The Reason that BITCOIN Has Value is Because... + get 100SP delegated to you by commenting~
Hi all,
How often do your friends and family ask you why is bitcoin worth so much? well, if you agree with what I've said you can now tell them this is the reason. see below video:
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Last post's winner:
If one is asking "what is the value of BTC"- most likely it has no value to the person who is asking this question.
Because those who for got BTC, who HODL them for years - has perfect understanding from where is this value comes.
As simple as that
BTC has to be understood first before it becomes valuable in someone's mind. The people asking questions are on the right path; they just have to be guided properly.
BTC has value as a trustless exchange of value protocol, but it could have been so much more if it had dApp capabilities.
But on the other hand, if the BTC group(s) focus on enhancing the value transfer protocol to make it comparable to the tps of Visa or MC while increasing security and decreasing fees, the value of the BTC protocol will be even higher.
Well said. one has to understand the gist behind, why it was brought on the seen. What the developer had in mind and problems he wanted to solve. Then come onto why it has appreciated the value to where it is now and how. To expects, all this info can be understandable in not time but to bums, crypto is something that they think is for the 'elite'
it is simple to people who are already understand btc's value but let's get more people who don't yet understand to start thinking about it. we often are blinded by the "knowledge curse" in which we dismiss things that we deem are simple because it is very basic to us, yet to other it is often the first steps of understanding that is the hardest to grasp. as an example, if you have understood algebra, it seems very trivial to you to be asked why is 2+2=4. yet it is exactly that simple addition that is needed for understanding of algebra.
Great post! Follow me and i will follow you. I will auto upvote anyone who is following me.
Check https://mykucoin.com for more Cryptocurrency news
Technically, no currency has any value except what we assign to it. Cryptocurrencies are the same, many people invest in bitcoin. This can change the value of any currency. So, you are right, and wrong. At the same time
I want what you're smoking plz
why do you say that @bazinga? bitcoin never became valuable untill people trusted it and imagined it to be valuable, and today, its only calculated value is what people decided to sell it for during that day.
Perhaps you've missed out on how the values of all currencies are calculated but @replaycoding has a valid point, the value of any currency is just determined by what it trades for, there is no other magical measurement or system that determines its value.
I was more amused by the phraseology than his point.
But I'm not willing to pick a fight over his point. It's valid indeed.
Hell, maybe I am willing to debate. "What it trades for" is another way of saying popular opinion of value. Popular opinion can be extremely manipulated.
"Power lies where men believe it resides. It's a trick, a shadow on the wall." - Varys
Currency only works with a network effect, especially if the thing being exchanged has no intrinsic value outside of being a currency. Given that fiat has no intrinsic value, it just satisfies certain properties of money and is used as such.
Technically Power shifts from time to time . where is it moving to ? Crypto currency is a thing of the future . with the way inventions/creations keep springing up am sure the ULTIMATE COIN will soon be create if it hasn't already .
I am very glad you are talking about this because I believe your voice is likely to be heard. I know others have talked about this in the past, but I don't see this being taken as seriously as I would like it to be.
But just because a smaller percentage of the population believes something has value, doesn't mean it actually has value.
The same thing can be said of people who collect fine wines (or anything, in actuality) - to the small subset of the population, these wines are valuable; but to others the wines are merely tools to get plastered. It gets even more intricate when you take into the account people who see wine as disgusting and therefore has no value, or those who just see this expensive wine as overvalued and are waiting for prices to decrease.
I think there's a mix of all these types of people in the cyrptocurrency space, making it even more pertinent to establish why something has value in the first place. Me getting a group of people together and saying "Because I've held onto this position for so long, you should also join our group and hold onto this position for a while because it is inherently valuable" wouldn't cut it in any other space, so why should we apply the same logic to cryptocurrencies?
Nonetheless, I do think cryptocurrencies are valuable (bitcoin not so much, personally) - the key is getting the rest of the population on board.
To me the value of BTC is Not that it is $10072.30 (as of this moment)
The value is in changing this planet.
One day long long time from now, possibly hundreds if not thousand years, children will learn in the first grades of school:
** List of events and inventions, which had biggest impact in evolution of this planet Earth:**
Invention of WHEEL
Invention of speech
Invention of writing
Invention of electricity
Invention of Bitcoin ( blockchain)
Now you are getting it. Please read my post today under @quantshaman. Crypto and blockchain IS the r3voLtion.
I blogged a post about my comprehension of the infinite abilities of blockchain the other day. My feeling is Bitcoin is here to stay, once all the coins are mined a lot more people will comprehend the technology and will trust and use it. Btw i dont own any coins right now but im intrieged and if i had capitol would follow the market and invest in it. Lets see what the future brings. 😊
whoaaaaaaaaaaaa you forgot one important one the Invention of Internet, also you can read my Value of the bitcoin down below.
