasing due to various other factors such as ease of transactions worldwide without boundaries with low transaction charges compared to traditional currencies. The use of bitcoins as an investment and trading makes the increase in demand for bitcoins which ultimately causes for the rise in price of bitcoins.

[Ines1986]

Bitcoin's price is determined by the market where it trades, based on supply and demand. The interaction between buyers and sellers determines the specific price.Bitcoin is a decentralized crypto currency, it is not tied to the economy of any country.

[makolz26]

Bitcoin's price is determined by the market where it trades, based on supply and demand. The interaction between buyers and sellers determines the specific price.Bitcoin is a decentralized crypto currency, it is not tied to the economy of any country.

That is right, so anything that each of  us are doing really affects the value of bitcoin, so we have to be extra careful with it we don't need to withdraw all bitcoin we have to at least hold some of it so that we can still promote and maintain the value of it.

[bright4mech]

what actually gives Bitcoin values, is the good news of people spread around the world and at that point in time many investors and new trader came into, to invest on bitcoin and at that moment is simply known as the demand is higher than supply in which the prize will be automatically increase, which has create a high potential towards the values of bitcoin.

[Xardasim]

Can you tell me what is the backup of currently used USD? On the BRETTON_WOODS the governments accepted decision together in order to peg USD to gold ounce. Bitcoin is backed up by trust of the people and nothing can replace it maybe in future governments will wanna to shake the hand of Bitcoin developers.

[Titanos]

People using Bitcoin are giving Bitcoin its value. It will become worthless if no one buy it or use it anymore.

[Ravenangel]

Bitcoin has proven to be a good coin over a period of time Recovering from challanges and banns to recover its value, its best asset however is the fact that ithas a number of uses in the market,, You cn use it to buy other alts, or pay for services rendered,Outside crypto currency, BTC is being used a s a form of pay to get goods and services such as books sold in online store. Other Businesses are also starting to accept BTC as a form of pay, hence its value

[Chopmoney]

I believe since bitcoin has a limited supply and since demand for bitcoin is increasing there will be rise in value

[Doge dealer]

value is attained because of the usefulness and hence the demand of the item. bitcoin has a lot of features that increases its demand . Volatility- price is unstable and can increase or decrease in a minute, its decentralized meaning you can do transactions without having to go through any financial institution . These are just a few of the features that add to the demand and hence the value of bitcoins.

[Dudeperfect]

It is true that there is nothing tangible to back the value of Bitcoin but I think we are living in the era of information technology where data is a new currency. (Think about Facebook is free and always will be slogan and Cambridge Analytica case). It's the information that my wallet contains 1 Bitcoin and we collectively trust that it is valued at a certain amount of money. It has some clever code which makes it different than traditional payment system and that's what makes it trustworthy and valuable.

[robertsu]

I think that all of the limited number of coins issued! This plays a significant role in the value of bitcoin!

[dodz031718]

It has a value because we all believe it is worth something.It has opened up countless financial opportunities for new businesses and technologies.The buying and selling of Bitcoin currency also adds to its value.

[sergio-faucetbitcoin]

Bitcoin has value because people are giving it value. But also the limited quantity, the miners and the proof of work system are making the price. And the fact that you have to buy mainly BTC to buy other coins for the moment.

[baho11]

Bitcoin has value because of people earned money , benifited its prices and especially gives an opportunity to those people who do not have their own work . .

[Keyboard PC]

Bitcoin can certainly be considered as a currency but now with heavy investments, it is also a serious asset that people own. It is an equivalent to property or gold for that matter. With more trading and investment in this digital currency, the value is only soaring higher and higher. No doubt, we may as well see a new high in its price this year.

But what gives this invisible Bitcoin its value? It is most sought after asset now with immense money being invested. Is it the nature of it being a currency or the nature of it being an investment? The most interesting thing is that most people are gradually shifting towards the use of this decentralized currency. It is true that the comparison with fiat currency draws its estimated value. But the large investments suggest that it is going to grow only bigger and bigger in size and stature.

As BTC is becoming more and more used, the markets take to a compulsion of accepting BTC as a form of currency in exchange of the good and services. It is indeed interesting to note how Bitcoin in spite of all criticism is only proving to be that of a great success.

in my opinion there are many factors that affect the condition of bitcoin prices one of them is from the increase in difficulty to meminig more difficult and the less bitcoin obtained then bitcoin will be more expensive the price not only that the higher the use bitcoin as a means of payment it will be more expensive also because bitcoin is depleting its availability.

[boynamnhi]

It is fast, easy, convenient, safe and economical when using Bitcoin as cash to help Bitcoin have high value. When the market is large, Bitcoin is widely used and when it is a commodity it is of higher value. Its value always increases over time.

