is bitcoin having real value?

[Wusolini]

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?

Bitcoin is a very same scam as fiat curreny is. Both isn't covered by anything, only people trust and mining is just brilliant way to solve bitcoin "money" supply.
You cant make them out of thin air, like banks do with money and cant throw them in place all at once, then only few first people would became BTC owners.

[malzahar]

if it didnt have value in the 1st place, i think bitcoin would have been more in the dark.

[jjacob]

Bitcoin is a very same scam as fiat curreny is. Both isn't covered by anything, only people trust and mining is just brilliant way to solve bitcoin "money" supply.
You cant make them out of thin air, like banks do with money and cant throw them in place all at once, then only few first people would became BTC owners.

The only difference right now is that taxes have to be paid in fiat.
Once bitcoin becomes established in international trade, even that might go.

[Pierre11]

Bitcoin is a very same scam as fiat curreny is. Both isn't covered by anything, only people trust and mining is just brilliant way to solve bitcoin "money" supply.
You cant make them out of thin air, like banks do with money and cant throw them in place all at once, then only few first people would became BTC owners.

The only difference right now is that taxes have to be paid in fiat.
Once bitcoin becomes established in international trade, even that might go.

Why pay taxes on bitcoin I don't get the point if it can't be traced.

[Wusolini]

Bitcoin is a very same scam as fiat curreny is. Both isn't covered by anything, only people trust and mining is just brilliant way to solve bitcoin "money" supply.
You cant make them out of thin air, like banks do with money and cant throw them in place all at once, then only few first people would became BTC owners.

The only difference right now is that taxes have to be paid in fiat.
Once bitcoin becomes established in international trade, even that might go.

Why pay taxes on bitcoin I don't get the point if it can't be traced.

Probably refers to official bitcoin business.
Whenever you made a profit (no matter how) you have to pay taxes. And most of bitcoin businesses are connected to fiat, so there is the trap.
Only in case you never turn your btc into fiat you are free of tax (in theory), but being a big fish you are screwed anyway.
From law point of view, bitcoins are also considered as possession (property, estate), and you cant obtain possessions without paying a proper tax. 

 

[Simon8x]

Why do people take a fiat banknote and provide you a service?
Because they trust the government and the country that value of that banknote will stay pretty stable.

Similarly people take bitcoin because they trust the decentralized system.

[Simon8x]

Bitcoin is a very same scam as fiat curreny is. Both isn't covered by anything, only people trust and mining is just brilliant way to solve bitcoin "money" supply.
You cant make them out of thin air, like banks do with money and cant throw them in place all at once, then only few first people would became BTC owners.

The only difference right now is that taxes have to be paid in fiat.
Once bitcoin becomes established in international trade, even that might go.

Why pay taxes on bitcoin I don't get the point if it can't be traced.

Probably refers to official bitcoin business.
Whenever you made a profit (no matter how) you have to pay taxes. And most of bitcoin businesses are connected to fiat, so there is the trap.
Only in case you never turn your btc into fiat you are free of tax (in theory), but being a big fish you are screwed anyway.
From law point of view, bitcoins are also considered as possession (property, estate), and you cant obtain possessions without paying a proper tax.  

What if the businesses take bitcoin through Bitpay or Coinbase? The sales should be logged and can be traced by the authority easily.
Are the businesses just pay tax like they have done business in fiat? After all, they receive fiat from Bitpay or Coinbase after the sales.

[shanem]

Bitcoin is still undervalued.
When most people on the street accepts bitcoin, the price will then go to the moon.
Buy your bitcoins now while they are still cheap.

[calchuchesta]

There's nothing free, they are putting great energy into mining (paying big electricity bills for it)
And yes you have value, the value people want to pay for it.

[Wusolini]

Bitcoin is a very same scam as fiat curreny is. Both isn't covered by anything, only people trust and mining is just brilliant way to solve bitcoin "money" supply.
You cant make them out of thin air, like banks do with money and cant throw them in place all at once, then only few first people would became BTC owners.

The only difference right now is that taxes have to be paid in fiat.
Once bitcoin becomes established in international trade, even that might go.

Why pay taxes on bitcoin I don't get the point if it can't be traced.

Probably refers to official bitcoin business.
Whenever you made a profit (no matter how) you have to pay taxes. And most of bitcoin businesses are connected to fiat, so there is the trap.
Only in case you never turn your btc into fiat you are free of tax (in theory), but being a big fish you are screwed anyway.
From law point of view, bitcoins are also considered as possession (property, estate), and you cant obtain possessions without paying a proper tax.  

What if the businesses take bitcoin through Bitpay or Coinbase? The sales should be logged and can be traced by the authority easily.
Are the businesses just pay tax like they have done business in fiat? After all, they receive fiat from Bitpay or Coinbase after the sales.

Correct, whenever prove (reveal) the identity, can be easily traced.
I have no bitcoin business (running just regular) and only assuming ... bitcoins can be, and are considered as assets so at the end of tax year you have to inform the respective institute and pay proper tax.
Whoever not doing, may result in penalty ... just my opinion

[BitSense]

One day some people in the past did use seashelves as monney

[arieq]

Bitcoin is still undervalued.
When most people on the street accepts bitcoin, the price will then go to the moon.
Buy your bitcoins now while they are still cheap.

If bitcoin limits itself just as a money-exchange mechanism, then you have better alternatives (faster, cheaper etc., Ripple is one of the examples). Bitcoin should have value also as store of value.

[virtualx]

hello i ahve doubt i.e bitcoins are distributed freely for mining

Mining costs a lot of money: electricity costs, hardware costs and so on.  The difficulty is rising, you will need to buy new hardware every so often. This is anything but free.

[Slark]

hello i ahve doubt i.e bitcoins are distributed freely for mining

Mining costs a lot of money: electricity costs, hardware costs and so on.  The difficulty is rising, you will need to buy new hardware every so often. This is anything but free.

I have one question. What will happen to bitcoin when all will be mined? Then there will be only need for some infrastructure to deal with network maintenance and flow of coins.

[yvv]

Bitcoin has real value for sure. The question is, does it have imaginary part? That would be so cool, a currency unit in 2 dimensions! 

[oblivi]

Yes you have value because

1) There is people willing to pay for it
2) The way to obtain then without paying, requires energy (mining)

[Soappa]

hello i ahve doubt i.e bitcoins are distributed freely for mining

Mining costs a lot of money: electricity costs, hardware costs and so on.  The difficulty is rising, you will need to buy new hardware every so often. This is anything but free.

I have one question. What will happen to bitcoin when all will be mined? Then there will be only need for some infrastructure to deal with network maintenance and flow of coins.

There will still be bitcoin mining when block reward becomes zero and miners will then earn only tx fees.
Also, I expect big bitcoin holders will keep mining even at loss to support the network.

[Soappa]

I can exchange my bitcoin for USD or Euro easily.
I can spend my bitcoin on numerous products and services, from multinational corporations and from small local shops.

Why would it have no real value?

[sifter]

Think of it much like digital gold.

[lynn_402]

If you're on this forum, then you probably already consider that it does. Many individuals' opinion on its value is all that counts for it to be worth something.