CryptoStar19
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June 18, 2021, 06:06:10 PM |
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With a fixed supply, Bitcoin's value is determined by the narrative around it and the collective belief that it has value. This is in large part determined by how known and widespread it is... that bitcoin is worth tens of thousands of dollars versus a few dollars years ago is a difference in being known and believed in and trusted by many more people in that time-frame.
This trend of bitcoin becoming exponentially more popular is going to continue for years to come because only a tiny fraction of the world is involved in the space today. To think how much more valuable bitcoin is going to be when %10 of the world joins the space versus ~ %0.1 these days...
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hazenyc
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June 18, 2021, 11:53:57 PM |
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Noob here. Even if some places accept Bitcoin, the price is still quoted in dollars? Bitcoin's value per say is in US dollars, a fiat currency subject to inflation. If we remove the value based on the dollar, then is the price of Bitcoin just based on supply and demand?
I also hear people like Cathie Woods and analysts at JP Morgan say Bitcoin will reach $500k or $140k respectively. I understand for stocks you can look at financial statements and make valuation models to calculate target prices, but for Bitcoin, is the value based on the scalability of network?
I believe the value of Bitcoin could even be differing from person to person, or from country to country. That is why we saw Bitcoin trading at a mark up in countries like Venezuela or Turkey. In the wealthy and secure countries Bitcoin plays much less of a role from an existential perspective than it does in countries with unstable conditions and authoritative regimes at the top. If you need to hide your assets or your cash from getting seizes by a corrupt police the best thing you can do is actually get cryptocurrencies and hide your private key. There is nothing they can do about that. If you live in a safe place the world is all different, that is at least my perspective.
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maisao1991
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June 19, 2021, 12:21:03 AM |
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The value of BTC is in itself, no one can control it, the profit margin is large, it is difficult to mine until now, the total supply is low, because of these things, the value of BTC has increased rapidly. face in recent times.
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acener
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June 19, 2021, 01:17:32 AM |
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Noob here. Even if some places accept Bitcoin, the price is still quoted in dollars? Bitcoin's value per say is in US dollars, a fiat currency subject to inflation. If we remove the value based on the dollar, then is the price of Bitcoin just based on supply and demand?
I also hear people like Cathie Woods and analysts at JP Morgan say Bitcoin will reach $500k or $140k respectively. I understand for stocks you can look at financial statements and make valuation models to calculate target prices, but for Bitcoin, is the value based on the scalability of network?
The value of Bitcoin depends on stock and demands as you've said we could use anything to see it's value not just with Dollar but with any other Fiat we want or crypto we want. In Bitcoin we only have limited supply and a growing community that is why they re saying that the price could reach that high. Just think about it a limited supply and almost everyone is buying or holding it even the rich people around the world.
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sherryDEFI
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June 19, 2021, 01:27:12 AM |
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Most longer term predictions are made using some kind of metric or model. That's a vague statement, because each analyst tends to use something different.
One analyst uses a stock to flow model, and that particular one gets a lot of attention here. Another one uses a "% of total deposits into assets with similar purposes" kind of model, for example if Bitcoin envelops 5% of all stores of value like gold, bonds, real estate, etc. Some use technicals, such as extending previous price history. There are others, but I don't really pay attention to any of them.
Regardless, analysts should tell you how they derive these predictions. If they don't, you should really ignore them.
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clint25n
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June 19, 2021, 12:11:33 PM |
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Bitcoin actually has no value, it is only in the form of stocks and investments. In simple terms, Bitcoin can be imagined as a digital version of cash. In simple terms, Bitcoin can be imagined as a digital version of cash.
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swiftbits
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June 19, 2021, 02:04:21 PM |
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Bitcoin actually has no value, it is only in the form of stocks and investments. In simple terms, Bitcoin can be imagined as a digital version of cash. In simple terms, Bitcoin can be imagined as a digital version of cash.
I also see it as a digital version of cash, but there's more to Bitcoin. You can play with it to get profit, exchange for products and services, and transactions are more efficient. That's why more developer is designing something to make this technology applicable to many platforms. The scarcity and demand will give the coin more value.
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Cling18
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June 19, 2021, 03:28:10 PM |
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What is really the value of anything? Btc is not always measured in USD value, once upon a time 10,000 btc was worth 2 large pizzas, once, 3 btc were worth 25,000 business cards for me.
Its value mostly depends on the demand of most investors and that what's makes Bitcoin volatile and unpredictable. There is no definite value but based on its current status, having at least a single Bitcoin could change your life and that simply means that it's continuously improving and developing as a currency.
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hazenyc
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June 20, 2021, 04:40:12 PM |
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Bitcoin actually has no value, it is only in the form of stocks and investments. In simple terms, Bitcoin can be imagined as a digital version of cash. In simple terms, Bitcoin can be imagined as a digital version of cash.
I also see it as a digital version of cash, but there's more to Bitcoin. You can play with it to get profit, exchange for products and services, and transactions are more efficient. That's why more developer is designing something to make this technology applicable to many platforms. The scarcity and demand will give the coin more value. Is that really all you guys think of Bitcoin? Are you sure you understood what this technology is able to do already and what kind of implications that brings about for humanity as a whole? I usually don't care when somebody has no idea what Bitcoin is and what it does, but when I read the comments in this section I once more get reminded that these folks go out there and explain Bitcoin exactly the way they explain it here. If that is the case, it goes without surprise that many people think this is a scam. Sad for Bitcoin.
