Page 1 of 1

What gives bitcoin its value?

Posted: Thu May 11, 2017 11:32 pm
by Andrew Jones
What gives bitcoin its value? Why are bitcoins going up? These new digital currencies are gaining their value faster than share prices (actions) of many real earning pro-profit organizations, which are actually accumulating their money, properties and increasing the profit. However, anyhow, it is an evident reality that bitcoin's value is monstrously growing and someone could see it as an opportunity. Why are people buying it like crazy and what do you think that how much will bitcoin be worth in 10 years? I think this is connected with the fact that governments are not big fans of the new digital currencies and it's because of that, what are the political and economic repercussions of bitcoin and its clones. I did not buy it yet, because I am afraid that some governments will prohibit it. Where does bitcoin get its value and is this climbing trend gonna continue after 5, or 10 years? What are the pros and cons of the expanding popularity and acceptance of these forms of money?

Re: What gives bitcoin its value?

Posted: Thu May 25, 2017 8:53 pm
by Adam M.
I do not have any original answer, but would like to thank you. You gave me a hint. Actually, the prognosis of the value are unexpectedly optimistic. This is the first time I rethink to buy, or start to mine BitCoins.

Re: What gives bitcoin its value?

Posted: Thu May 25, 2017 11:28 pm
by Juraj Vysvader
The story of BitCoin is amazing : ) All of us know that the increasing demand increases the price and the demand is growing.

  • Any transactions in cryptocurrencies such as BitCoin are cheaper.
  • Transactions in cryptocurrencies are faster. For example, if you send money via banks from EU to Japan, then it can take 1-2 weeks, into some countries even more, whereas cryptocurrency transactions will be verified in the time between few seconds to hours. It's possible to receive money in 3 seconds on ligthing networks (e.g. with Litecoin).
  • If someone charges his customers in BitCoin then doesorn't have to pay any taxes, because rather of govts (around the world) doesn't wanna recognize BitCoin as a real currency. Legislatively, BitCoin isn't recognized as money, so, formally, he's not receiving any money.
  • Someone could prosper in illegal businesses because of the same reason mentioned above. Formally, they're not selling, nor getting paid for prohibited services.
  • Analytics predict increase of Bitcoin's price. It's driving demand by itself, while people see in Bitcoin an opportunity.
  • BitCoin is a candidate for global currency with the highest international market cup, because doesn't lose its worth from day to day such as American Dollar. In the digital world is still the same amount of BitCoins. There's no government decreasing its worth, there're no governments creating more for themselves and, given together, in fact, there's nobody stealing from you on its shared worth. BitCoin doesn't have any inflation. Theoretically, if any other currencies created by govts really do and in the future will have got the same worth as a toilet paper, then it's pretty much logically expectable that BitCoin must grow on its comparative value. Now, do you prefer to hold your savings in BitCoin, or Dollar? You see...

How did bitcoin gain its value

Posted: Wed May 31, 2017 4:56 pm
by Andrew Jones
OK, anyway, How did BitCoin gain its value when started (to lift up) from zero? There's unclear who was the creator and whoever was in a cycle of the first owners of BitCoin, there was no trust and magically... it grew up.

Re: What gives bitcoin its value?

Posted: Tue Jul 18, 2017 3:38 pm
by Zak Rodrigez
Is it calming if you know that a currency is made by a government such as the US? Does it gives any presumption that they aren't gonna decrease the worth after you buy it? Really, there'd been no trust and it's exactly the same like when governments started to print out a paper money instead of gold money, or when they stoped to cover the worth of paper money by any gold. Even, it's the same when they initialized using a digital money. There was no trust as well as now's no trust in the Bitcoin. The single one difference is that fact that this isn't made by any government institution, but it's made by an individual, instead.