Why Does Bitcoin Have Value?

[Abiky]

Yes, bitcoin has value because people believe in bitcoin. The limited supply of 21M bitcoin can also be a supporting factor that bitcoin will have value for a long time. In addition, bitcoin has been used as a profitable investment asset only because of price fluctuations that continue to occur. Some people consider it a place to store values "it is not recommended to maintain values" such as gold and silver.

The adoption of bitcoin as a financial innovation also plays an important role in its value, its innovation as a decentralized payment system has made people believe in bitcoin. Although bitcoin still has problems with scalability, people still believe and it is proven that bitcoin is the most adopted asset in terms of usage, value and market capitalization.

Exactly. There are so many people who support Bitcoin no matter what. Besides that, Bitcoin is the first cryptocurrency ever created which focuses on decentralization/censorship-resistance. No other crypto compares to Bitcoin when it comes to achieving unparalleled security and reliability against third-parties. That's what makes Bitcoin truly valuable from the rest of the "pack". Additionally, Bitcoin's extremely limited supply contributes towards higher prices on the market. As long as there is a vibrant community of developers and average individuals alike, the pioneer cryptocurrency will always be a valuable safe-haven asset for those who need it the most.

Remember, Bitcoin is similar to Gold because of its organized structure (decentralized) and limited supply on the market. Other altcoins may simply become worthless over time due to the lack of real use cases and adoption in the mainstream world. As long as Bitcoin sticks to decentralization principles, people will consider it to be a valuable currency for day-to-day transactions. Just my thoughts

[meanwords]

Bitcoin has value because it is a coin widely known worldwide. I don't think there is any possibility of Bitcoin going down to 0 because the demand for Bitcoin is increasing day by day. As the demand increases, so does the value of Bitcoin. As long as there is demand and use, its value will remain the same. I hope that in the near future Bitcoin will play an important role in international trade and transactions.

I don't think Bitcoin is valuable because it is widely known? What about the days where people don't know Bitcoin and only few knows it? what value did they saw to mine Bitcoin? you see, it's not Bitcoins popularity but utility and it's technology that brings people to use it. Without it's semi-anonymous feature and its decentralization, then people wouldn't even bat an eye.

[Mpamaegbu]

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.

May be you should scratch that "scarcity" clause. I don't believe it's because Bitcoin has a little fixed total supply of 21million that gave it its price value. Nah! That isn't true. We have coins and tokens less than a million in total supply, yet their prices aren't even half of what Bitcoin price is. However, I agree with "utility" and use case of Bitcoin being a boost to its price. Need I add that what has helped Bitcoin this far is its status as the "Pathfinder" of this industry? Pathfinders always enjoy a sort of privilege 🤔

[btc78]

Bitcoin has value because it is a coin widely known worldwide. I don't think there is any possibility of Bitcoin going down to 0 because the demand for Bitcoin is increasing day by day. As the demand increases, so does the value of Bitcoin. As long as there is demand and use, its value will remain the same. I hope that in the near future Bitcoin will play an important role in international trade and transactions.

I don't think Bitcoin is valuable because it is widely known? What about the days where people don't know Bitcoin and only few knows it? what value did they saw to mine Bitcoin? you see, it's not Bitcoins popularity but utility and it's technology that brings people to use it. Without it's semi-anonymous feature and its decentralization, then people wouldn't even bat an eye.

Nope look when there are less people know about bitcoin can you compare the price from there to these days?
Look how cheap bitcoin from that time because there are less demands and only few people uses this.
And now there are million people here that supports and uses bitcoin(this is just my estimate lol) imagine how Huge we go in price growth?
this means one thing that popularity is part of the increase from price.

[coinfinger]

I will just go with that utility. Anything can have value as long as we trust and make use of it. There were times people were making use of some fine stones as money and the reason is because they believed in it. And I believe if you're giving one of those stones today as payment you will not accept it.

