What makes Bitcoins valuable?

[larry_vw_1955]

Now, many people are waiting to see whether BTC's New ATH will be born and whether it will surpass the previous US$69,000 towards the end of 2024 and 2025 after the correction 2 days ago because some people the price is already very low and time for a reversal.

yeah i mean if it can't make it past $69,000 and stay above that then how is it ever going to get to $1million? it needs to become more useful. more use case. otherwise i don't see how it would ever be worth $1million unless inflation made it artificially worth that.

if inflation is what makes bitcoin be worth more then it's not really worth more.

[1714991738]

1714991738

[blckhawk]

yeah i mean if it can't make it past $69,000 and stay above that then how is it ever going to get to $1million? it needs to become more useful. more use case. otherwise i don't see how it would ever be worth $1million unless inflation made it artificially worth that.

if inflation is what makes bitcoin be worth more then it's not really worth more.

It's not really a matter of usefulness as a measure whether bitcoin can reach a million, bitcoin is a blue chip crypto so it don't matter whether if other crypto have more use case because many people will be seeking bitcoin compared to other crypto and given the scarce nature of bitcoin I am sure that as the adoption of bitcoin continues to spread globally, we would see more people that would want to have a piece of bitcoin to their name, we always think that because it's been more than a decade now that bitcoin has reached it's peak in terms of their reach in the population but no because there are still people out there that still don't even know about bitcoin yet.

[Rabata]

there are many blockchains.. many have PRICES but when it comes to an underlying value. people dont know the difference of price vs value or what one blockchain offers that the other does not.

the truth is there is a underling cost to PoW and this is the base wholesale that backs the underlying value that sets the bottom no one wants to go below.. this economic value is atleast $20k right now

maybe no one "wants" to go below $20k but that doesn't mean it can't happen. the market decides if that happens. the only control miners have is turning on or off the power button on their rigs...

This pressure is unavoidable and makes the Bitcoin price potentially depressed, especially since miners are pressured by the high operational costs of mining production and tend to sell to cover the losses they experienced before.

Now, many people are waiting to see whether BTC's New ATH will be born and whether it will surpass the previous US$69,000 towards the end of 2024 and 2025 after the correction 2 days ago because some people the price is already very low and time for a reversal.

If miners suffer there is also an impact on the price of Bitcoin. But after a long bearish trend normally bullish movement started. In that continuation we can expect to see a new Bitcoin bull run as well as a new all time high very soon. Times are very positive for Bitcoin hoarders and we will see that bullish movement in Bitcoin again in the next year. It may take a little longer than expected but it is certain that Bitcoin will get the new ATH once again.

[worle1bm]

The actual value comes from the demand factors which will make it worth something and it will further be dependent on what's the usage so as long as until people feel it's beneficial for them and keep on using it the value will be derived from it otherwise if we say about future anything is possible.But for miners if we say about future rewards then fees will be enough to cover the cost depending on high prices at that time although we can have more possible solutions for it.

[Dianacruze]

Bitcoin stems value from scarcity and the decentralized Blockchain ensures security and trust in a borderless digital currency world.

[Reatim]

Today BTC is becoming more stable then dollar

How So? the word "MORE STABLE" does bitcoin come to stagnant at exact price for at least an  hour?  because Bitcoin does not lol.
if you can give at least some reason then maybe we will accept your facts here.

if bitcoin doesn't go to zero, maybe the inflating us dollar would cause that to happen but still I'd say your statement is not necessarily 100% guaranteed to happen. maybe 90%. but there's that chance that it never happens. people shouldn't just automatically assume they should go get a loan and dump all of it into btc hoping it goes past that ATH. and then sit there for years waiting while they're paying 20% interest to the bank...

that's a valid point. i'd also add that the only thing that really gives bitcoin any value is the people that use it. if something better came along and yes many projects have and haven't displaced bitcoin yet but if that did happen then bitcoin becoming "#2" would be a big blow to it.

number 2 in what sense? not sure what are you trying to impose here but there is no comparison for these 2.

[ancafe]

2. Bitcoin is decentralized
One of the reasons Bitcoin holds value, and should always hold value, is because there is no single government that can get involved and print more BTC or mess with it’s price.

This is the most interesting point about the advantages of bitcoin from one of the other advantages because it already has a fixed amount and no one can print more. So that bitcoin will have value in the long term and in the short term and can also be the best asset ever.

4. Bitcoin is anonymous
Nobody wants anyone looking into their finances. Your finances are your business. Bitcoin is anonymous, meaning although Coinbase might know who you are, they don’t know why you made the transaction.

Pseudo anonymity depends on how you use it and when it is centralized exchange engagement you are using then full anonymity is no longer the basis. Because it can still be tracked even if you don't know the reason for the transaction, but compared to existing systems it can be said that the anonymity of bitcoin is much better.

[Bebe22]

In addition to what OP has said;

As more people use Bitcoin and accept it as a form of payment, its value increases. The larger the network effect, the more valuable Bitcoin becomes. This network effect fosters confidence and further adoption, leading to increased liquidity and perceived value.

