|
@prashant
|
 |
February 23, 2018, 08:05:17 AM |
|
how do you think gold is valued more than other asset,it is just simple -perception and scarcity.nobody knows how an asset gain its value,it is just perception that a commodity is used to trade item between two or more entity.government design fiat currency and make it is value from null to some value ,it is just acceptance of community to accept an asset as a means of payment,bitcoin is first of its kind so community accepted it and rest whales do manipulation to manipulate it.
|
|
|
|
|
|
Bitcotalk
|
|
February 23, 2018, 12:52:27 PM |
|
I don’t think the value of Bitcoin comes from being popular. Yes it is popular, but that’s not what makes it valued. The only thing that matters, which is the thing that gives it its value is how much money that is being invested in it by the people. Being just popular makes no sense.
Well, the popularity makes sense in its own way, cause if nobody knows it, no one will invest in it. I’m just trying to explain where the value comes from.
|
|
|
|
|
svendoto23
Member
 Offline
Activity: 218
Merit: 10
|
|
February 23, 2018, 07:36:11 PM |
|
Fast transaction, the Cheaper transaction fee(but nowadays it doesn't), Anonymity of the user, The supply and demand of it in the market, And the last of all its adoption rate is rapidly growing.
|
|
|
|
Lock00Live
Member
Offline
Activity: 238
Merit: 10
Blockchain with solar energy
|
|
February 23, 2018, 09:35:26 PM |
|
Can you think how did the US dollar got its value? How did our currency now got its value? Whatever your answer is the same with bitcoin. Bitcoin has been created to make a peer-to-peer transaction without the use of third party services. People trusted bitcoin like they trusted the fiat money that is why bitcoin got its high price now. TRUST is the answer why they got value.
The biggest advantage of bitcoin is the anonymity and absolute security. This is a great advantage that bitcoin has compared to the previously impossible currencies, which is very beneficial for financial systems around the world. That is why bitcoin is very well received in countries with technology priorities such as Japan, Korea, the United States. |
|
|
|
|
pragna
|
|
February 24, 2018, 01:21:48 PM |
|
I respect you thoughts. But BTC is a digital currency with block chain based and modern world is will fully devitalized with block chain. So BTC value is high as it is using latest technology of the world.
|
|
|
|
|
GeckoTrader (OP)
Jr. Member
Offline
Activity: 196
Merit: 3
|
|
February 24, 2018, 02:11:01 PM |
|
I am also wondering how bitcoin have value. And its value is too high. Bitcoin cannot even use offline. But many of us want have more bitcoins. And we trade and invest to it.
Yeah that also what I am wondering too. If it because of the technology behind it, I think its not worth almost 20000 dollars. Because well in fact the transaction charge of bitcoin is so much high. In comparable of ripple which has low transaction fee below one dollar and faster transfer rate. |
|
|
|
|
|
davida
|
|
February 24, 2018, 02:20:15 PM |
|
Bitcoin value is based upon its Demand and Supply elasticity for goods and services its used for. The people's belief on Bitcoin as pioneer on line Digital currency also plays a vital role in this regard.
|
|
|
|
|
|
danim1130
|
|
February 24, 2018, 02:26:29 PM |
|
In short you are asking why bitcoin has a value right... well it is easy to say because it has price but for me it is the security and the volatility of bitcoin. the price increases in just a matter of short time and you can always trade it if you are patience is enough. then you will have a profit
|
|
|
|
|
|
BabyBoss
|
|
February 24, 2018, 02:27:50 PM |
|
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.
Popularity is not the reason why bitcoin is now valued by people rather because it is very beneficial. I believe that Satoshi Nakamoto readdy made this stage of bitcoin he prepared for this, he gives effort and he give his whole knowledge on how btc become valuable to all people so not popularity but because bitcoin is very potential coin. |
|
|
|
|
SHOSHI ISLAM 5
Newbie
Offline
Activity: 95
Merit: 0
|
|
February 24, 2018, 06:58:06 PM |
|
Bitcoin is a new technology with unique features - it is an irreversible interpretation that transfers this amount and savings. It's free from censorship and other attacks. It has the power to seize authority (directly or indirectly by inflation). At the beginning (year 2009) Bitcoin had no value, but the above list became attractive to the people because they did not want mine and proposed the first deal for the dollar. So, the first value is established as such. Then, it is strengthened - saw more people could sell Bitcoin - and apply the unique feats that keep the Bitcoin conservation / space / price. Bitcoin has really not changed the life of many people I believe there is no reasonable way to help determine the real value of bitcoins. Bitcoins are valuable as collections. The number of people using reliability as their "protector of value" depends on them. More people believe Bitcoin, more confident people will remain within this payment system.
|
|
|
|
|
GeckoTrader (OP)
Jr. Member
Offline
Activity: 196
Merit: 3
|
|
February 25, 2018, 04:33:21 AM |
|
Bitcoin value is based upon its Demand and Supply elasticity for goods and services its used for. The people's belief on Bitcoin as pioneer on line Digital currency also plays a vital role in this regard.