I have intentionally skiped internet. Trying to show that blockchain's importance (in a very long run) is so much more than internet's.
I think blockchain wouldn't have happend if there was no internet 🤔🤔
BllSht... :D
printing press & Oil
Don't forget Gutenberg's printing press, just like Bitcoin allowing for the democratization of the bank account (a.k.a. private store of wealth), his printing system made possible a wider distribution of
bank notes*books (a.k.a. personal knowledge).I was thinking about making a Satoshi/Gutenberg kind of meme but since I coincidentally came upon your comment throwing up a bunch of inventions, there you have it.
*historyMAKING A WHOLE LOT OF SENSE...DUDE
Bitcoin gets the value from the speculations of holders/users.
Ha ha ha... that's true.
I fail to understand why bitcoin is better than other digital currencies which are far more superior in tech and are near instant and almost fee less. If bitcoin cant become a transaction currency, it will not become a standard either. It is just a piece of cryptographic code and will become redundant if not updated, which is the very nature of technology to include fee less instant unlimited transactions feature. People should not have emotional attachment to it.
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bitcoin has no intrinsic value. It, like all forms of currency, has value because people pretend it does
yes and its high now because of the demand of how company and big business is implanting it into their system because of a mass public adoption of online users
I would vote for you, but last time I didn't agree with anarchyhasnogods, so do you think a anarcho-socialist is a thing, do you think it's adequate to both be for and against state power, how do you think that'd balance out
let me sum it up.
"Anarcho capitalism" is not a thing, the most common form of anarchist is socialist
so social anarchism is socialsim? and anarcho capitalism is capitalism, then why are you throwing labels around :D I'd say both aren't a thing, they are derivatives of old systems that don't work or do work and you are just arguing nonsense ;D well I wouldn't impose on anyone anything, so that must make me an anarchist, w/e I'm a volunterist-anarcho-capitalist-libertrerian-free thinker, I don't get why you label and go into the left-right dichotomy, I'm not sure I'm either of the ones above or some of the unlisted ones.
I do agree that the current systems are flawed, but that has always been the case, sorry for getting caught up in this, but just like you I think that anarcho socialism can't exist without a state either. Anarcho capitalism could however if people adhere to values, social and economic, you could have private ownership without a state, because you have a community and respect between peers, if there is no community each of the peers is free to do whatever they choose with the goods and services they have, therefore free trade, of course you'd need the non-aggression in practice since it would get feudal otherwise, I'm not sure what your value and views are on the topic, so I have nothing to say.
"anarcho" capitalism is not anarchist. Private ownership of the means of production requires a state.
The first self-proclaimed anarchist, the one who essentially defined it, was anti-capitalist in every way.
read up on words before you use them to sound cool.
damn I wrote such a cool comment, don't really wanna redo it. Basically I am cool I care about what makes sense, bicker about left and rightisms. it's a belief system at the end of the day, I'm not a political fan I just like schools of thought, nothing else, thanks for the hint I will read when I have time as it is there is enough on my plate. Plus politics is a side track for me, I do have interest in it and history tho.
Cheers ;)
social anarchy is not for state power. Private ownership of the means of production can't exist without a state. Social anarchy is based on collective control of the means of production
After the economic collapse about a year 2009, Satoshi Nakamoto created a new currency that suppose to be a medium of exchange without the Government, banks and any other third party involved in transactions, in other words it's peer to peer transfer of value via decentralized blockchain. Before, it was easy and cheap to transfer bitcoin to other person, but today it's a bit harder, longer, and expensive due to it's scalability and scarcity supply of bitcoin(21m) that leads from a crypto currency to sort kind of commodity that will exist forever unless you turned off all the Internet around the world, and that's why there's a value to it at the same time it serves as a hedge against incoming economic collapse.
To me, Bitcoin has value because there are people who believe that it has value. Bitcoin is simply a placeholder for value much like a US dollar has value. A US dollar is a contract between two individuals that agree that that dollar has the same value and that contract and agreement give that dollar its value. If someone believes that a US dollar has value, then inherently they also believe that Bitcoin has value.
What you are saying is any currency not just the USD. The contract between two individuals is that they agree that this currency is what is perceived. After that its the banks that make these two people believe that this value of this currency is what is on the note ie.100 dollars. The banks are then backed by the governing country, in your case the US government, The USD is the faith of the American government and the economy which is backed by all the US banks which is back by the Federal Reserve.
which prints money out of thin air, then the banks distribute to people so they can produce and consume more goods, ending up with where we are wasting electricity making bitcoin transactions :D
bit coin is worth what any one is willing to pay the first rule of captist economics
this is a very insight video... thank you... FREEDOM is the right of all sentient beings
Value is subjective, and it isn’t something that tangibly exists in reality, so it’s no wonder why so many people get hung up on this concept.
