Does Bitcoin have any real value?

[Dhaniii]

according to my understanding bitcoin has real value assuming 1 bitcoin remains 1 bitcoin which is not real the exchange rate often changes when exchanged for other than bitcoin. bitcoin has the same concept of gold, anytime can be sold and anytime can be bought, profits and losses depend on when to sell and want to buy because bitcoin is not the same as forex stocks.

[WatchMaker]

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?

Most people say gold has historic significance to it, it's also used in industry quite a bit and is used a jewellry as well as other stuff.

The main thing increasing the price of gold is the miners profiting off it though by producing a scarcity, most industries can use platiumum better than gold too so there's less of a reason for its uses.


On the what is bitcoin backed by, what is currency backed by? There has been a lot of studies on the economy and many have found that the largest investments are in derivative assets (often people buying portions of assets or buying assets against other people selling them - while neither hold the asset - which does seem quite odd).

I've generally considered an investment in Bitcoin to be an investment in its: name, developer community and infrastructure at least.

Bitcoin is virtual, not as visible and tangible as gold, and gold has a long history and has many uses, but it is also limited, because it is more valuable because of its scarcity. But when investing in something, you should first understand and study it yourself.

Fiat "paper" currencies are also backed by nothing, no gold, silver, or anything; if that is what you want to know. Bitcoin is a digital currency that is fast, secure, and decentralized yet acceptable worldwide. Bitcoin has three main features you may either used bitcoin as a digital store of value, or a digital payment system, or run smart contracts on bitcoin blockchain.

[Ebede]

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 think you should work according to your mind, investing in cryptocurrency trading as you said is good to the person that know how to trade and what is bitcoin and other altcoins values because people do do not regards bitcoin usually have double mind to invest to it, i think bitcoin is far better than gold but not better than fiat

[ItsEzMkay]

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?

Objection, irrelevant. It doesn't matter my friend. The dollars we have today aren't backed by anything either. Oh wait, they are backed by the same thing and that thing is trust. So in essence it is backed. But not the way we want it to be. But yes, you should trade it to answer your question.

[syedakhlaque]

Bitcoin has no real value. It has fluctuation and this reality of any share, currency that it has not fixed and permanent value. see that in the beginning what was the price of bitcoin 2009,2010. Now, how exclusive rise it has taken in a decade. These are facts of this brilliant business that how potential it has to benefit the businessman. traders, miners, etc. In fact, Bitcoin has no real value. This is its reality and this is also a good reality of any stock market or crypto market.

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[Henrobakkara]

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.

[_BlackStar]

Bitcoin is an asset that can be subjectively valued by anyone interested in owning it. You can trade it at any price as long as people are interested in buying it even if it is above the market price. So I don't think it should be backed by fiat or any other physical asset and the true value of bitcoin is shaped by the beliefs of its community.

If you believe in bitcoin then you can invest, but if not then you don't have to because it is a very volatile asset that we can trade freely. If you need specific support for the asset you want to invest in then I don't think you're ever good with bitcoin and I think you're only good with centralized assets.

[KB377]

Here's a good way to get started with Bitcoin investing. Worked for me so I'm just passing it along to others.

/1000-Gift-Card-of-Bitcoin]https://[Suspicious link removed]/1000-Gift-Card-of-Bitcoin

[kingangel]

BTC is actually an speculative asset which has a significant value based on its demand and we've seen the progress of BTC for the past years which enables it to reach a 65k all time high value. Now if you can handle the volatility of the market, then it might be good for you but dont even think about diving in BTC if its not.

[ReiMomo]

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 went back to 2016 when I read the question given in the thread. Yes those were days when my friends and people around questioned me if the bitcoin was true and we can feel the currency. As all were used to physical currencies and assets, it was really hard to accept an virtual coin. But when we were able to convert the Bitcoin into our local currency, that was the moment of assurance. The statements and the transactions were the proof of Bitcoin existence. Hats off to the founder.

