GeckoTrader (OP)
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February 18, 2018, 09:33:42 AM |
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Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars.
Rather, Bitcoin appears to have value for the following reasons: It is popular.
In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin.
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talkbitcoin
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All I know is that I know nothing.
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February 18, 2018, 09:49:14 AM |
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Rather, Bitcoin appears to have value for the following reasons: It is popular.
that is just your opinion. anything has value for its utilities. Gold has value not because it is physical but because it has usages. same as anything else. bitcoin is a decentralized currency and that is its usage and what's giving it value. |
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R21
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February 18, 2018, 10:41:49 AM |
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Bitcoin is a decentralized cryptocurrency, it's a digital currency it has a value because it's release as a currency like other centralized fiat currency. it have a own usages like other products. gold is a physical commodity if you accept then it's have a value other then it's valueless commodity bitcoin also follow this rule accept and valuable.
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coindawan
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February 18, 2018, 10:49:48 AM |
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It depends on the environment.
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gabmen
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February 19, 2018, 02:07:33 PM |
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Rather, Bitcoin appears to have value for the following reasons: It is popular.
that is just your opinion. anything has value for its utilities. Gold has value not because it is physical but because it has usages. same as anything else. bitcoin is a decentralized currency and that is its usage and what's giving it value. Exactly. Call it speculative but in the future, btc price will go up because of ita transactional use. Its very similar to fiat form of money,where we seem to be making a simple thing like paper the most important asset we have. |
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jona
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February 19, 2018, 03:26:54 PM |
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People also accept bitcoin because of the technology behind it,although it is a know cryptocurrency used by so many companies but it volatility is also impressive.
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ethereumhunter
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February 19, 2018, 03:36:58 PM |
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right now, I think bitcoin have a value of the price which attracts many people to join into cryptocurrency world and they know bitcoin than the altcoin. with the grow of bitcoin now, many people trying to use bitcoin to pay something like they use the money to buy something and in the future, I am sure that bitcoin will grow more. bitcoin could be used as the new investment and this is the same with gold but the bitcoin price is too volatile and makes some people afraid to save more bitcoin.
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Caesar-Giulius
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Buy, sell and store real cryptocurrencies
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February 19, 2018, 03:39:42 PM |
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Bitcoin value come from the willing buyers and sellers who determine the price.
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Mohamme
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February 19, 2018, 03:51:34 PM |
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It's just your opinion, so what do you think gold is worth?
Bitcoin, like gold, has a safe-haven function, and the total amount of bitcoins is certain, and bitcoin is the representative of the blockchain.
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Rabblerah112
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February 19, 2018, 04:11:16 PM |
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The dollar has value because of the weight of the USA government is behind it. But all fiat currencies hyperinflate eventually, history shows that. So basically its built on faith.
Gold has intrinsic value because it can be used for other purposes and its rare.
Bitcoin has more potential value than both because it solves massive problems. Lower transaction fees, decentralization so very little inflation, it can be swapped instantly all over the world, its more secure than regular money, its somewhat anonymous, and yet transparent at the same time, it cuts out middlemen, etc etc etc. And because it was first, it is the most tested protocol.
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GeckoTrader (OP)
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February 20, 2018, 09:52:27 AM |
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It depends on the environment.
Can you elaborate what you mean that it depends on the environment? |
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GeckoTrader (OP)
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February 20, 2018, 10:37:27 AM |
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Bitcoin value come from the willing buyers and sellers who determine the price.
So you mean if the demand of bitcoin is high does that mean that the price also will go higher? |
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ManaMan
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February 20, 2018, 10:52:22 AM |
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Bitcoin value is determent by buy and sell orders people put. They agree on bitcoins value against national currencies. This is exactly the driving force. The more people want to buy and less want to sell price goes up and in reverse it goes down. We as people give it value but for bitcoin to be stable price has to be high to reach the supply and demand and for this we need major adoption. But now it simply have speculative value as there are not many places where you can use bitcoin and if you can use it somewhere they are going to convert it to USD or at least portion to fiat.
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eternalgloom
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February 20, 2018, 11:16:16 AM |
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I would argue that part of the value of Bitcoin lies in the fact that it can be used to transfer large amounts of money, with relatively low fees.
It's still a lot faster than traditional banking and I'm absolutely positive that there are many people who use Bitcoin just for that.
Also don't discount its utility as a payment method for online payments. It provides a great alternative for credit cards, which some people have no access to.
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Jessica2009
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February 20, 2018, 12:49:56 PM |
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Bitcoin has its own value since it is used as a medium of exchange and as a store value too. Bitcoin is difficult to define and understand as a whole if we look at Bitcoin it is simple and the value is used same as paper currency.It is also used to exchange goods and services. Bitcoin requires computing power and is controlled by a decentralized network and the money is transferred over the internet. If we understand the mechanism of cryptocurrency we will think it more secure.
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sasumo
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February 20, 2018, 12:51:49 PM |
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BTC as well as currency so. You can trade in the allowed countries. BTC can replace the currency in some future fields.
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krungpuge03
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February 20, 2018, 01:02:13 PM |
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I think bitcoin is very valuable because of this many people change their life they can earn money in easy way
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Jaemouns
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February 20, 2018, 01:07:15 PM |
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Bitcoin is a decentralized cryptocurrency, it's a digital currency it has a value because it's release as a currency like other centralized fiat currency. it have a own usages like other products. gold is a physical commodity if you accept then it's have a value other then it's valueless commodity bitcoin also follow this rule accept and valuable.
Yes this is decentralized cyptocurrency thats why until now the bitcoin will remained unbeatable on it's position.I can't denied to myself that we considered this one as a long time partner as our earnings. |
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megatrix
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February 20, 2018, 01:34:45 PM |
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right now, I think bitcoin have a value of the price which attracts many people to join into cryptocurrency world and they know bitcoin than the altcoin. with the grow of bitcoin now, many people trying to use bitcoin to pay something like they use the money to buy something and in the future, I am sure that bitcoin will grow more. bitcoin could be used as the new investment and this is the same with gold but the bitcoin price is too volatile and makes some people afraid to save more bitcoin.
Bitcoin is a digital currency where you can use it as a form of payment (only if a certain business allows it) but it can be converted into traditional currency that can be used to pay utilities and other expenses. Just like here in my country, it is legal and it is largely accepted if you use as a payment. |
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szpalata
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February 20, 2018, 02:01:16 PM |
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It's just your opinion, so what do you think gold is worth?
Bitcoin, like gold, has a safe-haven function, and the total amount of bitcoins is certain, and bitcoin is the representative of the blockchain.
Yes and these opinions are sampled and aggregated through how much we buy and invest in it on the market and these market dynamics whether demand or supply determines how we all value bitcoin at any moment in time and that is its true value. |
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