kingkedi (OP)
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October 24, 2014, 06:00:38 AM |
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hello i ahve doubt i.e bitcoins are distributed freely for mining
so my doubt is bitcoins are really moving based on real money i.e
suppose in first say example 1000 people have bitcoins i.e distributed using mining
so for these people how the value of bitcoin paid i.e is this money paid by later investors?
i.e my main doubt is bitcoin has real money and why for mining giving bitcoins and how it useful to bitcoin
or is this all just another virtual scam?
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ABitNut
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October 24, 2014, 06:10:36 AM |
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hello i ahve doubt i.e bitcoins are distributed freely for mining
so my doubt is bitcoins are really moving based on real money i.e
suppose in first say example 1000 people have bitcoins i.e distributed using mining
so for these people how the value of bitcoin paid i.e is this money paid by later investors?
i.e my main doubt is bitcoin has real money and why for mining giving bitcoins and how it useful to bitcoin
or is this all just another virtual scam?
I will be the mean guy here and tell you to search for the answers yourself. These questions are being asked over and over again when the answers are easily found. Please.
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foxkyu
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October 24, 2014, 06:25:19 AM |
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hello i ahve doubt i.e bitcoins are distributed freely for mining
so my doubt is bitcoins are really moving based on real money i.e
suppose in first say example 1000 people have bitcoins i.e distributed using mining
so for these people how the value of bitcoin paid i.e is this money paid by later investors?
i.e my main doubt is bitcoin has real money and why for mining giving bitcoins and how it useful to bitcoin
or is this all just another virtual scam?
if you can read, please discover in this forum there is a lot of answer of your question
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Q7
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October 24, 2014, 06:34:51 AM |
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The reason why bitcoin has value is because there are people like us who determine its value. Ask yourself how much are you willing to pay for that amount of btc. The value is our level of acceptance which is giving it value
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remotemass
Legendary
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Activity: 1122
Merit: 1017
ASMR El Salvador
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October 24, 2014, 06:39:27 AM |
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Bitcoins enter circulation as rewards/payments for mining. There is always a limited amount of BTC in circulation so by simple law of Supply and Demand there will be a market value for each BTC. Do you understand how exchanges work? The value of BTC is not a moral or subjective value, that is it is not the value you think bitcoins have but rather is is a purely market value.
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{ Imagine a sequence of bits generated from the first decimal place of the square roots of whole integers that are irrational numbers. If the decimal falls between 0 and 5, it's considered bit 0, and if it falls between 5 and 10, it's considered bit 1. This sequence from a simple integer count of contiguous irrationals and their logical decimal expansion of the first decimal place is called the 'main irrational stream.' Our goal is to design a physical and optical computing system system that can detect when this stream starts matching a specific pattern of a given size of bits. bitcointalk.org/index.php?topic=166760.0 } Satoshi did use a friend class in C++ and put a comment on the code saying: "This is why people hate C++".
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kingkedi (OP)
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October 24, 2014, 06:42:30 AM |
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ok, and i appreciate your answers but before giving advice you need to know one thing
all the answers there are only understandbale for high level users
and for a newbie those are not understandable and you need to know
see in world,answering for question means answering in a way that a newbie also should understnad but several people speak crypto language saying this and that all things who knows those all how can newbie understood i am still saying frankly how this ming works and what need of paying for mining?
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hayabusa911
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October 24, 2014, 06:56:07 AM |
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ok, and i appreciate your answers but before giving advice you need to know one thing
all the answers there are only understandbale for high level users
and for a newbie those are not understandable and you need to know
see in world,answering for question means answering in a way that a newbie also should understnad but several people speak crypto language saying this and that all things who knows those all how can newbie understood i am still saying frankly how this ming works and what need of paying for mining?
Just keep reading. Spend some time on here and you will learn more and more as time goes by.
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madken7777
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October 24, 2014, 07:09:04 AM |
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Bitcoin value is derived from demand alone.
And demand from bitcoin derived from the protocal, which can be easily copied; and network effect.
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zoukenn
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October 24, 2014, 06:10:34 PM |
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Now I can give you this answer: Yes. But in the past, when price was increased up to 1000$, price was highly manipulated from much people. So, mainly problem of bitcoin is speculation, but: Bitcoin value is derived from demand alone.
