It is the first currency in the world that is BOTH decentralized AND digital.Because bitcoin saves both parties money on every transaction, its value to society is measured in its current price--which is actually far lower right now than its true value were it used economy-wide, which is why bitcoin makes a great investment.
Bitcoin study shows value of exclusive access for early
In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin.As of now, 10.35799117 BTC was spent out of 22.51357574. If you have ideas for the remaining BTC, see here for more info.
Bitcoin Nostalgia: Can Some Bitcoins Be Worth More Than
Bitcoin Versus PayPal Comparison - Business InsiderThose who own that collectible can enjoy exchanging them at whatever value they agree on.Bitcoins have the ability to act as a new currency and a store of value.Western Union and other money transmitter businesses charge a large percent, I believe that its in the area of 20% per transaction.The value of Bitcoin, like all currencies, is determined by how much.
To misunderstand this is to misunderstand investing itself, as well as to misconstrue much of what is happening in the Bitcoin world.
The only meaningful part is your last sentence, which just again highlights that no Bitcoin insured bank exists.And that means that no one individual or entity has the power to arbitrarily create new units (thereby causing inflation), freeze (or seize) your account, or block a particular payment from being processed.
This, amazingly, is only just a few of the things you can do with bitcoin and other cryptocurrencies.Bitcoin study shows value of exclusive access for early adopters Delaying access for the tech-savvy can stifle spread of new products, experiment with students shows.
Bitcoin Value | Throughout the Years & BeyondA proposed upgrade to Bitcoin Core that allows larger block sizes.The physical nature of gold makes it hugely inefficient from a transactional perspective.Bitcoin has value because for the first time in history, we can transfer a piece of digital value over a trustless network in an unimpeachable manner.
Government fiat currencies, like the U.S. dollar, have value because governments grant them legal tender status and only accept taxes through them.Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy.