Why Does Bitcoin Have Value?

[AjithBtc]

The network got developed based on trust, though it hasn't got value in the beginning slowly the increase in demand gave value to it. The value kept growing as the supply is limited and the people using it on different needs keeps on increasing. Though it is completely technology developed, the transformation of valueless token to a transaction source too a reason for getting more and more value.

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[Anna138]

The network got developed based on trust, though it hasn't got value in the beginning slowly the increase in demand gave value to it. The value kept growing as the supply is limited and the people using it on different needs keeps on increasing. Though it is completely technology developed, the transformation of valueless token to a transaction source too a reason for getting more and more value.

Who told you that this is a fully developed technology? Any technology always has the potential for development, whether it is a blockchain or a bread maker. The more digital an asset is, the more potential it has for development. Any mention of bitcoin helps its development right now.

[MCobian]

Of course Bitcoin has value, therefore the demand for Bitcoin is quite high. Especially in a situation like now,
Bitcoin is great as a store of value. Then it makes the level of investor confidence in Bitcoin very high.
Even Bitcoin can save a country's economy, as happened in Venezuela.

[Cryptoreflector_666]

Of course Bitcoin has value, therefore the demand for Bitcoin is quite high. Especially in a situation like now,
Bitcoin is great as a store of value. Then it makes the level of investor confidence in Bitcoin very high.
Even Bitcoin can save a country's economy, as happened in Venezuela.

Everything that has a demand has a value. This is not just happening with cryptocurrencies. My parents have a bakery store in the local neighborhood. We launched an ad among friends that we sell very delicious buns with poppy seeds. They started coming to us with a request and then we just started baking them. It's the same with bitcoin.

[minersday]

It is a simple yet not easy question to answer: why does bitcoin have value

I think this question is very easy to answer. Bitcoin has value because of Blockchain technology.  Blockchain technology represents the true value of Bitcoin and currently in the crypto ecosystem, blochchain technology is the essential technology for almost all projects. Blockchain technology makes bitcoin valuable.  If you kill Blockchain technology, Bitcoin will automatically value less. Once Blockchain technology is the baseline technology of the crypto ecosystem, Bitcoin will always be valuable.

[Zemomtum]

Bitcoin has value because it solves major problem in finances by giving back total control of our capital without giving anybody the capability to stop any transaction making it possible to be our own bank.

[carriebee]

Bitcoin has value because people simply trust bitcoin. It's a phenomenon like gold and they believe it can retain its value.

Yes it has value since people have trust on bitcoin that demand is increasing. With so many predictions on bitcoin, this means many users on crypto. It's really valuable through these days people are into bitcoin with current real uses, limited supply, and store of value.

[Gumbo88]

Because bitcoin is a king of coin, and the bitcoin's value depend on investors, big boy, whale. At this moment bitcoin and alcoin just for holding or trading.

[GeorgeJohn]

It is a simple yet not easy question to answer: why does bitcoin have value?

Bitcoin has value because it has both scarcity and utility. It is a limited and useful resource. It is important to note that something must be BOTH in order to command a market value, NOT either.

Bitcoin is limited to the software-imposed hard limit of 21,000,000 bitcoin units ever in circulation. It is useful because it allows payment information to be secured by a decentralized computing network backed by magnitudes of raw hashing power. That raw hashing power is energy (electricity) converted into digital utility. Each transaction must compete (fee market) to be included in the next block of transactions which has a limited [block space] due to the block size limit (2MB) imposed on each ~10 minute block.

We can expect both the value to increase and the number of users to increase exponentially so long as the current technology maintains itself and remains both useful and in a limited abundance.

Bitcoin will always retain market value so long as miner nodes are actively contributing their hashing power to secure the network (proof of work).

Courses:

• How To Fork Bitcoin [Tutorial]
• Ethereum Programming Course [Certification]
• Bitcoin Aptitude Test [Timed Examination]

Literature:

• The Bitcoin Revolution: An Internet Of Money
• Ethereum: The World Computer

Research Articles:
Why The Internet Of Things Will Be Built On Bitcoin
Blockchain Is The New Corporation
Money Is Now An Image
How The Ethereum Virtual Machine Could Run The World
Africa May Leapfrog Traditional Banking
Did John Nash Help Invent Bitcoin?
Bitcoin May Solve Triffin Dilemma
Bitcoin Introduces Digital Scarcity

Bitcoin 101:
Advantages & Disadvantages Of Bitcoin
How To Store Bitcoin Securely
Who Is Satoshi Nakamoto?
Don’t Let Anyone Tell You The Identity Of Satoshi Nakamoto Doesn’t Matter
Bitcoin Is Backed By Time Itself

Cashless Society:
Is Total Cashlessness Inevitable?
The Growing E-Dollar Culture
E-Banking Squeezing Out Personal Banking

Social Media:
Twitter
Facebook
YouTube

i will like to say that its because  in cryptocurrency bitcoin is father while other alternate coin are sub coin in cryptocurrency,because cryptocurrency we have difference coins example etherum, litecoin order numerous coins to be mentioned,so therefore the of bitcoin always remain constant because is most influential coin among other coins.

