bitcoin technology has been obsolete, why bitcoin prices still expensive?

[IndigoRed]

How can blockhain technology be obsolete when there is a growing demand for it? Banks are even beginning to see the advantages of blockchain technology. In fact, just a few days ago, Den Norske Bank), Norway’s largest financial services group, and the IOTA Foundation have signed a memorandum of understanding. DNB and IOTA will now reportedly cooperate to explore applications of the IOTA Tangle, a “third-generation” distributed ledger - the technology is designed to handle hundreds of thousands of microtransactions per second.
And also, bitcoin is affected by scarcity and demand thus, affecting its price.

[libert19]

Because it is grand father of Blockchain technology lmao. Anyway, it is old age but there are improvements once in a while like lightning network plus all other cryptos are paired with Bitcoin so that also makes some sense.

[Roukawa]

It is true that bitcoin technology is outdated and outdated, compared to other technologies such as ethereum or Ripple, but here bitcoin still has a high trust in society so people sometimes do not care about the technology used.

Bitcoin is simple and people really like it. Though blockchain technology of bitcoin is too obsolete compared to the altcoins, people really likes the way it works. Bitcoin will not remove to the market nor its price will constantly floor down. Its reign continuously dominate because people wants to buy bitcoin not by its technology but by its purpose which is to transact in the simplest way.

[patron bounty]

the ancient is not the reason of high or low prices but the growing popularity, the large number of buyers and the limited amount that will make bitcoin prices remain expensive

[NavI_027]

I want to ask, many people are talking about bitcoin technology, they say bitcoin technology is old and outdated, why bitcoin prices are still expensive, why do so many people also buy bitcoin, according to you, what determines the price of bitcoin

You're right, we can say that it's already outdated when we compare it to other cryptocurrency but if we will talk in general then no doubt that btc is the newest form of monetary system.

Bitcoin still remains expensive simply because it has the highest number of holders among others. And since this is the most trustworthy coin in the market (that's why he is 1st), the demand for it do not fade — meaning, investors still continue to buy making the price soar high.

[Jessica2009]

    To my point of view Bitcoin technology is not obsolete  Bitcoin was introduced on 2009 and now also it is in its infant stage  .People who are in this community has experienced positive and many have reached their goal in life and living a life of freedom without a third party involvement . By understanding more people are anxious to join this Bitcoin community, since there are limitations in Bitcoin and half percentage of the Bitcoins are already mined so it will be tough to mine Bitcoins that is why Bitcoin prices are  expensive now.

[Mikhail_Shmurge]

So inquisitive, that will not be limited to three presented versions, we will tell the fourth. Bitcoin is expensive because it is a virtual analog of gold. If you can print normal currencies as much as you want, then you can not issue digital cash. Its volume is limited, it is 21 million. And already in the next century "Bitcoin's Mine" will be exhausted. So, these coins will only rise in price and rise in price.

[xeomthanhpho]

It is possible that bitcoin has created the world of pre-coding so it is still expensive

[inanilujimi]

not just the technology alone makes the bitcoin price too high but also because of its popularity that attract investors and bitcoin is the first crypto in the world.

[cryptovally01]

In fact it is really right that bitcoin technology has become outdated and obsolete compared to other coins operating in the market called Ethereum, ripple etc. But here in the crypto currency trust id the most important factors. People have trust on bitcoin and hence it is still expensive. Bitcoin has high growth rate.

[annasadia]

In case of btc still it’s the highest position in the market because of its benefits and facilities also though it come 1st in the market they are taking first mover advantage in the market because a number of people invested money in here to make their money double or more profitable

[sunlitit654]

Bitcoin is the 1st cryptocurrency invented and it still ranks the top among all other currencies. Yes, their technology is somewhat old when compared to the new cryptocurrencies in the market. But it is more stable and secure than any other currency in the market also.

[jakerfox]

It’s a fake news that bitcoin price is outdated. Bitcoin has that much potential to hold their position in the market and for this reason the price is still the highest. I believe this price will increase more in the coming days.

[Olafs]

Precisely with the rare presence of bitcoin, it will further boost the price, because the bitcoin price will increase if the number of requests more than the amount of supply.

[Baoo]

In my opinion, the era of bitcoin has changed everything related to the funds area for the better, so it is a revolution, furthermore, it is very expected that the crytocurrencies in general will have a good future in the near future, maybe we will see one day, bitcoin' as a single coin in the whole world, especially if the majority of governments will recognize Bitcoin, and I think this will happen after a few weeks, because during this period there are many problems or attacks that's why the market in a total decline.

[jamesmitchel018]

In spite of being a bit slow and also expensive bitcoin already have gained its full support & legit community which will take it a lot further. Almost all crypto currency use blockchain & they must know that bitcoin will be much beneficial to them.

[voltagecrypto]

Nice question. In crypto industry, bitcoin is the pioneer. As a result, most of the transactions of alt coins are done by btc. Moreover, it has value which is continued over a time. And I believe that these are the reasons of high value for bitcoin.

[kotulo]

You should think that Bitcoin is something that is ancient, it is worth flying high and still in the team behind it again.
The block chain is used by almost all currency coding and some companies are really considering using block chaining as well. They know how they can benefit from block chain technology.

[sandraonas]

The value of bitcoin is more about the sentimental value people attach to it ,not necessarily as a result of its functional prowess.Bitcoin cash can basically do all that bitcoin itself does but it sells at about a tenth of bitcoin price.I also argue that bitcoin 'deserve' that exclusive right since it is the first crypto-currency. Much same way Gold is in the world of precious metals(silver has more uses that Gold but the price is never at pal with Gold).

[supermine]

I want to ask, many people are talking about bitcoin technology, they say bitcoin technology is old and outdated, why bitcoin prices are still expensive, why do so many people also buy bitcoin, according to you, what determines the price of bitcoin

The price of bitcoin determines by the demand and supply so the price is still expensive because of its high demand,and I don't understand why you sating that technology is outdated,it is the new blockchain technology which is implemented only on the crypto field still yet to implemented in the different sectors too,so which means it is still new and future technology so the price will get more increase in the upcoming years.