I think that's the case with Bitcoin; we see it as money and we are utilizing it and that's why it's working out for us. If the community stops believing that it is money, then that's the end of it. Assuming in the beginning when Satoshi created Bitcoin people never believed in it, then it wouldn't have been here today. We all accepted it. But for gaining popularity and to increase the adoption, I guess bitcoin is temporarily having that investment feature. Once bitcoin achieve a stable prices then people will start using it as a money without any secondary thoughts about saving it .

[Mahanton]

Bitcoin has value because it is a coin widely known worldwide. I don't think there is any possibility of Bitcoin going down to 0 because the demand for Bitcoin is increasing day by day. As the demand increases, so does the value of Bitcoin. As long as there is demand and use, its value will remain the same. I hope that in the near future Bitcoin will play an important role in international trade and transactions.

I don't think Bitcoin is valuable because it is widely known? What about the days where people don't know Bitcoin and only few knows it? what value did they saw to mine Bitcoin? you see, it's not Bitcoins popularity but utility and it's technology that brings people to use it. Without it's semi-anonymous feature and its decentralization, then people wouldn't even bat an eye.

Nope look when there are less people know about bitcoin can you compare the price from there to these days?
Look how cheap bitcoin from that time because there are less demands and only few people uses this.
And now there are million people here that supports and uses bitcoin(this is just my estimate lol) imagine how Huge we go in price growth?
this means one thing that popularity is part of the increase from price.

When we do talk about popularity then it would definitely talks about demand because if its unknown to the community then it wont really
get that attention.A thing that do gain value is that into something that has demand and this is where bitcoin head on.Sadly that i havent
considered this one when it was just starting wayback when im still at college where it doesnt even have that value or you can freely mine
but i totally ignore this one which really a regretful thing but its never too late to engage though because we know that this one will
still fly in the future.

[juanforce]

Bitcoins have value because they are useful as a form of money. Bitcoin's value comes only and directly from people willing to accept them as payment. In addition, Bitcoin is both a decentralised currency, meaning anyone can participate in minting, and its peer-to-peer, so there are no third parties involved as you can run a full node and validate your own transactions as well. It’s the currency of the internet, free from jurisdiction and government-imposed law.

[Abiky]

I will just go with that utility. Anything can have value as long as we trust and make use of it. There were times people were making use of some fine stones as money and the reason is because they believed in it. And I believe if you're giving one of those stones today as payment you will not accept it.

I think that's the case with Bitcoin; we see it as money and we are utilizing it and that's why it's working out for us. If the community stops believing that it is money, then that's the end of it. Assuming in the beginning when Satoshi created Bitcoin people never believed in it, then it wouldn't have been here today. We all accepted it. But for gaining popularity and to increase the adoption, I guess bitcoin is temporarily having that investment feature. Once bitcoin achieve a stable prices then people will start using it as a money without any secondary thoughts about saving it .

Utility is what gives Bitcoin value above anything else. If people don't find an asset to be useful in their daily lives, they'll simply consider it to be invaluable. There's more to Bitcoin than meets the eye. Aside from its utility, Bitcoin is a decentralized and censorship-resistant cryptocurrency with a very limited supply. Every 4 years, there's a reduction in the number of Bitcoins produced by miners. This, alongside, demand from everyday people within mainstream markets, allows Bitcoin to be an extremely valuable cryptocurrency. While naysayers often criticize Bitcoin by being "made out of thin air", we all know that's not the case. The world is still unaware of the benefits Bitcoin provides, largely because of the negative reaction from mainstream media. Once people get to recognize the true power of Bitcoin, you could expect it to be a lot more valuable than what it is right now.

Ultimately, people are the ones who decide Bitcoin's price on the market. As with anything, Bitcoin's value is determined by psychology. If people believe Bitcoin to be valuable, it'll be that way for the foreseeable future. Otherwise, it'll be worth nothing. What makes Bitcoin truly unique among other cryptocurrencies on the market, is its vibrant community of developers, and individuals alike. It's always active in development, and innovation, providing real use cases for the mainstream world. Being the most secure cryptocurrency to-date, it'll maintain its value for a very long time. Just my opinion

[lyka]

It is strange for me to hear that bitcoin has value and scarcity. This fully, but in varying degrees, applies to any fiat currency. However, the main reason for scarcity and value is the possibility of a useful exchange, that is, an exchange for goods and services. This function is wholly owned and is in the hands of the bank. In other words, this bank determines how much bitcoin can participate in the real economy. And that’s right if you don’t want chaos. Well, if you want chaos, you are an inadequate person. That, in fact, is all.