[lepbagong]

Bitcoin has value because people simply trust bitcoin. It's a phenomenon like gold and they believe it can retain its value.

Yes it has value since people have trust on bitcoin that demand is increasing. With so many predictions on bitcoin, this means many users on crypto. It's really valuable through these days people are into bitcoin with current real uses, limited supply, and store of value.

Of course we hope that can also enjoy bitcoin which has now become a target for investors to make a very attractive investment because its value is quite attractive because the movement of bitcoin is more valuable. We know that with the value that can continue to move up, it is very attractive to many people and of course it is very profitable if we can also save it.

[3meek]

Of course Bitcoin has value, therefore the demand for Bitcoin is quite high. Especially in a situation like now,
Bitcoin is great as a store of value. Then it makes the level of investor confidence in Bitcoin very high.
Even Bitcoin can save a country's economy, as happened in Venezuela.

Everything that has a demand has a value. This is not just happening with cryptocurrencies. My parents have a bakery store in the local neighborhood. We launched an ad among friends that we sell very delicious buns with poppy seeds. They started coming to us with a request and then we just started baking them. It's the same with bitcoin.

The situation with delicious buns is a bit different than with bitcoins! Suppose you can't store them for a long time, or you have trouble exchanging buns for other products... You can bake an unlimited number of buns... And so on...

[Abiky]

Bitcoin has value because you can transfer this value anywhere in the world where there is an Internet! And you can do it in minutes!
And you can't do it with gold or any other material object!
In fact, Bitcoin easily performs the function of money - the transfer of value!

Exactly. Bitcoin has many benefits that are not found in Fiat or Gold. The pioneer cryptocurrency is portable, extremely secure, and cheap for cross-border payments (sort of). On top of that, Bitcoin is decentralized with no entity behind it. This is what gives Bitcoin value in the mainstream world. People will continue to invest in Bitcoin as long as it remains decentralized. Even with the high fees and slow transaction confirmation times, people are still using it for mainstream payments. Despite what the naysayers say about Bitcoin, it's still alive and running after all these years. Bitcoin is one of the most (if not the most) valuable cryptocurrencies in the world today. It's hard to take it down after years of non-stop success.

All in all, I believe that Bitcoin will remain a valuable cryptocurrency for many generations. Satoshi was a true genius by inventing a resilient form of money anyone can use worldwide. If it wasn't by his/her/their creation, we wouldn't have true financial freedom. Being the first cryptocurrency that introduced Blockchain technology to the world, explains why Bitcoin still has value today. Just my opinion

[wanted sliter]

First, the value of bitcoin lies in blockchain technology, which is very safe and secure, the payment is not reversed through the confirmation of the nodes (confirmed by the miners).
Second, Bitcoin is mined through the process of operating computers to decrypt and create bitcoins. The decoding process requires a computer system and electrical energy is consumed so Bitcoin is the result of the manufacturing process.
Third, bitcoins are widely traded on exchanges, and they become valuable through trading. Bitcoin is widely known and has liquidity around the world so its value is confirmed by everyone.

[Abiky]

First, the value of bitcoin lies in blockchain technology, which is very safe and secure, the payment is not reversed through the confirmation of the nodes (confirmed by the miners).
Second, Bitcoin is mined through the process of operating computers to decrypt and create bitcoins. The decoding process requires a computer system and electrical energy is consumed so Bitcoin is the result of the manufacturing process.
Third, bitcoins are widely traded on exchanges, and they become valuable through trading. Bitcoin is widely known and has liquidity around the world so its value is confirmed by everyone.

Well said. I guess this summarizes why Bitcoin has value. Naysayers will tell the world otherwise, as they hate Bitcoin. You'll end up with comments like "Bitcoin is made out of thin air" or "Bitcoin is a scam". But Bitcoin's widespread success thanks to its decentralized and open source nature has proven them wrong. Ultimately, people are the ones who determine the price of a Bitcoin on the market instead of a central authority. With a deflationary model built right onto the protocol, Bitcoin may never become worthless. The pioneer cryptocurrency presents a greater advantage against traditional Fiat in this regard. As the crypto/Blockchain space grows, more people will use Bitcoin in their daily lives. Decentralization is what makes Bitcoin truly valuable above all else. Take that away from Bitcoin, and you'll get nothing more than a worthless coin that mimics traditional banking.

