romero121
Legendary
 Offline
Activity: 3164
Merit: 1213
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October 08, 2021, 06:02:27 PM |
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It is all about trust, because one cannot make a person feel it's value. Value of bitcoin in decimals during its existence. Later it started to grow gradually and has now marked a big change in value. This is all because of the increasing demand. If it hasn't got any real value the demand could've diminished with time rather than growing. So, real value of bitcoin can be felt by the one who believe in it.
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"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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herurist
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October 08, 2021, 06:27:12 PM |
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a question like this would be possible when we were a few years ago in the early days of bitcoin, maybe this question would be a very good one. but for now I think there is no need to question things like this.
Since many countries have legalized bitcoin, it has even become a legal tender, besides that bitcoin adoption is increasing, investor confidence has been tested when talking about it.
So, why are you still hesitating? what do you still have doubts about with the sheer amount of evidence available.
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Fredomago
Legendary
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Activity: 2968
Merit: 1050
Leading Crypto Sports Betting & Casino Platform
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October 08, 2021, 07:21:23 PM |
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It is all about trust, because one cannot make a person feel it's value. Value of bitcoin in decimals during its existence. Later it started to grow gradually and has now marked a big change in value. This is all because of the increasing demand. If it hasn't got any real value the demand could've diminished with time rather than growing. So, real value of bitcoin can be felt by the one who believe in it.
The influenced in value comes up with the people who use the system, Bitcoin as digital money is already been embrace. More now with supply and demands, the more people who invest to hold, the more pressure to push the value up. And yes, trust from those who are in this market really helps this asset. There are many players now and unlike before where everything depends most from speculation, now that there are countries and businesses who acknowledge the usages and existence of this currency, it's now a valuable asset to hold and serve as a good opportunity to invest your money. |
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Botnake
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October 08, 2021, 08:52:09 PM |
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It is all about trust, because one cannot make a person feel it's value. Value of bitcoin in decimals during its existence. Later it started to grow gradually and has now marked a big change in value. This is all because of the increasing demand. If it hasn't got any real value the demand could've diminished with time rather than growing. So, real value of bitcoin can be felt by the one who believe in it.
The influenced in value comes up with the people who use the system, Bitcoin as digital money is already been embrace. More now with supply and demands, the more people who invest to hold, the more pressure to push the value up. And yes, trust from those who are in this market really helps this asset. There are many players now and unlike before where everything depends most from speculation, now that there are countries and businesses who acknowledge the usages and existence of this currency, it's now a valuable asset to hold and serve as a good opportunity to invest your money. Bitcoin's value is clearly determined from its supply and demand. The more demand for bitcoin, the higher the value it gets. So when you see that bitcoin is very expensive today, then simply its because the demand is already huge. And nobody would last long in this crypto market knowing how volatile it is, when in the first place these crypto coins aren't no value at all. I suggest OP make your own research first so you will know how valuable bitcoin is. When you think you are not hesitant already, then start investing as soon as bitcoin price starts to drop so you can gain higher profits when bitcoin reach another all time high. |
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numberslacey (OP)
Jr. Member
Offline
Activity: 39
Merit: 2
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October 11, 2021, 06:52:01 AM |
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Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?
This issue is as old as hills. I used to think that Bitcoin is just a toy or a Ponzi scheme. But now I am getting crypto and economic education at the university, and I have completely changed my opinion. First of all, I want to ask you if Gold is backed by anything, or why do many people think that it is one of the best investment? What is more, as Bitcoin is adopted by many companies and even whole countries, it become supported by their ecnomics. I agree but it is people's obsession with gold. They love to wear it in the form of jewelleries only to flaunt it. So they are ready to pay high value for it but that's not the case with bitcoin. |
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Sir Legend
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October 11, 2021, 02:52:52 PM |
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Bitcoin is a digital asset that does not have a physical form so the value of bitcoin is very dependent on the community, as long as bitcoin is actively used by users, bitcoin will be valuable but if it is abandoned then bitcoin has no value so bitcoin has no real value.
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nira09
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October 11, 2021, 06:00:24 PM |
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Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?
True, Bitcoin is not backed by anything, because Bitcoin is backed by Bitcoin itself depending on supply and demand. Likewise with Gold backed by gold itself. I agree that Bitcoin is a valuable store of value or digital asset. so that it is feasible as an investment for the future, we can see the price of Bitcoin continues to grow from the past until now. |
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blockman
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October 11, 2021, 06:11:46 PM |
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Bitcoin is a digital asset that does not have a physical form so the value of bitcoin is very dependent on the community, as long as bitcoin is actively used by users, bitcoin will be valuable but if it is abandoned then bitcoin has no value so bitcoin has no real value.
