Re: Why is bitcoin worth so much ?

Quote from: spy100 on Today at 11:02:17 AM

Quote from: so98nn on Today at 10:39:27 AM

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,paypal etc ...

So why do you need to transfer in cryptocurrency if you have these ( WU, dbt, paypal) to transfer with? Just to clarify, you don't necessarily use cryptocurrency to transfer funds if you have more platform/app services to do it with so much convenience. Indeed that if takes more to transfer via crypto since there is conversion rate fee and transaction fee that's why you need to consider this process before transferring funds.
People are just using crypto for others not to track their transaction, the privacy Wink