Does Bitcoin have any real value?

[Emperor of Man]

These kinds of doubts and uncertainties kind of belonged to the year 2010 or 2011, not now. Read the forum posts back then: will bitcoin be $100 someday? Or it will fade away into nothingness because it's not "backed"?

If bitcoin doesn't have real value, then gold is a worthless yellow metal too, and USD is a cheap paper with a few printed pictures on it. Your faith is what makes all those things valuable.

[Nora Olin]

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?

Bitcoin was not favored from the beginning, but is now regarded as legal tender by some countries. The price of Bitcoin is getting higher and higher, step by step to the world. If you want to invest, now is a good opportunity, you must understand the market and stick to it.

[EewardDean]

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?

You can't consider the problem subjectively. Whether the value of Bitcoin is useful to you is your own opinion. Some people think it is very valuable. There is no reason to deny. If you think there is no value, no one will force you, but the price is now on the market. The step-by-step growth is because more and more people believe that Bitcoin is valuable. If the number of people decreases, the price will also decrease. Therefore, the value depends on the person.

[Mackenzie87]

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 understand Bitcoin's technology and its particularity, Bitcoin is indeed a virtual currency, without physical value, but people's needs are exactly where its value exists. The holders of the currency in the market trust Bitcoin, this This kind of trust is the embodiment of value.

[Dax Robinson]

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 Bitcoin has actual physical value, would you not hesitate to invest in Bitcoin? Gold is an existing physical asset, but its value cannot be compared with Bitcoin. Gold fluctuates very little, and Bitcoin is scarce like gold. People have demand for them, and this is where their value lies.

[numberslacey]

Yes bitcoin is not backed by any assets till dates either by gold or anything but yet it still has value even far more than the so called assets we all know. And this is achieved by it's acceptance by the community. The community gave it more value than coal, gold, Mercury etc.

Gold used to have the same value(even more than bitcoin) but then the government decided to make ‘a piece of note’ our currency legally because the gold coins can be forged, although fiat currency is no different in that manner. Bitcoin too has a value but again the government can decide to make another regulated digital currency legal.

[numberslacey]

There is no absolute value. It depends entirely on your psychology and your needs. If you don’t think Bitcoin itself has value or is not worth owning, or you should choose the one you know better and needs more in your heart.

I wish I could pay Starbucks’ with a copper utensil in exchange for their coffee but in this world things don't go the way we want them to. The question is not only about owning bitcoin but about its value and whether it’s more suitable for trading or investing.

[numberslacey]

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?

Your query doesn't really make sense if you think about it. What is Gold back by? I know some will say Fiat, and what is Fiat backed by? are you going to say Gold? All of them are not supposed to be backed by anything but as we all know, it is because the general consensus of Bitcoin right now is that, it has not been fully accepted or trusted by all which is the thing with Gold and Fiat because the Government made it so. So, Gold and Fiat are only backed by trust or acceptance by the people and nothing more which has not been extended to Bitcoin yet.

I think it's not only the trust because many people have already lost their trust in fiat, but then there's the government backing it up.

[kucritt]

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?

Yea bitcoin doesnt have any phsyical value, so.. bitcoin just a digital cryptocurrencirs and the price depends on demand..
Actually itd same with gold. The price depends on demand and supply.

I thimk if you doubt about bitcoin, you should check about the history and how bitcoin work, before you invest and buy bitcoin you should remove your doubt about bitcoin

[Fortify]

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?

In simple terms, no. But you could say that about any currency these days because the "gold standard" was dropped decades ago and it was quite a big failure because the real gold supply didn't give governments enough flexibility. The price that Bitcoin is trading at in any given point in time is the collective evaluation of it's worth - if lots of people go to sell, the price drops until it hits the floor of buyers who will sustain it at a certain level. It's got less interference from central banks to worry about in comparison with a fiat currency, but the value of it can be shattered at any moment through regulations put into place that could effect cryptocurrency owners in certain jurisdictions (i.e. Europe and North America). I remember just a rumor that regulators in the USA were considering action dropping the price substantially and that was driven by a single tweet.

[numberslacey]

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 am an economics graduate and there I was told that backed country's fiat is gold

and what about bitcoins? what i have to say is bitcoin is not backed by gold, fiat or shares of big companies, bitcoin is backed by the community and also the belief of many people who want to change the world and become their own bank

this is what makes bitcoin very strong and very high value

That’s the problem that most of us have only one justification for this,that is, community’s trust. If people have such a strong faith in it, then why does it falter during big events and why do people pull back their money leading to a crash in bitcoin’s price?