And it's far from being abandoned by the world itself. There will be people that are going to abandon it but it's not going to be fully abandoned by everyone who believes in it. The fact that the adoption rate is increasing, that only gives the idea that bitcoin is on an unstoppable train and very unlikely to go on that path that you're situating it. |
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uneng
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October 11, 2021, 06:43:05 PM |
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Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?
If you just wonder if you want to invest or not, then don't make yourself do it. But before leaving and wondering about Bitcoin, maybe you have to take a look at what happens to this stuff, from $0 to $60k, might you also have to wonder why it goes like that if there is market value. That price will imply that it was really useful to the community. That you are right saying it was not backed by any physical asset but it was not how we measure the value of Bitcoin. And in fact, we valued Bitcoin more than Gold and Fiat money as this was very usefull in the current era. I think you have to consider that somehow. I never denied that Bitcoin doesn't have any value. I know how beneficial blockchain is proving these days. I was only looking for an answer about whether to trade or invest but pople here seem to be quite offended. Most people here are bitcoin investors and you have their experience as an example in many different threads, but the final decision of investing or not is up to you and nobody else. You are right, bitcoin isn't backed by any asset. So, aware of this fact and aware of many other risks an investment in bitcoin involves do you think you should invest or not? Does the potential returns worth the risk you will have to take? |
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BuNga_cute
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October 11, 2021, 11:44:50 PM |
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People who are hesitant to invest in Bitcoin, they are indeed lacking in knowledge. In fact, if we study Bitcoin properly, there seems to be no reason to reject Bitcoin. I, who have made big profits from Bitcoin, have no problem with Bitcoin is not backed by any physical assets. The most important thing is that Bitcoin can generate greater profits than other assets, that's the most important thing for me. I agree everyone has the freedom to decide whether to invest in Bitcoin or not, but if we don't understand how the crypto world works, I suggest not rushing to invest in Bitcoin, don't invest in something we don't understand. It would be nice if first to learn Bitcoin properly, after that we all can definitely decide what we should do. It's better to learn first the whole background of bitcoin and certainly all its basics so you won't have to question if bitcoin has its real value or not. After all your studies, then it's time you can answer your own question. If you are now convinced, then make a move. But if you are still hesitant because its not even backed by a reliable group or entity, then you're free not to invest. After all, bitcoin is only for those who understands its nature. Just come back when you think you are ready to take the risk. Actually our doubts about Bitcoin can be answered if we have knowledge about Bitcoin, there is no need to rush to invest in Bitcoin. If we invest in Bitcoin on the advice of others, then it's no wonder we will easily panic and end up losing money when investing in Bitcoin. It must be remembered that investing in Bitcoin is very high risk, so caution is needed. Actually not only when investing in Bitcoin we need knowledge to be successful, all other assets do the same. Because we will lose money if we invest in something we don't understand, so it is very natural that there are still very many rich people who refuse to invest in Bitcoin, even of them hate Bitcoin. That's actually the main reason because they don't understand Bitcoin, if they really understand Bitcoin then I believe people will have no doubts about investing in Bitcoin. |
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bct-user
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October 11, 2021, 11:53:07 PM |
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--as long as bitcoin is actively used by users, bitcoin will be valuable but if it is abandoned then bitcoin has no value so bitcoin has no real value.
Do you think Bitcoin will be abandoned? I don't see a sign that Bitcoin will be possible to leave by communities. Moreover, we can see that more top people and big companies join Bitcoin investment. Even, a country or a government like El Salvador is enthusiastic to have Bitcoin as their national asset. Is this a sign of Bitcoin be abandoned? No buddy, Bitcoin becomes stronger to exist and people will take care of Bitcoin forever. It will like they keep Gold. |
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impulse709
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October 12, 2021, 05:44:15 AM |
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Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?
I used to think that Bitcoin was just a toy or a Ponzi scheme and it would burst like a bubble then evaporate at any moment. As to what bitcoin is backed by, the currency is Supported by what? and future development , application and what is in practice But I think its value is in your mind if you consider it worthless it will be worthless and you will never Now selling it for a cheap price, but if you consider it worthless, I believe you will never spend money to buy and invest in it. |
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btc78
Full Member
Offline
Activity: 2492
Merit: 212
Eloncoin.org - Mars, here we come!
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October 12, 2021, 05:59:11 AM |
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--as long as bitcoin is actively used by users, bitcoin will be valuable but if it is abandoned then bitcoin has no value so bitcoin has no real value.