Similar to gold or other precious metals, Bitcoin can act as a hedge against inflation and economic uncertainties. Its limited supply and decentralized nature make it an attractive option for those seeking a more stable long-term investment as it enhances trust and perceived value of Bitcoin.

It's important to note that the value of Bitcoin is also influenced by market dynamics, investor sentiment, technological developments, and regulatory factors.

[Peanutswar]

People who sees the potential of the bitcoin usually use those in effective way, being transparent, decentralized and secured makes the bitcoin more valuable also the demand of it peoples sees the Bitcoin as one of the good investment opportunity. 
But again there's a possible market manipulation due to large investor already makes their position but if you take a plan already what are your actions you can easily manage those volatility.

[Gun Boat]

2. Bitcoin is decentralized
One of the reasons Bitcoin holds value, and should always hold value, is because there is no single government that can get involved and print more BTC or mess with it’s price.
(....)

Among the list, I most agree here because Bitcoin is a decentralized currency which means no one can control it even the government or any institutions, that's how Bitcoin is being unique.
And it is also attractive to investors because of being decentralized, which can lead to no manipulation will happen and Bitcoin will be more transparent, just like when you are using it in your daily life as a payment method.

Bitcoin is eventually a digital store of value because ;

1.Bitcoin is decentralized
Bitcoin is not concentrated on just an organization or company ,it doesn't necessarily need any rules to be guided with.

2.Bitcoin is secure
It is very safe buying and selling Bitcoin ,even for investments one's profit is guaranteed and sure .

3.Bitcoin has limited supply
Bitcoin in it's scarcity adds value to itself.

[RewFrew]

1. Bitcoin is scarce
Scarcity leads to value. Bitcoins are scarce. Bitcoins will always remain scarce because only 21 million will ever exist.

3. Bitcoin has become accepted as a store of value
Most individuals believe gold is a store of value. When Warren Buffet says gold has intrinsic value, he means the asset itself is valuable.

El Salvador made Bitcoin legal tender. Nations back up their native currency with gold, silver, or other precious metals. El Salvador backs up their currency with Bitcoin.

Keep reading→ https://n2g.io/a002890

Your provided information is absolutely right. For this your provided Bitcoin being valuable i am agree with you. I also think Bitcoin is very secure and It's quantity is limited only 21m. And it is fully decentralized. And day by day Bitcoin accepting many store and hospital, air company. Even many country also accepting bitcoin. Like El Salvador is big example for it. Overall day by day it’s usability increasing there has no doubt. And Bitcoins transaction completing through Blockchain technology. We know blockchain technology is best and most secure technology in the world. So i think for this Bitcoin being valuable day by day.

[bayu7adi]

Bitcoin is eventually a digital store of value because ;

1.Bitcoin is decentralized
Bitcoin is not concentrated on just an organization or company ,it doesn't necessarily need any rules to be guided with.

Some folks see this as a plus, while others mark it as a drawback of Bitcoin. Its decentralized nature clashes with the current governance systems, which tend to lean towards centralization. A significant chunk of government transactions still prefer being under the reins of specific entities for particular agendas. Being overly transparent might not align with their interests, so the decentralization actually ruffles the feathers of governmental authority.

Yet, transparency is a hit with the general public. The government's performance could be directly monitored, and the populace gets a factual grip on what's truly unfolding.

Bitcoin ushers in this decentralized concept that's a fan favorite, yet a government foe. It's a duality with both positive and negative ripples. Acknowledging that governments are more inclined to green-light systems not straying too far from centralization.

[ChiBitCTy]

What makes bitcoin most valuable to me is what it does versus fiat currency.  As a financial advisor I've come to absolutely despise the banking industry (most particularly big banks like Chase/Bank of America/Wells Fargo etc).  I saw how corrupt they were first hand so when I found out about bitcoin and it's decentralized nature, I instantly become extremely intrigued. 

This is why I think we need to push harder for using bitcoin as a means of payment.

[Mr.suevie]

What makes bitcoin most valuable to me is what it does versus fiat currency.  As a financial advisor I've come to absolutely despise the banking industry (most particularly big banks like Chase/Bank of America/Wells Fargo etc).  I saw how corrupt they were first hand so when I found out about bitcoin and it's decentralized nature, I instantly become extremely intrigued. 

This is why I think we need to push harder for using bitcoin as a means of payment.

I think with the current failure on people relying on banks is also given bitcoin a massive edge over the centralised system and everyday people are now exposed to the fact that banks are a big fucks and the best way to go about your financial stability and situation is actually reliable on a system where everything is decentralised which paints the use of BTC in the picture.

I could imagine what happened in nation few months back when the CBN bank actually announced the creation and immediate use of the particulars new currency which was very little in circulation. And it was enforced on all the other financial banks to actually stop using the old note which  cause a nation wide problem because people were restricted on the usage of their own money in the banks because of the massive crowd present there to actually change their currency and  there also major restrictions on the amount of cash you could get off the bank a day which rather absurd if you ask me.