[numberslacey]

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 understand Bitcoin's technology and its particularity, Bitcoin is indeed a virtual currency, without physical value, but people's needs are exactly where its value exists. The holders of the currency in the market trust Bitcoin, this This kind of trust is the embodiment of value.

I agree that blockchain technology is remarkable. Even though I am sceptical about investing in bitcoin, I don’t think the technology is useless.

[Molinology]

I think bitcoin didn’t have any real value until some countries legalized bitcoins and some companies like Microsoft and Lamborghini started accepting them. And hopefully the future will be bright for bitcoin.

[IQnawaz123]

Since Bitcoin does not have any intrinsic value, its value is necessarily intersubjective, depending on how much each trader expects the rest of the market to behave.

[LUCKMCFLY]

I think bitcoin didn’t have any real value until some countries legalized bitcoins and some companies like Microsoft and Lamborghini started accepting them. And hopefully the future will be bright for bitcoin.

The subject of value is something very extensive, in fact even so for any type of professional appraiser it is difficult to be able to determine a value, it is certainly like a capital gains appraisal where it would only be valid for a maximum of 1 week, I do not think that it can be done from there a strong extension of the price is something very subjective, because everything would have to be studied from the point of view of analyzing every whale, every institution and possibly even giving an almost predictive analysis of the price.

[Obito]

I think bitcoin didn’t have any real value until some countries legalized bitcoins and some companies like Microsoft and Lamborghini started accepting them. And hopefully the future will be bright for bitcoin.

Wrong, even before the time that countries acknowledged bitcoin's existence, bitcoin already has a value and yes there's no real value behind bitcoin besides the fact that people are supporting it and even if they say so, it can't possibly go back to zero because bitcoin will have to return all the fiat that was injected into it to truly go back to that point.

[GatotKaca]

I think bitcoin didn’t have any real value until some countries legalized bitcoins and some companies like Microsoft and Lamborghini started accepting them. And hopefully the future will be bright for bitcoin.

Wrong, even before the time that countries acknowledged bitcoin's existence, bitcoin already has a value and yes there's no real value behind bitcoin besides the fact that people are supporting it and even if they say so, it can't possibly go back to zero because bitcoin will have to return all the fiat that was injected into it to truly go back to that point.

I'm not sure Bitcoin will hit such a low.
as far as people still believe, I'm sure this is good for continued storage or transactions.
the true value of bitcoin I guess based on the acknowledgment from the community. the market determines its value. and real use, I think we have to look at countries that have already legalized bitcoin as a means of payment transactions. not only as an investment asset.

[numberslacey]

I think bitcoin didn’t have any real value until some countries legalized bitcoins and some companies like Microsoft and Lamborghini started accepting them. And hopefully the future will be bright for bitcoin.

But what makes you believe that bitcoin has a bright future because we have seen that some countries have completely banned it, some are planning to regulate it or introduce a central cryptocurrency.

[numberslacey]

Since Bitcoin does not have any intrinsic value, its value is necessarily intersubjective, depending on how much each trader expects the rest of the market to behave.

Even fiat doesn’t have any intrinsic value. It’s value is set by the government which is clearly not very open to crypto.This is why there’s always a doubt when it comes to cryptocurrencies.

[witcher_sense]

Even fiat doesn’t have any intrinsic value. It’s value is set by the government which is clearly not very open to crypto.This is why there’s always a doubt when it comes to cryptocurrencies.

No government can create money by fiat, neither can any government set a value for their own currency. Fiat currency should always be backed by something, either by hard assets directly or by other fiat monies that in turn backed by those hard assets. Even if a government says that its currency is backed by "the full faith and trust in the government that issued it", it lies. No one trusts money that has no strong support in the form of hard assets. Bitcoin, on the other hand, is a hard asset itself, which means it is not necessary for it to have additional hard assets that would be backing it up. Bitcoin doesn't have value because someone said so, but because its value is observable for everybody who wishes to see it. It has certain strong characteristics and unstoppable decentralized nature that make its superiority unquestionable, especially against fiat monies whose value depends solely on hard assets like bitcoin.