Do you think Bitcoin will be abandoned? I don't see a sign that Bitcoin will be possible to leave by communities. not in our moment now or in near future but possibilities are always there mate as we knew another one will comes out over and over again. Moreover, we can see that more top people and big companies join Bitcoin investment. Even, a country or a government like El Salvador is enthusiastic to have Bitcoin as their national asset. Is this a sign of Bitcoin be abandoned?
maybe because they are seeing the opportunity for now but tomorrow or in the days to come? who knows. No buddy, Bitcoin becomes stronger to exist and people will take care of Bitcoin forever. It will like they keep Gold.
the word FOREVER isn't acceptable , because trust me there is no such thing . everything must end and that is reality of life. |
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Mpamaegbu
Legendary
Offline
Activity: 2688
Merit: 1208
Once a man, twice a child!
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October 12, 2021, 03:09:42 PM |
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Bitcoin is not backed by any physical asset like Gold nor by any fiat currency.
In addressing the question in your thread topic – Does Bitcoin have any real value? What you're invariably asking is, "Are those who support Bitcoin really humans/sensible?" Something that was once worth less than a dollar and it's now over $50k (might get to $100k, according to bookmakers), and you're still asking if it has value or not? You're question in itself doesn't seem valid on that premises. Your comment, " It makes me wonder if I should invest/trade in Bitcoin or not?" Well, I think you shouldn't invest in what you know yet nothing about. Please, DYOR first before investing and don't be lazy about it. |
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Marvell1
Legendary
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Activity: 2408
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
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October 12, 2021, 04:33:13 PM |
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Bitcoin is not backed by anything like gold or fiat. 12 years of existence and development and currently each bitcoin is worth about 56k $ (at the time of writing this review). I think you can feel bitcoin is really valuable or not?. The value of gold or fiat depends on human supply and demand and so does bitcoin. Bitcoin demand is increasing every day, someday Bitcoin does not need support from gold and fiat, bitcoin will soon become the best alternative to gold and fiat
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Kasabus
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October 12, 2021, 11:47:11 PM |
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Bitcoin is not backed by anything like gold or fiat. 12 years of existence and development and currently each bitcoin is worth about 56k $ (at the time of writing this review). I think you can feel bitcoin is really valuable or not?. The value of gold or fiat depends on human supply and demand and so does bitcoin. Bitcoin demand is increasing every day, someday Bitcoin does not need support from gold and fiat, bitcoin will soon become the best alternative to gold and fiat
Even at the present, bitcoin is not really backed by gold and fiat. But if you will compare the price between gold and bitcoin, its vey clear that bitcoin gets the highest value. So OP how can you be so confused if bitcoin has real value? I guess you need to make a research first on the current status of bitcoin so you will be aware how valuable it is. And as its demand continue to increase, its value too will keep on surging. Bitcoin may not be seen physically like fiat and gold, but its value is definitely superior among all other assets or investments. |
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bct-user
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October 12, 2021, 11:48:04 PM |
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he word FOREVER isn't acceptable , because trust me there is no such thing . everything must end and that is reality of life.
Forever doesn't always mean never end, but can be a long time. What I am trying to describe is that Bitcoin to last a long time because more and more people are involved in Bitcoin. Moreover, the government allows them to have Bitcoin as a digital asset, this is the way that Bitcoin to be accepted in our society like Gold. Why don't if we predict it will last a long time?  |
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djangofan
Newbie
Offline
Activity: 17
Merit: 15
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October 12, 2021, 11:54:57 PM |
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Perspective: Which has more value?
1. A Fiat currency controlled by elected and non-elected persons and not backed by any asset
2. A Fiat currency controlled by elected and non-elected persons and backed by a Gold asset which is leveraged (meaning that the actual market cap is greater than the supply of the commodity times the price)
3. A digital currency not controlled by anyone, infinitely reliable due to decentralization, and backed only by its pure immutability
The answer is simple.
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amihada
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October 13, 2021, 04:22:27 AM |
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Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?
I advise you to invest in bitcoin now for me bitcoin is an asset for the future so if you don't invest now then you will regret it someday, bitcoin doesn't need support from anything like fiat or gold because basically bitcoin stands alone and without support from fiar or gold, the price of bitcoin is getting more and more expensive and bitcoin is gaining the trust of investors, so bitcoin is very suitable for investment. Now bitcoin has proven itself very worthy of being an asset for the future. |
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AakZaki
Legendary
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Activity: 2310
Merit: 1076
zknodes.org
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October 14, 2021, 10:41:19 AM |
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Bitcoin is backed by a very strong community, a community that exists all over the world.
Its value is increasing because we believe that bitcoin is a digital asset even more than gold.
The rate of increase in bitcoin every year has increased tremendously. Bitcoin is not aimed at ordinary people who do not accept bitcoin, bitcoin was created to overcome transactions that are difficult to do.
Currently bitcoin is supported by many countries and the limited supply makes bitcoin an increasingly scarce asset, because only 21 million Bitcoins are available.
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