Post
Topic
Board Bitcoin Discussion
Re: Why Does Bitcoin Have Value?
by
marcayden
on 13/05/2020, 06:36:03 UTC
Bitcoin really obtains their value from the fact that there is limited supply, heightened demand, and utility (for investments or transaction purposes).

Unlike major currencies around the world where the central banks have in place a form of monetary policy to control the supply of currency in circulation, bitcoin and blockchain is wholly dependent on a decentralised network whose performance is totally reliant on market forces.

Also, given the increasing acceptance of such digital assets in societies, this legitmises the coin as having intrinsic value (currency only has this as it is legal tender aka the government putting their chop/backing on the currency).

There are governments around the world who are afraid of this and accuse cryptocurrencies as a way to launder money, for illicit activities, etc. But their main concern centers heavily on tax-evasion - our government earns its keeps via taxes (more often than not).

So hold on to your bitcoins if you have any, and watch it go up up up!

Hope this helps!