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.
It is not that simple but like everything in the world, all bought and sold in the market are given value by the law of supply and demand. It is the market that decides if something has value and how much.
A good example is gold. The value it has today is because of the price the people are willing to buy it for. But trap those same people in a desert and sell them water or gold, then I believe water would be more in demand, making it more "valuable".
As a housewife I have no work I'm just take care of my child.when my friend visited me she asked about Bitcoin. She teach me on how to used them.At that time I am interested to joined the Bitcoin because my friend said that at the end of this campaign, maybe we have token. And I am very excited for these because tokens of Bitcoin give some value for us if we have a profit.