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RE: The Reason that BITCOIN Has Value is Because... + get 100SP delegated to you by commenting~
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.
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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.