I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:
" like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"
I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.
Bitcoin value now is very low, and everybody still patiently waiting that it became higher. Thats why their are a lot buy bitcoin and hold it.
Right now, one thing is for sure, Bitcoin value right now is very low and patiently waiting until the time will come that bitcoin price will became high. Many people really do believe bitcoins work thats why they are still buy a bitcoin and hold this until they can sell it in a higher price.