Re: Still confused why bitcoin is so bullish?

Hello, I still do not understand the mechanism by which bitcoin or ethereum, or any other virtual currency, increases or decreases the price / value. I don't know if it is a scam or not

Pure supply and demand. Every coin is priced from an expecptation to the future - a perfect combination between micro- and macro economy Grin

Glad a newbie has better understanding and sentiments for Bitcoin than a member who is using the forum since four years. Actually apart from demand and supply, we also need to understand that why the demand is increasing and that is because more guys are coming into the market while mining almost remains the same which is the only source of supply. What I mean to say is that demand might remain the same for individual but because more people come into crypto, that automatically increases the demand.

But most other people are totally different. I really wonder what makes them to think Bitcoin might be a scam. I don't want to try and change their perception towards bitcoins or cryptocurrencies because if 4 years of stay didn't changed it, I don't think anything else ever will.

Been 4 years in crypto and he has not gained anything and still thinking that this may be a scam? That's very saddening. It means, he didn't educate himself about crypto throughout those years. Because ignorance is the only reason why after all those years, you still think, btc or eth is a scam. Maybe, he needs to understanding a lil bit more here and start in the Beginners section. If he will educate himself on his own, he will understand a lil bit more about crypto.