Why is bitcoin worth so much ?

[fiulpro]

Why is bitcoin worth so much ?

Bitcoin price $9,442.51 coinmarketcap
Ethereum   $236.39    coinmarketcap


1.Btc transaction fees are high
2.Btc takes like 10 minutes - 1 hour to confirm
3.It has no smart contracts support
4.No tokens support
Etc etc ...

Where does the value of bitcoin come from ? I don't understand the logic behind the valuation ...

• The Transaction fee of Bitcoins is not dependent on the price of Bitcoins , it is actually dependent on the amount of Bitcoins . The miners are working too , to make sure that it remains secure and safe . Therefore I do think that it is reasonable.
  At the same time we do have options to pay less transaction fee . Like Lightning network, even though the network is not actually that safe , but now and then , it can be used .
 •The confirmation time of BTC , is rather a blessing. The reason it takes this amount of time to confirm is because this way it provides additional security , you should try and find out about it more .
*Bitcoin transaction is not just verified by one person or company*
• I do think you are not stating the fact that Bitcoins also does support the smart contracts but that's actually limited . One should understand that Bitcoins can use smart contracts you can learn about the protocol online .
• Tokens support ? Do you mean the customer service? It is not centralized therefore there is no point in having one.
• Trust
• Fixed amount of Bitcoins ( Demand and supply makes it much more interesting for the upcoming future)
• High volatility is a blessing for most traders .

There is a lot . No way ETH or any other Crypto is bad , but the thing is people tend to use the one's that they find more trustable . We do have a lower coin supply and liquidity.

I do think BTC is better for Investment purposes and trading and all , ETH is overall good for day to day activities.   

[gamer4156]

Bitcoins Have Value? Bitcoin offers an efficient means of transferring money over the internet and is controlled by a decentralized network with a transparent set of rules, thus presenting an alternative to central bank-controlled fiat money. Bitcoin whenever they add a new block of transactions to the blockchain. Bitcoin has properties that make it similar to gold.

[PavelMed]

Bitcoins Have Value? Bitcoin offers an efficient means of transferring money over the internet and is controlled by a decentralized network with a transparent set of rules, thus presenting an alternative to central bank-controlled fiat money. Bitcoin whenever they add a new block of transactions to the blockchain. Bitcoin has properties that make it similar to gold.

Bitcoin is digital gold. It is so expensive because it is difficult to obtain. Any limited resource will be expensive, the law of the market. And then, digital currency needs to be measured, and the first currency was chosen accordingly.

[bitgolden]

Bitcoin is the first one that got created, well the first one that got any sort of traction and success, all others followed it. Litecoin was actually the second biggest coin, ethereum is getting the attention it deserves nowadays and it is in the second spot. To be perfectly honest with you, if we are going to take a look at which coins blockchain is better or worse we will definitely end up with seeing a ton of other coins which are better than bitcoins blockchain.

Blockchain is not the only thing that makes a coin successful, that is what these new project heads do not understand, you can build the greatest blockchain ever created with every single new feature of the past 10 years all coins combined into one coin, and yet if you do not do marketing well enough and people do not like your coin, it will become worthless with that awesome blockchain of its.

[ecnalubma]

So much trust of Bitcoin that’s why its the most valuable crypto assets. If the fees are main problem there’s a lightning network that everyone can use, if we use Bitcoin and crypto we should understand its risk because its not the ordinary currency that we knew its volatility in nature is what makes it attractive to investors.

[Kakmakr]

It is easy to explain..... Let's say tomorrow people decide that it is better to pay people with Coca-Cola bottle caps and everyone starts doing this, then Coca-Cola bottle caps will become more desirable than other payment options. Let's say this goes on for 5 years and suddenly a small percentage of people start accepting toilet paper.... then Coca-Cola caps will have a 5 year advantage over other payment methods.... because the network behind bottle caps was larger than the network accepting toilet paper. 