This is the answer what I am looking for. One aspect that affect the value of bitcoin is the people's belief on bitcoin as pioneer on digital currency. Thanks for sharing your thought. According to statistics almost 90% supply of bitcoin was taken by few people and they call them whales, what would happen if they sell all their bitcoin? |
|
|
|
|
GeckoTrader (OP)
Jr. Member
Offline
Activity: 196
Merit: 3
|
|
February 26, 2018, 04:48:17 AM |
|
Bitcoin does not have an absolute value like a 5 or 10 dollar note or any currency of some sort.
What I am asking is how does a bitcoin have any value? What is the basis in calculating the value of bitcoin nor which aspect that contributes in the value of bitcoin. I know that bitcoin does not have absolute value because it will be based on the supply and demand of it. |
|
|
|
|
|
Hui8
|
|
February 26, 2018, 05:33:51 AM |
|
I am also wondering how bitcoin have value. And its value is too high. Bitcoin cannot even use offline. But many of us want have more bitcoins. And we trade and invest to it.
There is no as such wonder blunder in the bitcoin world. We are the only one who are buying the bitcoin and thus putting x value into it by raising its market cap. This is just maths that works on the principle of buying and selling of this currency or any kind of assets in the world. Bitcoin cannot even use offline. Who says we can’t use it offline. We can use it off line for sure with bitcoin debit cards and with services like moxyone. Don’t say that as you are making the people nervous who invested millions to create such crypto debits cards.  |
|
|
|
|
|
kokobaba880
|
|
February 26, 2018, 05:53:31 AM |
|
Every thing which is the popular and trusty of the people they would highly valuable in the market So bitcoin is using by many people of the world that's why bitcoin is valuable in the market. It is good to use this currency for future and the investment in this currency is very profitable the value of this currency is more than any other currency of the world.
|
|
|
|
|
fiulpro
|
|
February 26, 2018, 06:04:50 AM |
|
Its not very apt in saying bitcoin has no value at all.
The fact that it is decentralized, and a digital monetary mode is itself providing it an edge over other paper money and commodities and therefore assigning it a value.
It being popular is not wrong in any sense, but that is not the only reason why people value it and back it. When we go to find the science and technology behind bitcoins, which by the way also laid down a pathway for many many other new cryptocurrencies these days, we cannot stop without aopreciating the whole system.
The security features are at par compared to paper money. And the transparency is also equally fascinating. And the fact that inflation can never occur in bitcoin system is in itself commendable.
Due to all of these reasons and many more, bitcoin has a value, rather an increasing value.
|
|
|
|
cafe84178
Jr. Member
Offline
Activity: 37
Merit: 1
|
|
February 26, 2018, 08:40:50 AM |
|
The value of bitcoin comes from "the recognition of the majority". If people trust it and are willingly to use it, it gains its value.
|
|
|
|
|
|
Bonakid
|
|
February 26, 2018, 08:53:35 AM |
|
Bitcoin is like gold in value,so that many people are interested on crypto.Even though it was volatile the price was still in stability ,investors engage on it due to its increasing value for being in a good standard in the market.When we say in any physical features bitcoin has no value because it was decentralized, but the fact that it is online the value was so amazing.
|
|
|
|
|
randyboy
Member
Offline
Activity: 378
Merit: 10
|
|
February 26, 2018, 08:59:24 AM |
|
all things have value.
bitcoin have value because many people are satisfied of a digital money that help them through easy way of payments and also to have income with no difficulties even its have many speculations. many people want bitcoin besides its popular and many people become rich because of bitcoin and many want that so bitcoin have its own value even you don't want to.
|
|
|
|
|
james23
Newbie
Offline
Activity: 126
Merit: 0
|
|
February 26, 2018, 10:46:50 AM |
|
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.
Its have a value because people are keep trading and investing to bitcoin |
|
|
|
|
sevenbits
Member
Offline
Activity: 166
Merit: 12
|
|
February 26, 2018, 12:14:11 PM |
|
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.
In the end, same as with dollar. How can it be reinforced? Only the agreement of people to deal with him. If this arrangement changes, then the medium of exchange will change. |
|
|
|
|
|
