Quote from: Cryptmuster on September 03, 2022, 05:15:14 AM

Each of these assets has its own value, its own advantages and disadvantages. What determines the price of gold? It needs to be found, mined, for this you need a lot of equipment, then processed, transported and stored. All this affects its final cost, as in the case of bitcoin, in order to get it you need equipment, electricity, equipment maintenance. But the amount of bitcoin is limited compared to gold, and the more people want to own some part of bitcoin, the more expensive it will become.

Just like Gold, time and energy is spent to mine Bitcoins. It's safe to say that cryptocurrency's value doesn't come out of thin air. Most people can't believe how something intangible as Bitcoin can be more valuable than Gold. That's because they truly don't understand how Bitcoin works. The general public only believes what the government says about Bitcoin, so they will say Bitcoin doesn't have value without taking the time to do their own research. It shouldn't matter since ultimately the market decides how much Bitcoin is worth in Fiat terms. As long as there's demand for BTC, it won't be going anywhere soon. Just my thoughts Grin