Also... imagine Coca-Cola only decided to create 21 000 000 bottle caps and then they destroyed the machines that manufactured these bottle caps and then you compare it to the toilet paper companies that are just printing unlimited rolls of toilet paper... Which one would you choose? (Toilet paper = government fiat currencies) 

[bithisach]

Why is bitcoin worth so much ?

Bitcoin price $9,442.51 coinmarketcap
Ethereum   $236.39    coinmarketcap


1.Btc transaction fees are high
2.Btc takes like 10 minutes - 1 hour to confirm
3.It has no smart contracts support
4.No tokens support
Etc etc ...

Where does the value of bitcoin come from ? I don't understand the logic behind the valuation ...

-----------------------------------------------------------
Here is another thing i found :

Even when the last bitcoin has been produced, miners will likely continue to actively and competitively participate and validate new transactions. The reason is that every bitcoin transaction has a small transaction fee attached to it. These fees, while today representing a few hundred dollars per block, could potentially rise to many thousands of dollars or more per block as the number of transactions on the blockchain grows and as the price of a bitcoin rises. Ultimately, it will function like a closed economy where transaction fees are assessed much like taxes

Source: https://www.investopedia.com/tech/what-happens-bitcoin-after-21-million-mined/

It got to people first, and unlike what you think many people are working CONSTANTLY to improve it.

[The cure]

Bitcoin get so expensive because it got so popular. And its only limited. Investors are attracted to it because Bitcoin is trust worthy crypto currency.

[cosmofly]

for one reason Bitcoin is not controlled by anyone. It is a free coin and manipulation organizations have taken advantage of this to push bitcoin's price up and own lots of bitcoins. They will then become one of the richest people in the crypto market and continue to manipulate the whole crypto market. That is the main purpose for the price of bitcoin to grow. So, from the beginning I didn't have the concept of investing in technology, this is just a price-making market. New trading makes us rich.

[AniviaBtc]

It is the king and the most known widely accepted cryptocurrency in the market.

Yet, it is the most popular and the volume of people who are using this cryptocurrency are extremely high compared to other coins. Some coins are making bitcoin as its basis in terms of its price, that's why the population of bitcoin holders are progressively increasing in number.

You are missing that all coins in the industry are paired with Bitcoin. This means the there is high volume and high demand for Bitcoin every time someone wants to buy any altcoin.

Bitcoin really is the hardest to manipulate among coins because of its worth and extreme value in the market, but its profit that it can give you is also high compared to those altcoins that are existing.
Altcoins are really an alternative and bitcoin should be your always priority whenever you engage into some transactions or holding.

But still, both of the coins can give you profit depending on your manipulations.

[Kelvinid]

Everyone didn't expect Bitcoin to gain market value at the start but the creator would like to emphasize the importance of this technology in the future that could help to encourage people to take on it. From $0 to $20k, people didn't think about it and that it catches attention when the bullish had come. We can see an important role for Bitcoin nowadays and that could also be a reason for the price to spike.

High fees could actually get attention and worries especially for small investors but not a thing to worried about. Fees may go high or down as well depending on the market situation.

[bitbunnny]

Bitcoin is worth as much as people are willing tp pay for it, it's defined by the market. It's similar like you've asked why.gold is worth that much.
Since Bitcoin is decentralized so not under control of any centralized body that could define or influence the price, it's purely defined by users. So, as long there is demand for Bitcoin it will have certain value. The bigger demand and the smaller supply, the price will go higher.

[Zackgeno96]

Why is bitcoin worth so much ?

Bitcoin price $9,442.51 coinmarketcap
Ethereum   $236.39    coinmarketcap


1.Btc transaction fees are high
2.Btc takes like 10 minutes - 1 hour to confirm
3.It has no smart contracts support
4.No tokens support
Etc etc ...

Where does the value of bitcoin come from ? I don't understand the logic behind the valuation ...

The value comes because of the fact that Bitcoin is the genesis of all the cryptocurrencies and also that ethereum is having an unlimited supply but bitcoin supply is limited to 21 million coins which will be mined by the end of 2140, so limited supply and high demand of bitcoin which ultimately makes its price higher than the most of other cryptocurrencies. Bitcoin is more of store of value rather than a currency to most of the people, they are saving their bitcoins and using altcoins like ethereum for transactions and paying for goods.

[CryptopreneurBrainboss]

Since you're comparing ethereum with bitcoin, let's take the demand of both asset into discussion. Although ethereum has benefited from the market in the past couple of years as a result of the hype from crowdfunding and been tagged the mother of altcoins etc, also benefiting from the anticipation of its forthcoming upgrade (ETH 2.0) still it can't be compared to the demand of bitcoin and trust it has gained in her 10 years of operating.

Now when the amount of tokens both asset has in circulation, in regards to their supply. The supply of ethereum is way bigger than that of bitcoin therefore you don't expect both asset to have the same price irrespective of them having equal or close range market capitalization. When you're comparing bitcoin to other cryptocurrency do understand that we're not yet half way into the potential price bitcoin as an asset can attain therefore the current price shouldn't discourage you from investing into it.

[Twentyonepaylots]

Bitcoin is worth as much as people are willing tp pay for it, it's defined by the market. It's similar like you've asked why.gold is worth that much.
Since Bitcoin is decentralized so not under control of any centralized body that could define or influence the price, it's purely defined by users. So, as long there is demand for Bitcoin it will have certain value. The bigger demand and the smaller supply, the price will go higher.

If it's defined by the market then we can totally say that bitcoin is the people. This isn't surprising for bitcoin since it came first as cryptocurrency, of course people will trust the first born crypto. If you see the first one that's still exists now there could be special about it right? Aside, the bitcoin had already built a reputation after hitting the ATH in the crypto scene, that's the most epic reason why people are buying bitcoin.
Basically people chooses bitcoin because bitcoin is the top currency.

[SquallLeonhart]

That is a great understanding of the market, bitcoin worths that much because you pay that much for it. If you paid 100 bucks for it and everyone agreed then we would have bitcoin at 100 dollars, but since you are willing to pay $10k for it the price becomes $10k.

There is nothing stopping the buyers from not buying at these levels, when buyers stop buying the sellers will start to sell lower and lower to be able to sell their coins and when they fail to do so they will keep going down until they reach to a level where buyers start to buy. That is how the market price is decided and right now it is very high whereas it is not that high for the other coins. Basically it is the humans that makes bitcoin worth that much, it is us, it is you and me, there is nothing secret behind it.

[asianguy845]

The primary reason BTC is worth so much is because of the people.
BTC also follows the market of supply & demand. Supply as well as demand is quite high, so the BTC price is high.
That's also why the price fluctuates.

Hope this answered your question OP. 

[jostorres]

I think if Ethereum is the number one cryptocurrency and there are lots of people making use of it like they are doing with Bitcoin, the fees you will be paying will be more than what you’re paying now. Bitcoin is on top the list and is the only cryptocurrency that is well recognized.

I don’t have to tell you thatif you check online you will notice that Bitcoin is more accepted than any other cryptocurrencies, in fact I have not seen other cryptocurrencies being accepted anywhere; unless for Ethereum which I have only seen once. Even local over-the-counter traders where I live are not interested in Ethereum or any other cryptocurrency, they only trade Bitcoin.

[Afzal0]

Bitcoin is a popular means of earning money in today's world, the number of Bitcoin users is increasing day by day, so I think the amount of Bitcoin transactions is also increasing ... Bitcoin customers choose Bitcoin as a good medium of transaction.

[rk8814719]

Bitcoin is digital  decentralised crypto currencies Main Bitcoin Aim Any transaction P2P Not information third party it fully secured.this is reason bitcoin worth future so high.