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Author Topic: Bitcoin value  (Read 3022 times)
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April 01, 2018, 05:25:02 AM
 #1

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

 " like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.
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April 01, 2018, 05:29:04 AM
 #2

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

 " like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.
Bitcoin value it changes everytime it is not permanent nit like a paper money it's value is permanent and stable
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April 01, 2018, 05:32:14 AM
 #3

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

 " like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.

Yes basically that is true not only in bitcoin but on all things un the world. I will give you an example why does some old baseball cards are worthless and some cost a fortune well because more people like that card.

Yes you maybe new and correct we are on a bear market but if you have not bought anything yet this is the perfect tume to invest.

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April 01, 2018, 05:32:20 AM
 #4

The value of bitcoin are very volatile it may decrease and increase it's because of the users of bitcoin the supply and demand can affect the bitcoin price.
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April 01, 2018, 05:41:40 AM
 #5

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

 " like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.
Bitcoin value is not permanent it goes up and down not just like a paper money it's value it stable
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April 01, 2018, 05:53:32 AM
 #6

Ultimately, everything has value because people agree so. The same is true for fiat. In reality fiat is only a piece of paper and we all agree it has value. The only difference between fiat and btc is who backs what. What scares people the most is that btc has no issuing authority. They feel unprotected using it. But so far btc has proven itself to be formidable.

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April 01, 2018, 06:09:11 AM
 #7

Any currency or commodity has perceived value, because people gives it value. Why do people want to use a little piece of paper to buy a cup of imported coffee from a coffee shop? Why does the coffee shop vendor want that piece of paper? The simple reason is that people believe that the piece of paper are backed by the government and the government guarantee it's value.

In Bitcoin people can use the token to transfer value globally, because the token has a perceived value that are determined by supply and demand on a open market. ^smile^

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April 01, 2018, 06:14:26 AM
 #8

" like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

it is true but also misleading because it is incomplete.
people don't just randomly decide bitcoin has value. it has some fundamental reasons. otherwise a lot of other things like grain of salt would have also been worth $20000 for example!
it is the utility of bitcoin that gives people a reason to give bitcoin a value. it is the fact that bitcoin is a decentralized and censorship resistance currency that makes them want to buy more of it (creates demand) and that demand increases its price.

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April 01, 2018, 06:18:18 AM
 #9

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

 " like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.

Yes, I believe the people in the cryptocurrency community were actually the ones put value on bitcoin. However, due to it's volatility, bitcoin is susceptible to fluctuations either be going up trend or down trend. In my opinion, due to high demand and limited circulating supply of bitcoin makes it more valuable. Hope this comment will be acceptable to the author of this thread.

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April 01, 2018, 06:21:22 AM
 #10

There are predictions that 2019 bitcoin will probably increase to $ 50,000, maybe?
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April 01, 2018, 06:24:05 AM
 #11

That statement applies to anything.

USD wouldn't have value if people didn't believe it has value. Silver wouldn't have value if people didn't think of it as valuable. Before the first currency system (Mesopotamian Shekel) was introduced, the only way people could gauge value was by their needs. If I needed food for my family and you needed an axe, we would both find each other's items valuable and would preform a trade.

The value of cryptocurrency is primarily based on speculation, which is why it is common to see drastic price changes. Unlike fiat which is usually backed by something (such as gold), Bitcoin is valued at what people believe it is worth. With new news coming out, their personal valuation changes as well.
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April 01, 2018, 06:28:45 AM
 #12

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

 " like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.
Bitcoin have different value all the time and not only bitcoin different coins have value. Bitcoin price are down and up every second so the value of bitcoin is not permanent its gonna be up and down.

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April 01, 2018, 06:37:07 AM
 #13

if it really take over place of fiat, it will be price of diamond. if it fails to replace fiat, some other cryptocurrency might will be the one to be used around the whole world
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April 01, 2018, 06:38:03 AM
 #14

Yes it true,the value of a thing depends on how the people value it. Truly most of all transactions or the value of  commodity depends on the principles of market and demand, the more and more people demand on every commodity and there is no enough supply to sustain that demand then the value of such commodity increases. Since bitcoin is very popular and more and more people wanted to be part of this trading,it makes the bitcoin very dependable and yet very volatile so its value and price is undetermined and cannot be predicted.
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April 01, 2018, 06:44:44 AM
 #15

the value of thing depends on how the value for everything because people agree so,the same is true for fiat...in reality fiat is only a piece of paper and we all agree it has value,the only difference between fiat and btc is who backs what. What scares people the most is that btc has no issuing authority...they feel unprotected using it but so far btc has proven itself to be formidable....
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April 01, 2018, 06:47:39 AM
 #16

Yes, he told the truth,the price of bitcoin depends entirely on people, if people use it and pay for it,then it has value, if suddenly it ceases to be popular,it will not cost anything
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April 01, 2018, 06:49:08 AM
 #17

It's true that bitcoin is worth it because there is a deal of bitcoin users, and now the value of bitcoin prices is declining and this is a great time to make a purchase and invest.

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April 01, 2018, 07:22:43 AM
 #18

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

 " like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.
Bitcoin value is not permanent it goes up and down not just like a paper money it's value it stable
that bitcoin price will not be permanent, will surely go up and it also can not we know dwngan true, there must be mlesetnya.

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April 01, 2018, 07:30:57 AM
 #19

Bitcoin is ahead in terms of money in the current market. At present, how much is the price of Bitcoin, it is understood to be of interest to people, and for the people of danger, the price of Bitcoin is more.
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April 01, 2018, 07:41:09 AM
 #20

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

 " like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.

It is not that simple but like everything in the world, all bought and sold in the market are given value by the law of supply and demand. It is the market that decides if something has value and how much.

A good example is gold. The value it has today is because of the price the people are willing to buy it for. But trap those same people in a desert and sell them water or gold, then I believe water would be more in demand, making it more "valuable".


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