Why Does BTC Have Value?

[FSP-Rebel]

Someone made this site after going to the 2013 American BTC Conference this last weekend. Good for noobs or prospectives.
http://www.whyisntbitcoinworthless.com

[brandon]

It has value because people want it. Maybe a better title for the site would be "Why do people want bitcoins?"

[eyes_open]

Bitcoin has value for now. It's a terrible bubble of value though and sooner or later going to zero.

[muh_roads]

Bitcoin has value for now. It's a terrible bubble of value though and sooner or later going to zero.

You have terrible value.

[muh_roads]

..


You can send any amount of money almost anywhere in the world almost for free, and still have it arrive there within minutes.

You can, for the first time, store value inside software code, allowing programs to own and transmit value without relying on bank accounts.

You can use multi-signature accounts, which need two or more people to sign off on a transaction before the money can be spent, allowing for distributed ownership and easy escrow services.

You can use it to avoid financial censorship.

Since Bitcoin is just an account that requires a signature to spend, you can keep that signature in your memory, and carry your wealth entirely in your head, while still accessing it anywhere there is an internet connection.

You can insert a hash of a document into a Bitcoin blockchain, creating a permanent notarized signature for the document, which proves when it was created and that it hasn't been tampered with.

You can sign a digital contract using your wallet address signature, send or receive money from the address used to sign that contract, and have a permanent, publicly verifiable proof that a contract was signed and honored.

You can use a marked bitcoin as a token to represent something else, such as a share of stock, and then issue, sell, transmit, and trade it using the Bitcoin protocol, without a need for investment banks or brokerages

Cyprus

You can use it without relying on middle men, like payment processors, and avoid all the fees and hassles associated with them.

You can't counterfeit or reverse a Bitcoin transaction. No one can. The network that verifies and secures Bitcoin transactions is several times more powerful than the top 500 most powerful computers in the world combined.

You can use it for triple-entry accounting, which has the potential to change finance as much as the invention of double-entry accounting has

[tttppp]

There are two kinds of value for currency, liquidation value and value as a going concern. Its liquidation value is zero but it does have vallue for now because people want to use it for transactions.

[muh_roads]

If I liquidated BTC holdings it would have value. whut?

[tttppp]

If I liquidated BTC holdings it would have value. whut?

That's because it has value as a going concern. If it didn't its value would be zero.

[heavenlyboy34]

it has value to the extent that people want it. Value is subjective.
http://mises.org/media/6512/Subjective-Value-and-Market-Prices

[tttppp]

it has value to the extent that people want it. Value is subjective.
http://mises.org/media/6512/Subjective-Value-and-Market-Prices

Its subjective value will go to zero if people decide they don't want to use it for commerce.

[heavenlyboy34]

Its subjective value will go to zero if people decide they don't want to use it for commerce.
truth...well, unless they come up with some novel use that we can't predict right now.

[oyarde]

When I could use it to buy something with that I normally purchase , then it would have value . Now , it has none for me.

[anaconda]

As a side note, the volatility has all but disappeared for the time being. Seems like it's been sitting around $128 every day.