Nonetheless, Bitcoin is known to have an extremely-volatile nature. In other words, the pioneer cryptocurrency is highly unpredictable. While its price continues to go up on the market, it's not a guarantee that it'll always be valuable. As long as people demand Bitcoin in the mainstream world, everything will be fine. Otherwise, Bitcoin will slowly lose its position until it goes all the way down the drain. Just my thoughts

[scottmdm]

Scarcity and durability 

[remotemass]

Because it is both scarce and useful as a medium of exchange.
It has the top features and characteristics of trustworthy hard money: durability, portability, divisibility, uniformity, limited supply, and acceptability/fungibility.
Bitcoin is both digital gold and digital cash. It is better than sex and probably the best new invention since sliced bread.

[sarmrakib]

Bitcoin has value because it solves major problem in finances by giving back total control of our capital without giving anybody the capability to stop any transaction making it possible to be our own bank.

That is a good point i am reading , bitcoin using make sure that it is my own bank and we can easily make any transaction without going any where .It also make our life so easy and save our time as well with modern life .Next world will be dominate by Bitcoin for sure .

[Reatim]

Bitcoin has value because it solves major problem in finances by giving back total control of our capital without giving anybody the capability to stop any transaction making it possible to be our own bank.

That is a good point i am reading , bitcoin using make sure that it is my own bank and we can easily make any transaction without going any where .It also make our life so easy and save our time as well with modern life .Next world will be dominate by Bitcoin for sure .

saving us from 3rd party,and giving us the chance to have our financial freedom ,these are the reason why Bitcoin has value.
and other than that is the safest way of paying transaction.
specially this pandemic when the people are too afraid holding fiat,so Crypto are there to help them.
but ofcourse only those who have a country that supported Bitcoin.

[budi691]

of course Bitcoin has value because Bitcoin was only created 21 million with an increasing price and everyone wants to own it, it certainly has value, let's see why gold has value because it has an intrinsic character that other assets don't have. Gold is a valuable item that anyone dreams of, and Bitcoin is now so valuable because its price continues to increase.

[BlackHatCoiner]

of course Bitcoin has value because Bitcoin was only created 21 million with an increasing price and everyone wants to own it, it certainly has value, let's see why gold has value because it has an intrinsic character that other assets don't have. Gold is a valuable item that anyone dreams of, and Bitcoin is now so valuable because its price continues to increase.

Am I the only one that doesn't like this answer? The fact that bitcoins can only be 21 million doesn't answer on why it has value. I can create a coin and name it valuecoin, but it doesn't mean that it has value. OP's question is why it has value and you answer him that bitcoins are `few` with an increasing price. He knows it. As for the gold, it doesn't have value only because it has an intrinsic character that others assets don't. It is valuable, because except from the ability to store value, it is one of the greatest metals to make everything look better. I remember Warren Buffet talking about Gold and Bitcoin, he mentioned that bitcoin doesn't help humanity at all.

Anyway to answer the question of the thread, bitcoin has value for many reasons. These are the main ones:

• A currency that no one controls. This is a huge step for mankind. For hundreds of years, people were using a medium of exchange that government controlled and forced its use or precious metals. Why huge step? Because for the first time someone created something that has no owner and especially, a currency.
• Really fast transport of value. With bitcoin you can transfer value within 1 second. Try sending 0.769 grams of gold from America to Europe. It won't be easy for you to cut 0.769 grams from a bar of gold you keep in your basement. Extra hours to deliver it to a different continent.
• You can keep your funds safe. The only thing to do is write 12 words on a piece of paper. The good part is that it doesn't matter the amount of value you "carry". If you have 1 bar of gold keep it on your basement. If you have 1000 bars of gold where exactly will you keep them? It will be suspicious. On bitcoin, though, it has no difference whether you have 1 or 1000BTC.
• Anonymity. This helps mostly on the dark web, I believe, since people that care about their privacy and are not against the law aren't that many. Imagine how easy is drug purchase since there are no middlemen to check sender and receiver.
  

So basically bitcoin is valuable, because of its ability. Since it has a fixed number of units, it makes only demand responsible for the price.

I want to say, though, that it isn't easy to understand how a simple number on a computer corresponds to $10.000, but if you find out why it must have a value, even of 1 cent, then you understand that it can make it to $10k if many people want it.