Post
Topic
Board Economics
Re: Why is bitcoin worth so much ?
by
spy100
on 14/06/2020, 11:02:17 UTC
Ethereum has virtually unlimited supply while BTC is capped to 21 million coins.
...Moreover, you get value because investors keep buying it.

But if you have 1000 usd and you want to transfer it to another person i don't get it how bitcoin can help me ...

Example i want to send money to a person B in another country

I Person A have 1000 usd
To exchange it it cost me around 5% - 8%
Now i have   920 usd in btc form ...do to fact bitcoin is so volatile i could lose another 50 usd in 10 minutes or gain 50 usd ...just speculation
I send it to person B  a small transaction fee is taken
Now person B has to exchange it to Fiat he got to pay trader / exchange platform another 5%-8%
After exchange person B has left around 846.4 usd

That's a 15.36 % loss just from exchange cost
More expensive the WU,direct bank transfer,payapl etc ...