[Anish_Rocky]

Bitcoin is valuable because it backed big crypto community. We give value to bitcoins. Value depend on demand and uses. If people want to down bitcoins it will go down for sure. Value is depend on how people thinking it's value.

[lyka]

Bitcoin is valuable because it backed big crypto community. We give value to bitcoins. Value depend on demand and uses. If people want to down bitcoins it will go down for sure. Value is depend on how people thinking it's value.

You are right, I agree with you. Value depends on how people think it is value. However, the exclusively speculative value and the value of a useful exchange are completely different things. And in order for Bitcoin to have the value of a useful exchange, you need to have a very wide payment practice. The widespread practice of payments is a privilege of the government and supranational regulators of the global economy. That's all.

[wozzek23]

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

All these long stories are quite unnecessary, you should have just gone straight to the point of what you’re trying to say, which is utility. It’s all about trust, and people make use of what they trust. When people trust something, they invest in it without fear because they believe in it. By them investing and making use of it (utility) it will start to have value. The community is what’s holding Bitcoin , if people should stop believing and investing in it, it will fall to zero.

In other words, this bank determines how much bitcoin can participate in the real economy. And that’s right if you don’t want chaos. Well, if you want chaos, you are an inadequate person. That, in fact, is all.

I understand that you mean that a miner (the possible first level seller of bitcoin) will sell bitcoins only for cash; from this you mean that how much bitcoin in circulation or participating in real economy is based on bank? I guess people may sell bitcoins NOT only for cash but also services. It means number of bitcoins which are participating in the real economy does not need to be depending on bank. I mean people get bitcoins by paying cash and by working for bitcoins as well.

[Johnboy666]

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[lyka]

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

All these long stories are quite unnecessary, you should have just gone straight to the point of what you’re trying to say, which is utility. It’s all about trust, and people make use of what they trust. When people trust something, they invest in it without fear because they believe in it. By them investing and making use of it (utility) it will start to have value. The community is what’s holding Bitcoin , if people should stop believing and investing in it, it will fall to zero.

In other words, this bank determines how much bitcoin can participate in the real economy. And that’s right if you don’t want chaos. Well, if you want chaos, you are an inadequate person. That, in fact, is all.

I understand that you mean that a miner (the possible first level seller of bitcoin) will sell bitcoins only for cash; from this you mean that how much bitcoin in circulation or participating in real economy is based on bank? I guess people may sell bitcoins NOT only for cash but also services. It means number of bitcoins which are participating in the real economy does not need to be depending on bank. I mean people get bitcoins by paying cash and by working for bitcoins as well.

Dear wozzek23, I would like the following to be understood: the practice of widespread trade exchange is the only thing that is eternal. And this is what defines the essence of any payment symbol. All derivatives and technologies, all these futures and so on, they are finite. The existence of states sometimes has big surprises, and what could not have been supposed 3-5 years ago suddenly becomes a reality. The same applies to the economic structure of the civilization of the planet.
I do not just believe, I understand that the future is an emission-free economy, in which there will be no derivative financial instruments, and no surplus value from the air. But for this, the world must become truly united.
It should be understood that bank interest and derivative financial instruments are not only a means of making profit and enrichment. This is a powerful catalyst for scientific and technological progress. It works like this: you are a businessman, you took a loan to start a business. To pay off your debts, you must control your business so that it constantly strives to be better than your competitors.
So, our conditional futures and bank interest is a catalyst. But, when you rush to the airport, and you see 200 km / h on the device, you know that you will slow down as soon as you arrive, and get out of the car to transfer to the airliner. And when you take off, you will be supported in a quiet flight by physical laws that are important for the car too, but not intended for flight.
Why Libra or TON with so many followers can bring trouble for a relatively stable transition to a new economic model? But because they embody an emission-free model too early. For now, emissions are needed and important for stability. It is clear that this has a limit, but the basis for such a transition should be ready.
Why is bitcoin not dangerous in the same role? Because it cannot become the basis and base of premature broad payments.
But Bitcoin may have additional features. About which no one is talking yet, and most people simply do not think.