[Smack That Ace]

What makes bitcoin most valuable to me is what it does versus fiat currency.  As a financial advisor I've come to absolutely despise the banking industry (most particularly big banks like Chase/Bank of America/Wells Fargo etc).  I saw how corrupt they were first hand so when I found out about bitcoin and it's decentralized nature, I instantly become extremely intrigued. 

This is why I think we need to push harder for using bitcoin as a means of payment.

I think that is also the reason for Satoshi to create bitcoin to partially replace banking. But the biggest problem bitcoin is having is that it is not considered a currency and it is considered an investment from day one. I will not lie, I am an investor in bitcoin and the purpose is for me to make a profit from it. And others are like me, so it will be difficult to turn bitcoins into currency or means of payment. Most people just like to accumulate bitcoin, sell high and buy low, very few people want to use it for daily spending. Honestly, that's the barrier that makes bitcoin a currency.

[CageMabok]

Bitcoin's value is primarily affected by macroeconomic trends, market ups & downs, regulatory developments, and other external factors. As with any investment or financial asset, its value can be subject to volatility and fluctuations.

Indeed there is some influence for the price of Bitcoin and I do not consider it a value because regardless of the price of Bitcoin, in my eyes Bitcoin still has value. And I think the influence that you mentioned is the effect on the price of Bitcoin itself, because all of that involves Bitcoin holders which can trigger sudden panic. Even though not everyone can immediately panic when all these events occur, because as long as there are still many who like Bitcoin, the price will definitely recover after all these events are over.

[samuraijin]

This is just my speculation, most likely due to the Bitcoin mining factor which is getting more and more difficult, and the Bitcoin population is almost all over the world, even nearly 80% of Bitcoin miners have difficulty buying mining equipment which is increasingly expensive. not to mention the Bitcoin that is held by someone who has been abandoned by the owner, because he died without his family knowing about it, of course the Bitcoin will just be buried, and in the end the bitcoin is stored in his wallet, this is what I think the more years will be more and more Bitcoin is expensive in the eyes of investors and miners, not to mention that several mining companies in every country are so big that they are even competing to get so many Bitcoins and the demand is large enough to push Bitcoin to become bigger, of course this will make it difficult for the lower classes.

[Solokan]

Adding on top of what OP has already said, for me if compared to the nearest asset known to us (gold) is bitcoin is more accessible to more users , which means its potential to grow is infinite as opposed to gold which is  available to a few and at times needs so much paperwork to obtain...so basically speaking it has the demand and easy to own.

Another reason I see Bitcoin being valuable is we have moved into a digital age and people are more attracted to having bitcoin as opposed to physical assets or fiat and to  some extent gives you better security and control.

bitcoin is indeed very valuable because bitcoin supply is limited.

Agree this should be the ace in the hand, and with demand  in the equation Bitcoin is destined to be the most valuable  asset known to man

Indeed, now is the digital era, so there are definitely a lot of people interested in adopting bitcoin, but that doesn't mean that investing in BTC isn't risky, because what I know is that most people dare to invest in gold because they see the potential for gold for the future and the risk is not too high. whereas investing in btc is very high risk, even though investing in btc has the potential to get large returns.

but I personally see that bitcoin and gold are very valuable assets and very difficult to separate.

[AicecreaME]

Bitcoin for is valuable because it exceeded my expectations.

Comparing it to fiat is the easiest way to explain why it is so much valuable than any kind of currency we have in this world. A lot of problems we are experiencing in fiat since it was made. It is forever gonna be prone to inflation which isn't a good thing for everyone, while Bitcoin doesn't care about inflation to be honest, that's why I love hodling it unlike fiat.

[Blitzboy]

This is just my speculation, most likely due to the Bitcoin mining factor which is getting more and more difficult, and the Bitcoin population is almost all over the world, even nearly 80% of Bitcoin miners have difficulty buying mining equipment which is increasingly expensive. not to mention the Bitcoin that is held by someone who has been abandoned by the owner, because he died without his family knowing about it, of course the Bitcoin will just be buried, and in the end the bitcoin is stored in his wallet, this is what I think the more years will be more and more Bitcoin is expensive in the eyes of investors and miners, not to mention that several mining companies in every country are so big that they are even competing to get so many Bitcoins and the demand is large enough to push Bitcoin to become bigger, of course this will make it difficult for the lower classes.

You make an excellent point regarding how mining Bitcoin is becoming more and more complex, making it unaffordable for the typical individual. That isnt the whole tale, though. An innate mechanism to maintain the scarcity and value of Bitcoin is the rise in mining difficulty and equipment costs! Its intended effect is deflation.

People losing their keys or passing away and not being able to access their Bitcoin wallets? Tragic, indeed, but also one more factor in the coin's limited supply. This is not some apocalyptic fiction; this is how economics works: value is determined by scarcity. Understanding the fundamental mechanics that set Bitcoin apart from other asset classes is more important than simply keeping an eye on investors or mining businesses. For the lower classes, things will undoubtedly get harder, but thats the truth of every successful endeavor