Some people knock bitcoin because of its “lack of instrinsic value”, while pointing out that currencies like gold do have instrinsic value - i.e. if gold wasn’t a currency, it’d still have value because it’s ‘pretty’ and people like to wear it.
This is a logical fallacy. Tastes change. The world could wake up tomorrow and decide they don’t think gold is pretty anymore. There is nothing instrinsicly ‘valuable’ about gold, nor any other good in the world. Value is only an opinion, subject to change on a moment’s notice. Our opinion of a good is not THE good itself, if that makes sense. If it doesn’t, keep reading:
A currency’s supposed instrinsic value can only serve as an insurance policy—a price floor for you—in case people decide to stop transacting in it. It does nothing to make the currency more useful at being a currency. Still lost? I got this:
At the end of the day, what you really need to do is examine the things that make something a good medium of exchange. Without mediums of exchange, we’d all be inefficiently trading goods between each other. I’d trade you chicken for your water, you’d trade me milk for my eggs, and it’d be a nightmare, and ridiculously tough to start a business, limiting the velocity of economic growth. Instead, we need a good (or multiple goods) that can function as a way to allow us to transact as smoothly and efficently as possible. Here’s 7 characteristics that I think make a perfect medium of exchange:
(1) divisible
(2) durable
(3) portable
(4) storable
(5) transferable
(6) scarce/rare/costly to acquire/produce (USD fail)
(7) Private/anonymous (USD fail)
How many goods out there can you think of that satisfy these principles? Hardly any. Gold has historically fit these principles best, but not even close to perfectly. For example, how portable is a large amount of gold? How transferable is it?
If there was some magical good out there that could be all of these things perfectly, I’d bet the market would choose it over any other means of transacting—over the USD, gold, you name it.
Bitcoin and crypto, in my opinion, is as close to perfect as there is in the world, as per these principles. I believe it’s inevitable that the market, on a mass scale, will share my opinion as well in the future. Especially once all the technology that is currently being developed on top of the blockchain is released. Acquiring and transacting in crypto will become so easy, so accessible, and so cheap, anybody will be able to do it.
Oh, and not to mention, we won’t be debt slaves anymore to the world’s banking elite. So that’s good too. ;-)
slaves to just a few whales then?
bitcoin is just the beginning!
To be honest, I don't see Bitcoin as everyday payment system for small things, like cup of coffee. High fees at moment are not reason for that, I believe that BTC developers will solve this with LN or some other thing.
Problem to buy coffee in my view is because price is too high and it will be higher in future.
At moment of writing 1 USD is 0.000108785 BTC. It is not ease to put all those zeros when you are buying something and it will be more zeros if price go higher. I think that average user don't want to do this and there are other cryptos for small payments. You can still pay for cup of coffee with BTC if you have Bitcoin VISA or Mastercard but this is not Bitcoin payment, that is fiat payment after card provider convert your BTC to fiat.
Maybe Bitcoin price in Satoshis can solve this and I have herd ideas for that but I don't think that it will be easy to implement that.
My view of Bitcoin is that it is best store of value and payment system for transferring large amount of money and buying expensive things like houses, cars,etc...
Somebody can ask why BTC, why you don't use some other cryptocurrency for that?
Reason is simple, BTC is most decentralized (not as I would like) of all, it's brand is well known around the world, and it doesn't have leader that you can influence on.
Satoshi's leaving is best thing he could do for BTC dough he's tech skill would be useful for sure and it wouldn't be more pronounces of he's vision that I hate a lot.
If he is around somebody(governments, many bad people) could force him on something, so this what he did is best for Bitcoin and him.
And use case for uncontrolled, free money transfer is huge.
Imagine how rich people from Russia felt after USA and EU put sanctions and froze all money that they have in foreign banks.Nobody want that he's wealth depend on some government's will. With Bitcoin you don't depend.
How would Julian Assange defend himself without BTC? They froze all his assets but BTC they can't.
Swiss banks were forced to open their accounts after 2009. crisis and now Credit Swiss, one of their biggest banks is not profitable for last 3 years. Why would you keep your money in Swiss banks if you don't have any benefit comparing to other banks.
So there are Falkon private bank and Vontobel bank, who firs have aloud keeping bitcoin on account and I am sure that more Swiss banks will follow that.
As a store of value I agree with opinions that you can't just HODL, you need to spend that BTC have value. There is more and more houses bought with BTC and as I wrote, BTC is perfect for buying expensive things. Again story with zeros, it is easier to pay 107 BTC than 1000000USD.
People just need to get used to BTC. Just as they are used to these exchange rates:
Technologies as lightning network and/or segwit will solve the high transaction costs!