the worth of bitcoins

[dizzleology]

i came across bitcoin yesterday. i read the wikipedia article, the bitcoin faq and whatever else popped up on

google. i was immediatly stoked. i like this idea, and think the bitcoin has a future. reading forum posts about

thoughts on this new concept all pull up the same idea "it wont work because there is nothing backing it". i thought

long and hard about this, and i think i have it figured out.

first, an insight on currency in general. buying with currency, is glorified bartering. we used to like someones

cow, and trade two of our goats for it. to each of us, this was fair, and we each walked away with our new animals.

then the government stepped in and decided they deserved a cut of all transactions "to help pay for improvements to

the area they governed" to bring more people to their area, and make more money. they decided to use precious metals

as a base. it was in limited supply and caled valuable(maybe because it was shiny).

trading stuff for gold was the new "bartering". but people wouldnt wanna carry around a large amount of rock, so a

paper symbol was created to carry around called the dollar bill.

so now, we dont trade our two goats for that cow, we trade a symbol of the gold that the cow is worth. its bartering

with a tax

many people coorelate gold as the base of our currency, but thats very wrong. gold is only the base of the "value"

of the currency. the more money that gets printed, the more all money loses value.

bitcoin is not the currency. bitcoin is the gold. its currency is all currency. this could take us back to the roots

of bartering.  you can trade anything for bits. services, goods, any national currency, or anything else that could

be bought or sold with any bartering catalyst.

but whats keeping the bits in check? itself. they are slowly releasing bitcoins until 2017, at which time, there

will be 21 million bits in existance. thats the cap. no more will be inserted into the bitcoin economy. from then

on, the only fluxuation will be supply and demand. no inflation, no deficit, and no tampering. gold and bits will have the same limits of finite numbers

depending on the public acceptance, a cheeseburger could cost 10 bits or 1000 bits. my dream is for the

bitcoin to be in high enough demand to be the "credits" we see in sci fi movies. unregulated, and international.

ribuck from freedom radio said so much with one sentence:
In a free world, we need to learn how to evaluate the value of something to us, and learn to stop expecting others

to assign (and guarantee) a value to it.

bitcoins has a lot of potential, the way it reaches its potential is to prove to daily vendors that bitcoins will always have a value.

[hazek]

These type of posts are really really frequent so forgive me but I didn't read past the 3rd row.


It's really simple. BitCoins are backed by the trust people have in the technology behind it and they are worth what ever the supply and demand determines.

Anything passed that is just semantics.

[kang.reus]

The value of bitcoin is currently high and expensive different from the previous year because at this time bitcoin is becoming an attraction in various parts of the world because this bitcoin is a very good place to invest and search for profitable and promising assets.

[soulripper]

Bitcoin is one of the many cryptography that became popular among traders. One of the reasons for getting the price is that it is used as a medium of exchange solely because of the government's order. In addition, it is also unlike the gold or dollar bills, although cryptocurrency can not be seen thus making some people feel unsafe. However, bitcoin is actually more secure and safe than the fiat currency once you understand the mechanism behind it.

[matthewoz101]

History repeats itself. For example, in your post, you brought up gold. The same thing can happen with BTC.

When major businesses start accepting BTC, without a pegged USD price, that's when BTC will be worth more than fiat. That day seems like it's years and years away, but keep a watch out for related news to that goal. Then you will know it's time to buy.

[Dasinc]

The development of technologies always follows a well-known curve of their adoption, which includes a period of exponential growth. And Bitcoin is no exception. The fundamental difference is that Ponzi and pyramid schemes create value only for the oldest investors by simply redistributing money from new participants. No economic component. Just plain theft.
Bitcoin also creates value for both earlier investors and new ones, providing more and more opportunities to use the currency, the amount of which, moreover, is limited. It is not a deception or theft, but simply the good old law of supply-demand in action, or in other words, the ancient economic principle, in the service of the modern monetary system. 

[naughty1]

i'm sorry but we are very much well known about this knid of information.

Instead of talking about your underperformance in this topic, you should find out more information. I bet you did not even read the OP's post. A bad member

[cryptostardom]

The worth of Bitcoin depends on the market price and capitalization. However, these factors are dependent on the value and demand of the coin at any moment in time. so based on these factors we can say Bitcoin has a lot  worth and holders consider it their assets.

[MMS2017]

Beside all crypto if we concentrate on bitcoin then it is the wise decision and for us all crypto are a good income source and bitcoin is the key for the good future while many businesses are connected with blockchain technology and promoted E Business.

[bce]

The value of bitcoin is currently high and expensive different from the previous year because at this time bitcoin is becoming an attraction in various parts of the world because this bitcoin is a very good place to invest and search for profitable and promising assets.

It is very appropriate for you to believe and believe in bitcoin because what is needed is the confidence and patience to gain success

[Amafunkiest]

It's well know among crypto traders and it's a government  approved  form of exchange

[aezotxmb]

Bitcoin may be more valuable gold, which will be a trend of future development, relative to gold bitcoin has too many advantages.

[Marlo Stanfield]

i'm sorry but we are very much well known about this knid of information.

Look at the date it was posted. It was posted 7 years ago. At that point it was still pretty niche.

I don't know why this post was chosen to be bumped. But it's interesting to see after all these years I guess.

[Bulljcak]

The worth of bitcoins are the same as money's worth to people. Bitcoins are like the money we have, which is used to buy what we needed and pay the bills.

Being a member of this known business,bitcoin is worthy and valuable compared to other crypto.It uses a lot of payment.Dedication and diligent on this is much needed.

[Kakmakr]

I sometimes wonder how many of these enthusiastic newcomers bought some bitcoins back then and how many of them became millionaires because they did that? Do they get exited, but they do not pull the trigger or do they follow through and buy some bitcoins? 

When I started out with Bitcoin a few years ago, it almost took over my life for a while and I spend weeks trying to gather as much knowledge as possible and buying as much coins as I could afford. I hope, other people will follow the same route. 

[Odlanyer]

This cryptocurrency is very appreciable because not only to me but for all of the people who used and know bitcoin its very useful to use that gave to me an extra financial beside of that bitcoin will help them to buy what we needed and pay the bills.

[lildaphen]

7 years later and bitcoin is worth more than $6000 wow

[ambisyon]

Bitcoin had made an achievement that no one had ever expected it will worth more than $6K USD in the current market and with the ATH last Q4 of 2017 where it had reached the highest ever value for a cryptocurrency to reached almost $20K USD. It's the people's trust and support why it's price value had able to achieved such great heights wherein more and more people were still supporting bitcoin.

[Hellokitty09]

bitcoin is a very place for us to invest in finding profitable assets for us because the value of bitcoin is now very high than in the previous year

Bitcoin is the pilot coin. This is a fact. At this moment, all other coins are easily affected by changes in bitcoin price. However, we can't say if bitcoin will still be the best coin in the future. There are still other underestimated coins but their shine is still far to see from today but is not impossible.

[Cofuchu]

The value of a single Btcoin is currently $7600. You can guess by its value what influence Bitcoin has on the cryptocurrency market. Bitcoin is the undisputed king of crypto. And i a predicting that it will remain as king for a very long time.