Post
Topic
Board Bitcoin Discussion
Re: What makes Bitcoin valuable?
by
rommelo24
on 13/05/2018, 05:40:14 UTC
Everyone in the crypto space has had people tell them that Bitcoin is worthless or that it doesnt have any true value.

Of course, thats infuriating to hear, but for investors new to the space, its sometimes hard to craft a good answer.

So heres a little cheat sheet for any newbies out there who get this question or accusation:

1. Bitcoin is safe.  It cant be hacked because its decentralized.
2. Bitcoin eliminates layers of transaction fees.
3. Bitcoin is fast (especially after the lightning upgrade).
4. Bitcoin provides more privacy than normal transactions.
5. Bitcoin hedges against stupidity from central banks and governments.
6. Bitcoin cant be counterfeited.
7. Bitcoin isnt tied to other asset classes and is a hedge against other investments.

In short, Bitcoin solves massive problems with the financial and political world, and that is its value.

And because its the most tested and has first mover advantage, it has been established as a store of value, much like digital gold.





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Gold is valuable because everybody agree that it is valuable. Bitcoin became valuable now because it is becoming so popular and everybody wanted to have a piece of it and while it is very scarce, that makes it so valuable now. Scarcity is the main characteristic why bitcoin is so expensive.