And demand from bitcoin derived from the protocal, which can be easily copied; and network effect.
Here this is the perfect answer for x price.
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bitsmichel
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October 24, 2014, 06:29:17 PM |
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i.e my main doubt is bitcoin has real money and why for mining giving bitcoins and how it useful to bitcoin or is this all just another virtual scam?
Bitcoin is a decentralized network and someone needs to decide if a payment transaction is correct or not correct. No central authority verifies the transactions, miners do this. To understand the technology completely read the bitcoin paper. The bitcoin network is used as a transfer of virtual currency.
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notlist3d
Legendary
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Activity: 1456
Merit: 1000
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October 24, 2014, 07:23:59 PM |
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hello i ahve doubt i.e bitcoins are distributed freely for mining
so my doubt is bitcoins are really moving based on real money i.e
suppose in first say example 1000 people have bitcoins i.e distributed using mining
so for these people how the value of bitcoin paid i.e is this money paid by later investors?
i.e my main doubt is bitcoin has real money and why for mining giving bitcoins and how it useful to bitcoin
or is this all just another virtual scam?
You will need to read more. And specifically good features it offers people. It holds value of what people will pay for it. It is like many things like gold, diamonds, etc. What someone will pay is what it is worth. That price goes up and down.
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alistar
Newbie
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Activity: 42
Merit: 0
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October 24, 2014, 07:24:59 PM |
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i thought it had value ever since the 1st pizza transaction.
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waser12
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October 25, 2014, 12:44:12 PM |
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its because people like us that the bitcoin has value, more people buying bitcoins more it will grow, so yes it has a real value.
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jjacob
Legendary
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Activity: 1554
Merit: 1026
★Nitrogensports.eu★
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October 25, 2014, 01:31:15 PM |
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hello i ahve doubt i.e bitcoins are distributed freely for mining
so my doubt is bitcoins are really moving based on real money i.e
suppose in first say example 1000 people have bitcoins i.e distributed using mining
so for these people how the value of bitcoin paid i.e is this money paid by later investors?
i.e my main doubt is bitcoin has real money and why for mining giving bitcoins and how it useful to bitcoin
or is this all just another virtual scam?
Look at the number of establishments accepting bitcoins today. It sure is real money to them.
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szmarco
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October 25, 2014, 01:43:16 PM |
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I will pay 300+ USD for a bitcoin. So you tell me weather it have real value.
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fathur01
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October 25, 2014, 01:45:53 PM |
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I will pay 300+ USD for a bitcoin. So you tell me weather it have real value.
Would you still say that if the price on the 4 major exchanges crashed to $100 and stayed there for 2 years? Ill keep you in mind if that ever happens
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Chemistry1988
Legendary
Offline
Activity: 1120
Merit: 1000
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October 25, 2014, 01:48:20 PM |
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hello i ahve doubt i.e bitcoins are distributed freely for mining
so my doubt is bitcoins are really moving based on real money i.e
suppose in first say example 1000 people have bitcoins i.e distributed using mining
so for these people how the value of bitcoin paid i.e is this money paid by later investors?
i.e my main doubt is bitcoin has real money and why for mining giving bitcoins and how it useful to bitcoin
or is this all just another virtual scam?
It seems to me you completely don't understand how mining works at all. You should spend a few minutes reading http://www.coindesk.com/information/how-bitcoin-mining-works/ and https://en.bitcoin.it/wiki/Mining.
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Sunderland
Sr. Member
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Activity: 1477
Merit: 381
To Be Or Not To Be
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October 25, 2014, 02:05:41 PM |
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Its not virtual scam , but for other altcoins yes some of them is only scam coins. The more people buy and use Bitcoin , value will go up and when bitcoin finally ended for mining value will go high again. But still that need more people buy and use bitcoin in this world.
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back to work
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aronnov
Member
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Activity: 89
Merit: 10
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October 25, 2014, 05:52:15 PM |
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as digital currency, of course, have a bitcoin exchange rate against the US dollar, for the current price of bitcoin exchange declined against the US dollar, it is influenced by the presence of massive sales and the dollar value of the bitcoin amerikan are now being tended to decrease ...
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JeffDeChesare
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October 25, 2014, 06:00:57 PM |
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There's nothing distributed they are working for it. You have half information there you should read more about it.
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