Quote from: Kakmakr on April 01, 2018, 06:09:11 AM

Any currency or commodity has perceived value, because people gives it value. Why do people want to use a little piece of paper to buy a cup of imported coffee from a coffee shop? Why does the coffee shop vendor want that piece of paper? The simple reason is that people believe that the piece of paper are backed by the government and the government guarantee it's value.

In Bitcoin people can use the token to transfer value globally, because the token has a perceived value that are determined by supply and demand on a open market. ^smile^

The value of bitcoin is reportedly down by 67 billion US dollars or more than Rp 900 trillion in the past week. The total value of bitcoin in circulation is now in the range of 125.8 billion US dollars. Bitcoin prices are now far behind, with a margin of more than 60 percent, from record highs in the range of 19,500 US dollars per chip recorded in December 2017. The decline in bitcoin prices was triggered by a massive sell-off due to a lot of bad news that recently hit the cryptocurrency industry.