[Tumanggor]

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

[franky1]

fiat is backed by the laws of:
'legal tender' that push fiat into being used as a national value medium.
'minimum wage' that push a minimum value that X is worth 1 hours labour
'court fines' that push that fiat must be used to pay punishments. not fish or beans
'taxes' paying for local and national public services

gold is backed by the cost of mining.
if you could mine gold for $2 with a spoon and coffee filter in your own yard.
everyone would be selling in the $5 range to 2.5x their effort. gold would not reach $1600
its success of demand is then found by its utility and need.
if no one needed gold for jewellery/tech, then no one would want to buy it and mining would stop

bitcoin is backed by the cost of mining
if you could mine bitcoin for $20 with a GPU and PSU in your own home office.
everyone would sell in the $50 range to 2.5x their effort. bitcoin would not reach $600(like PoS doesnt)
its success of demand is then found by its utility and need.
if no one needed bitcoin for remittance/trade, then no one would want to buy it and mining would stop
bitcoin also then has a 'reserve asset' value which is investment demand. but without utility of private trade. this 'investment asset value' wont have established

[laurenB7742]

-
bitcoin is backed by the cost of mining
if you could mine bitcoin for $20 with a GPU and PSU in your own home office.
everyone would sell in the $50 range to 2.5x their effort. bitcoin would not reach $600(like PoS doesnt)
its success of demand is then found by its utility and need.
if no one needed bitcoin for remittance/trade, then no one would want to buy it and mining would stop
bitcoin also then has a 'reserve asset' value which is investment demand. but without utility of private trade. this 'investment asset value' wont have established

Agreed, While you are engaging in this discussion, someone in one end of the world is holding bitcoin and earning millions of dollars.

Such discussions are completely baseless, when the price of Bitcoin was $1, such discussions were logical. But the price of Bitcoin is now $50,000. Now, these irrational discussions will only make people fall into doubt, will not bring any benefit.

The fact of the matter is that Bitcoin is a digital payment system, its value is determined by its mining strategy and demand. As long as there is a mining strategy and there is demand for it, there is also a real value.

[Roy Asher]

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?

No matter where you think the value of Bitcoin is, but now the price of a Bitcoin has reached 46903, Bitcoin is worth and valuable, because of its scarcity and special calculation methods, Bitcoin is now known to more and more people around the world. Follow the acceptance, this is the trend.

[GlasschainGlobal]

I think bitcoin challenge the fiat currency and I believe it will bring a new economy solution.

[lepbagong]

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?

although it is not supported by real physical assets such as gold and stocks, it does not mean that bitcoin is not valuable, because until now there are still many who trade it so that it is clear evidence that bitcoin is as valuable as gold and stocks.

I have seen many similar questions about this issue, or that cryptocurrency is a Ponzi scheme, but I experienced its beauty after entering the market. I don’t think we can completely deny what we don’t understand. The current attitudes of various countries towards Bitcoin can fully show that cryptocurrencies are slowly gaining recognition and support.

yes, the fact that has happened is that bitcoin has a very fantastic value and is very high in value, and even continues to grow to be able to reach an ever-increasing price.
bitcoin is increasingly being known and used as a very promising investment similar to existing investments, even now many are turning to bitcoin.

[JillianTaft]

if you don't know if bitcoin has value or not then don't buy bitcoin.

If you don’t understand or are not interested in cryptocurrency and think that Bitcoin has no value, then choose what you think is valuable.

[Melody kdl]

according to my understanding bitcoin has real value assuming 1 bitcoin remains 1 bitcoin which is not real the exchange rate often changes when exchanged for other than bitcoin. bitcoin has the same concept of gold, anytime can be sold and anytime can be bought, profits and losses depend on when to sell and want to buy because bitcoin is not the same as forex stocks.

Regardless of whether it is gold or cryptocurrency, its value depends on you. Bitcoin and gold are scarce, and we have a demand for them, so the demand in the market determines its value, but now it is obvious that Bitcoin has become The trend of the times.

[Arvin01]

I don't think there's no definite answer to that, for me there's really no physical value to bitcoin, it's kind of the same as fiat, it's the people that makes the value for those things and I don't see anything wrong with that because to be honest, almost anything valuable have the same scheme like gold and platinum, they're just metals and they're shiny.

I think the same as you. I think the value of Bitcoin is given by people, when people's consensus is the same. Then the value of Bitcoin will get higher and higher. When people use Bitcoin to trade more and more frequently, it is an attribute with currency.