[bitbunnny]

To my opinion the answer is very simple, people are willing to pay to get the Bitcoin. So, Bitcoin has the value and defined specific price according to the demand and supply ratio at the market. As long as there are users who pays for Bitcoin, trade with it and use it as a payment method Bitcoin will have the value, just like any other currency, asset or anything else that is valuable.

[DoubleEdgeEX]

It all comes down to one thing: Trust. - When Nixon got rid of the Gold standard the backup value of the USD got taken away as well. Since then, the Dollar is just as much as every other currency on the planet only valuable because of the trust in it. You can trust your local backery that you get goods with the value of 10.- if you pay 10.- The trust in the Dollar got damaged by the debt economy and its effects on the US market, now losing its hegemonial status to China again. 1.5B people "trust" the Yuan, but it is again just a currency based on trust.
The main difference between the trust to fiat and Bitcoin is that BTC also represents hope, liberty, privacy and a new way of doing things. It´s somehow an exciting new toy for mankind

[Latviand]

To my opinion the answer is very simple, people are willing to pay to get the Bitcoin. So, Bitcoin has the value and defined specific price according to the demand and supply ratio at the market. As long as there are users who pays for Bitcoin, trade with it and use it as a payment method Bitcoin will have the value, just like any other currency, asset or anything else that is valuable.

The reason why bitcoin have value it is because bitcoin can be mined and have limited supply. Bitcoin block is limited and it also experience halving that makes it in demand in the market, especially that as time goes by, many people are using bitcoin to trade, to buy and sell, to use in gambling and in many transactions.

As a payment method, bitcoin is really useful because of its price value compared in other currency just like fiat. It's price varies depending on the market situation and movement. That's the reason why there are people who are now engaging in bitcoin investment, because they know that there is something more than bitcoin, not only just a coin where you can use as a payment in many transactions.

[imstillthebest]

To my opinion the answer is very simple, people are willing to pay to get the Bitcoin. So, Bitcoin has the value and defined specific price according to the demand and supply ratio at the market. As long as there are users who pays for Bitcoin, trade with it and use it as a payment method Bitcoin will have the value, just like any other currency, asset or anything else that is valuable.

The reason why bitcoin have value it is because bitcoin can be mined and have limited supply. Bitcoin block is limited and it also experience halving that makes it in demand in the market, especially that as time goes by, many people are using bitcoin to trade, to buy and sell, to use in gambling and in many transactions.

As a payment method, bitcoin is really useful because of its price value compared in other currency just like fiat. It's price varies depending on the market situation and movement. That's the reason why there are people who are now engaging in bitcoin investment, because they know that there is something more than bitcoin, not only just a coin where you can use as a payment in many transactions.

so why what about fiat . it cant be mined but it do still have a value  ?  other cryptos dont have a fixed supply but do still have a value too  .

 halving does not also trigger demand and it isnt built for that way  but halving have a different purpose   . decrease on the price of btc is the only thing i think of that triggers demand  but that is true that btc has a value because people bought it or put money on it by converting thier fiats   .

[Alert31]

For me,bitcoin have value because people patronized it. They understand the usage and importance of this coin and because of that the demand keep on increasing that bring it to become valuable digital currency. Another reason also ,bitcoin has only a limited circulation of supply over demand. And because of being volatile of bitcoin people know that through this they can earn money.

[clara.zhang]

I have watched many youtube videos and article about this and your explanation is the shortest and clearest.

Will definitely use this whenever my friend asked

Thank you