Quote from: 24Kt on April 11, 2022, 11:24:36 PM

Quote from: EdenHazard on April 11, 2022, 11:20:44 PM

Quote from: zhpool on April 11, 2022, 05:16:29 PM

It has value largely because a lot of people think it has value. Like other commodities, currencies and tradable stuff, if people are willing to pay for it, then it has value. If people are willing to accept it as payment, then it can be used to transfer value. If people are willing to buy and keep it, then it can be used as a store of value.

For now most people tend to treat bitcoin like a gold but a version of high return .

They even know that bitcoin may worth nothing at some point , but they insist to get in and there you go .. the value created in the community and it's getting bigger and bigger.
The real value of bitcoin might be 0 and might be unlimited that nobody can imagined it. That's the charm of bitcoin to have real value.

Though we have no backing about the value of bitcoin, it is influenced by the supply and demand in the market. And since the adoption is growing, people believe that in the near future, btc will grow its value. Though for a fact, we have no assurance for that to happen. And right now, if you are thinking about its real value, just convert some of your satoshis to your local fiat, and you will already see that btc do have actual value that you can spend with.

I think that the support of BTC apart from the Law of Supply and Demand, there is nothing other than the same participation of the people, that is, it is a market that moves emotions to the surface, panic, emotions of joy make all the speculative markets move, but especially when talking about Bitcoin too, the whales, the fact that Bitcoin is not backed by gold, or precious stones, makes its value increase, even the very fact that it is not know who is or who are Satoshi Nakamoto is something that already has its intrinsic value there, that is why Bitcoin cannot be compared with another asset, that serves and looks like money, that represents money and that is a deflationary alternative technology, I believe that these are endorsements that are not even obtained in the traditional economy.