What gives Bitcoin its value?

[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 ...

[1715247581]

1715247581

[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.