What gives Bitcoin its value?

[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.