[Fairy_90]

It is hard to say that the nature of Bitcoin is valid because not government accepts Bitcoin as well as you can not use it to pay your taxes. In addition, the value of Bitcoin is always associated with traditional currencies such as USD, EUR, CNY and VND. In addition, the intrinsic value of a stock is calculated by its estimated future earnings, since Bitcoin has no income so it is difficult to determine the value.
So, what will give Bitcoin become valuable not really an internal one? There will be no reason to give Bitcoin value if one can not use it as a payment method. Merchants and service providers around the world accept digital money, although most people use it by converting the currency of the country in which they live.

[boynamnhi]

I believe since bitcoin has a limited supply and since demand for bitcoin is increasing there will be rise in value

I agree but worth mentioning when using its great practicality, people have the need to use it so much.

[otong]

I think that all of the limited number of coins issued! This plays a significant role in the value of bitcoin!

although the number is limited and only created about 21 million alone but it will never run out. because the fee of each transaction will be returned to the source, then the source will generate a new number that will be captured by the miners.bitcoin is certainly very valuable in the digital world but if in the real world bitcoin is not valuable.

[pabpete]

I believe since bitcoin has a limited supply and since demand for bitcoin is increasing there will be rise in value

I agree but worth mentioning when using its great practicality, people have the need to use it so much.

Bitcoin derives its unique value from the fact that despite its lack of official backing or wide acceptance, it has generated an ecosystem in which many people are willing to trade and accept it.

[OlegK41]

Bitcoin gives value, then he is not regulated and not controlled. Still it is convenient and fast payments in comparison with banks. And of course Bitcoin is a great way to invest!

[Lebovsky]

Unfortunately, bitcoin is not yet a full-fledged currency, which you can perform daily operations, such as Fiat. At the moment, bitcoin is an asset with which you can make good money. And it works on the principle of gold. Its limited number causes its constant growth. Let's hope that the status of bitcoin will grow in the near future, but it is unlikely to happen so soon.

[Al-e_x]

Normally its supply and demand, if there is a good news like a big country regulate the bitcoin then this news will add the value to bitcoin as more people start investing in it and this brings more demand for bitcoin.

I agree with you, and one of the factors that make high demand, is the bad condition of the world economy, as happened in south korea and in china, many companies are going to fall, so investors are looking for other assets to save their investment. and their choice is bitcoin.

[DaveWave]

It is common and general rule that when demand went up then its price will grow. This is not something new as even fiats also work like this. So when bitcoin becomes mainstream in 2020 then surely 1 bitcoin will be worth $1 million or even more.

[daarul50]

It is hard to say that the nature of Bitcoin is valid because not government accepts Bitcoin as well as you can not use it to pay your taxes. In addition, the value of Bitcoin is always associated with traditional currencies such as USD, EUR, CNY and VND. In addition, the intrinsic value of a stock is calculated by its estimated future earnings, since Bitcoin has no income so it is difficult to determine the value.
So, what will give Bitcoin become valuable not really an internal one? There will be no reason to give Bitcoin value if one can not use it as a payment method. Merchants and service providers around the world accept digital money, although most people use it by converting the currency of the country in which they live.

If bitcoin is not associated with USD, EUR, and CNY currency how can we measure or know that bitcoin has value? So is the case with gold, diamonds, oil, and other assets. Those assets must be measured in USD currency so we know the price movements of those assets in the market.

[CryptoProphet]

What gives Bitcoin its value? Only the fact that people consider it valuable, conduct exchange operations with it, something pay, and the fact that it is limited ...

[fotosonics]

I think that bitcoin got its value thanks to the fact that the ancestor of crypto currency in general! This is the first coin that received such information! It is also necessary to take into account the fact that only 21.000.000 coins have been issued, which gives each coin more value!

[lillyann]

Bitcoin can certainly be considered as a currency but now with heavy investments, it is also a serious asset that people own. It is an equivalent to property or gold for that matter. With more trading and investment in this digital currency, the value is only soaring higher and higher. No doubt, we may as well see a new high in its price this year.

But what gives this invisible Bitcoin its value? It is most sought after asset now with immense money being invested. Is it the nature of it being a currency or the nature of it being an investment? The most interesting thing is that most people are gradually shifting towards the use of this decentralized currency. It is true that the comparison with fiat currency draws its estimated value. But the large investments suggest that it is going to grow only bigger and bigger in size and stature.

As BTC is becoming more and more used, the markets take to a compulsion of accepting BTC as a form of currency in exchange of the good and services. It is indeed interesting to note how Bitcoin in spite of all criticism is only proving to be that of a great success.

