brainlet here
where does the value COME FROM? like if everyone just buys bitcoin and uses it mostly for money exchanges, what actually causes the price to go up? and why is it so fucking high right now?
like if I had some btc a week ago and sold it now while the price is higher, isn't that just free money? how does that work exactly? where does it come from?
it comes from new buyers, they'll run out eventually and this shit will crash hard since it can't be used as currency. there is a mean, it will be useful eventually, but it won't be bitcoin. stay safe.
>like if everyone just buys bitcoin and uses it mostly for money exchanges, what actually causes the price to go up? and why is it so fucking high right now?
The people who want to trade USD for bitcoin have to buy it from someone. To buy bitcoin on an exchange, you list a price you want to buy at. Say you are willing to buy 1 BTC at $15,000USD. Someone else is willing to buy 1 BTC at $16,000 USD. Someone else is willing to sell BTC at $16,000 USD.
What's the price of BTC now?
It comes from and is stabilized by the drug market. Until drug dealers stop taking BTC it's never going to have a proper crash and could theoretically inflate to insane numbers if you have a bunch of crazy fucks in the drug market dedicated to moving kilos of drugs for Bitcoin and Bitcoin only. And in that case there's no way for any government to reign it in unless they go all out and legalize drugs so people don't need to use the darkweb.
drug dealers use monero now
A bit behind the times ain't you?
so right now when it's getting pretty popular in the news (and why im hearing about it more and thus why im even on this board asking this question) is when I should buy? or should I wait until the next crash? or will the next crash be the final crash? or have I already lost out since I'm one of the new buyers that will cause the crash?
it just seems too good to be true. somebody has to be the loser eventually
>t. Monero shill
drug dealers now use monero, this aint 2012 anymore
If you do any illegal activity and use bitcoin, you better get used to prison food and buttsex
far better than bitcoin
crypto has one job- secure privacy in financial transactions, and bitcoin fails at that
People agreeing to buy Bitcoin at its current price is what gives the coin its value. And everyone is in on the craze right now
i feel like i need to buy some now if the value is created in the fact that there's new buyers and there's going to be an inevitable crash and many losers
how do i buy it exactly, like where do I go, can I use paypal? how stupid are these questions?
bitcoin and cryptos are here to stay, but this bubble will pop
decentralized asset + no middle man requirements such as banks or market makers
price goes up rapidly as there simply are not enough people willing to sell the jackpot
what's causing the current spike? is it just random? I mean I heard shit about china banning local exchanges just a few weeks ago and now THIS?
What makes monero better?
That feeling you have, the one that's screaming at you "BUY BITCOIN" is what fuels the value.
When no one else want to buy it, the price will go down.
Value is where supply meets demand, and right now, demand is insane.
so everything is random and without cause
I don't get it
mind you I quite literally failed macroeconomics 101 (actually I got a C- but still)
>failed macroeconomics
Please don't buy any security or cryptocurrency.
Please. For your own good.
shut up i passed calc 2
It's a scam, but life itself is gigantic scam too
In basic terms, the value of any asset is determined by supply and demand. These 2 variables change depending on many factors. For traditional shares, earnings reports, tech breakthroughs and overseas expansion will typically drive up demand- increasing the price.
In the case of Bitcoin and 95% of other cryptocurrencies which have no use cases so far, the demand is determined by the amount of people looking to sell at a later date.
I'm not bullish on Bitcoin and I know most people will disagree, but look at Greater Fool theory to see how the Bitcoin market operates.
The enormous increase in demand over the past year hasn't been generated by fundamental changes, technology upgrades or greater adoption. The only thing driving it is new investors buying in the hope that they can sell for a higher price later.
This is extremely unhealthy for any market and right now it's increasingly hard to argue that Bitcoin isn't in a giant speculative bubble.
If I were you I would sit on the sidelines and learn as much about the tech as possible and even play around with $50 on an exchange to get a feel for how volatile things are.
thanks this is helpful
how do I actually buy though, I'm scared of putting any bank info on coinbase or something, even if it's just account/routing number for deposits
AXA BILDERBERG BLOCKSTREAM PRINTS BITCOINS FROM THIN AIR AND THEN BUYS THEM FROM THEMSELVES WITH TETHERS THEY ALSO PRINT BTC IS FIAT CURRENCY IT IS BACKED BY NOTHINK