Brokamp brought in Motley Fool analyst Aaron Bush to give their listeners the lowdown. If enough people reach a consensus, what they agree upon becomes unimportant. Others might conflate it with utility, asking how an asset that is not as widely used or accepted as the USD, for example, can actually hold any value. For example, Bob spent a year to raise a cow and it took Alice the similar amount of labor to raise three lambs. Southwick: That's the first time you've used the word "token." Can you talk about that a little bit more? It doesn't take significant amounts of money to move the market price up or down, thus the price of a Bitcoin is still somewhat volatile. Bitcoin is instead a simple, elegant and modern replacement for the entire concept of money. I wish some of my listeners could yell back and be like, "Yes. Price yahoo finance symbol bitcoin group se is determined by the market in which it trades: by means of supply and demand.
Why does bitcoin have value
Base this in turn on the assumption that for something to be used as a store of value it needs to have some intrinsic value, and if bitcoin does not achieve success. Why exactly does Bitcoin have value? Many people find it difficult to grasp how something which only exists digitally can have any value at all. The answer to this question is rather simple and it lies in basic economics: scarcity, utility, supply, and demand.
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A full transcript follows the video. However, they are actually more secured than fiat currencies once you understand the mechanism behind. But when you ask them why, they couldnt answer because they have never really thought it through. Simply put, some people are spending time and resources to build a transaction system, and get compensated with bitcoin. Those who have studied business or finance, quickly conflate value with price. 2) Cryptocurrency cannot be forged because it is secured by cryptography. Like gold, Bitcoin is also scarce: its supply is limited. I know another question comes to you mind why do we have to use cryptocurrency instead of dollar? It is fast, borderless and decentralised with the potential to change the financial world for better. In the early state of society, the value of a good or service was determined by the amount of labor required to produce it, and then the need for exchange of goods and services bred currency. Therefore, they will buy and hold Bitcoin as a hedge, and enjoy its benefits insofar as freedom of speech and economic freedoms are concerned.
Why does bitcoin have value
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