Post
Topic
Board Bitcoin Discussion
Re: Why do bitcoins have value?
by
buwaytress
on 29/05/2024, 15:17:29 UTC
Bitcoin has value because it can function as a store of value and a unit of exchange.

Simpler still to say anything has value as long as people attribute value to it.

I can think of some things that can function as a store of value and unit of exchange but aren't practically valuable because people don't place value in them.

It also demonstrates six key attributes that enable its use in an economy.

You mean the characteristics of sound money? I agree but these can evolve. The US dollar, for example, is considered sound money, but is in danger of losing one attribute (scarcity or difficulty to produce). Some say the seventh attribute of modern sound money is the ability to retain all these characteristics for every user. Bitcoin does this through independence.