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fiulpro
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June 20, 2021, 04:50:51 PM |
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Noob here. Even if some places accept Bitcoin, the price is still quoted in dollars? Bitcoin's value per say is in US dollars, a fiat currency subject to inflation. If we remove the value based on the dollar, then is the price of Bitcoin just based on supply and demand?
I also hear people like Cathie Woods and analysts at JP Morgan say Bitcoin will reach $500k or $140k respectively. I understand for stocks you can look at financial statements and make valuation models to calculate target prices, but for Bitcoin, is the value based on the scalability of network?
I think the whole idea of expressing any value in terms of BTC to USD comparison is just to make people understand it better. You can see the same idea behind the gambling sites using USD in the same way, sometimes even if people are using it for a long time it is indeed difficult for them to do conversions. I think the value of bitcoins is dependent on the people and the market acceptance. At the same time I do think that the governmental authorities do play a big role in it too. The services , transactions there is a lot more to it. The Demand and Supply can be taken as a simplistic basic model but it's very complex so as how the bitcoins have successfully integrated themselves with the whole economy, making it not only more diverse but also more evolved day by day. It's much like stocks but the value depends on people, not a particular Centralized company.
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yazher
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June 20, 2021, 08:15:22 PM |
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Noob here. Even if some places accept Bitcoin, the price is still quoted in dollars? Bitcoin's value per say is in US dollars, a fiat currency subject to inflation. If we remove the value based on the dollar, then is the price of Bitcoin just based on supply and demand?
I also hear people like Cathie Woods and analysts at JP Morgan say Bitcoin will reach $500k or $140k respectively. I understand for stocks you can look at financial statements and make valuation models to calculate target prices, but for Bitcoin, is the value based on the scalability of network?
Most of the time bitcoins create some good opportunities that the past traditional banks don't have and there's a lot to explore about bitcoin. ranging from online payment to trading with the other current cryptocurrencies, bitcoins nowadays became valuable than ever before. the more people talk about it in the mainstream media the more people will get curious and it just simply means popularity. when one thing seems trend you will see lots of people valuing it with the only knowledge they got is the basic of it.
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ene1980
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June 20, 2021, 08:44:54 PM |
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I also hear people like Cathie Woods and analysts at JP Morgan say Bitcoin will reach $500k or $140k respectively. I understand for stocks you can look at financial statements and make valuation models to calculate target prices, but for Bitcoin, is the value based on the scalability of network? If the value of Bitcoin is based on scalability of the network we would not see these high valuation, it is basically demand and supply and if you look at when the market started to rally you will understand that it started once the halving took place which means the number of new coins that are available is reduced by half and in turn that created a ripple affect and there were huge investments coming in and so is the reason the price rallied.
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maxreish
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June 21, 2021, 02:14:27 AM |
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To make it easier for you to understand. There are certain exchanges that has trading pairs. For example BTC/USD (Bitcoin/US Dollar), then the value of bitcoin is automatically equal to its pair of usd. And yeah, it inflate if you are vague on that part. The value still changes depends on the market situation. And remember that bitcoin's value tend to increase as time goes by because it has a limited supply
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Xinarae*
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June 21, 2021, 03:02:38 AM |
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I think the value of bitcoin will not be based on the network if the amount of investment in bitcoin in the market is high then its value will increase a lot. Bitcoin is not stable as its price goes down it goes up if it goes up it will increase several times it will depend on the situation in the market the amount of investment is increasing due to the fall in prices and the prices are slowly rising. Invest in bitcoin and wait to see what the value of bitcoin is going to be because the market is always going up and down.
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AmoreJaz
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June 21, 2021, 03:09:01 AM |
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To make it easier for you to understand. There are certain exchanges that has trading pairs. For example BTC/USD (Bitcoin/US Dollar), then the value of bitcoin is automatically equal to its pair of usd. And yeah, it inflate if you are vague on that part. The value still changes depends on the market situation. And remember that bitcoin's value tend to increase as time goes by because it has a limited supply
he can visualise the value of btc once he actually exchange his satoshis to his local fiat currency or even in USD. and this value depends on the supply and demand in the market at that moment. so no one can really give him exact value of btc couple of months from now or few years from now. but looking at this simple moving average chart of bitcoin, you can deduce that in the next coming years, the probability of further increasing its price is very high. now, up to the user how he will strategise to take advantage of this market, and potentially reap rewards in the future.
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odolvlobo
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June 23, 2021, 03:47:31 PM |
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Bitcoin derives its value from a number of things. Perhaps the most prominent way is its scarcity and its stock to flow ratio.
Scarcity does not give something value, though it can affect the value. For example, I have a stone in my hand. It is unremarkable in every way except that it the only one like it in the world. It has the ultimate scarcity, but I don't think that it has any value. I have no problem dropping it on the ground and forgetting it. Likewise, because scarcity does not give something value, neither does stock-to-flow, though again that can affect the value. What gives something value is the desire to obtain it, interact with it, or just experience it. The most prominent sources of value that I can think of are utility and beauty. I believe that the value of Bitcoin was originally derived from its beauty (in the form of cleverness and elegance). Without value, Bitcoin has no utility, so once it established that original value, it then gained value from its utility.
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