The general answer to the question "where does the price of bitcoin come from?" Are the basic laws governing the market: supply and demand. Determining the price of bitcoin occurs at the interface between the demand and the supply of sellers. Adapting this model to Bitcoin, it is obvious that most of the supply is controlled by early users who once bought more bitcoins and miners. Currently, many people claim that bitcoin is currently a speculative bubble. But to know if it really is, we need to know the factors shaping the price of this cryptocurrency.

[Olga1111]

Bitcoin has a large value, because the supply of coins is very limited.
If demand grows, the price of bitcoin increases even more.Like gold, Bitcoin's supply is limited and durable,the usefulness of bitcoin lies in Its properties like money, values, means of exchange and units of account.

[muyizz]

bitcoins derive their value just as anything else does: because people want them. Like any other currency, bitcoin follows the basic rules of supply and demand.

[dyablo]

bitcoin can be used for transaction, without a bank, keep anonymous. also bitcoin can be used for investment, but with high risk. the choice is depends from user as bitcoin holder

Bitcoin price is so volatile, and I think that is one factor that gives bitcoin its value.
It depends on the supply and demand. If the demand is higher than the supply, the price is high also. And if the supply is higher than demand, the price gets low.

[gohan21]

Bitcoin gives people the value because they are investors and users here so bitcoin costs.

[sdshd]

The source of Bitcoin's value is the loyalty of many bitcoin who are willing to let Bitcoin represent their wealth. As the number of deadly loyal groups increases, the individuals in the group become more and more diversified, forming an ecological cycle and growth. Even if the group no longer expands, Bitcoin will not die (zero) easily. Unless the group shrinks and dies.

[hsnjtdj]

The price of Bitcoin is positively related to the number of people who receive and use Bitcoin. As more and more people are willing to make Bitcoin represent the value produced by him, Bitcoin will also become more expensive than the legal currency. Bitcoin’s influence is now in an expansion phase, and more and more people are willing to convert their created wealth into bitcoin, and at the same time cancel the legal representation of these wealth, so Bitcoin prices have been rising steadily during this expansion phase. In the early stage, Bitcoin function was mainly focused on the value reserve and value transfer.

[devinks]

bitcoin can be used for transaction, without a bank, keep anonymous. also bitcoin can be used for investment, but with high risk. the choice is depends from user as bitcoin holder

Bitcoin price is so volatile, and I think that is one factor that gives bitcoin its value.
It depends on the supply and demand. If the demand is higher than the supply, the price is high also. And if the supply is higher than demand, the price gets low.

indeed bitcoin fluctuate. every time the offer changes depending on the market. the price itself is never stable. but now this bitcoin value comes from the demand of people so there will be an increasingly increasing sale and purchase

[LCHY]

What gives Bitcoin its value?

I think the people who believe Bitcoin gave value to it. Just like art pieces, it will be valuable according how much people believe in it.

[monster2]

Bitcoin gives value to people who value bitcoin even though they are low in price because they rely on it.

[Swanh]

Bitcoin can certainly be considered as a currency but now with heavy investments, it is also a serious asset that people own. It is an equivalent to property or gold for that matter. With more trading and investment in this digital currency, the value is only soaring higher and higher. No doubt, we may as well see a new high in its price this year.

But what gives this invisible Bitcoin its value? It is most sought after asset now with immense money being invested. Is it the nature of it being a currency or the nature of it being an investment? The most interesting thing is that most people are gradually shifting towards the use of this decentralized currency. It is true that the comparison with fiat currency draws its estimated value. But the large investments suggest that it is going to grow only bigger and bigger in size and stature.

As BTC is becoming more and more used, the markets take to a compulsion of accepting BTC as a form of currency in exchange of the good and services. It is indeed interesting to note how Bitcoin in spite of all criticism is only proving to be that of a great success.

I can compare bitcoin to a fish,it has value because its what we need,if there were typhoons fish supply is limited fish would be very expensive if there were alot of fish catched most probably it become cheap and its affordable to buy.Bitcoin depends on the increasing and decreasing demand in the market,if people lose interest in bitcoin,it will be priceless and bitcoin will die.

[selezneve]

What gives Bitcoin its value?

I think the people who believe Bitcoin gave value to it. Just like art pieces, it will be valuable according how much people believe in it.

People believe and used bitcoins only because it has got some unique advantages. For instance, let us compare the fees in case of bitcoin and PayPal. Bitcoins have less transaction fees as compared to other payment systems like card payments and PayPal. This is another reason behind the increasing acceptance and popularity of Bitcoins.

I heard that PayPal is going to increase its fees even more which will push the prices of bitcoins even higher.