Explain to your 7 year old nephew why Bitcoin has value

>The dollar has value because the government says it does
>Gold has values because, uh, history says it does
Even my 7 year old nephew can tell you're sour grapes. Nobody would have turned down a 20,000%+ return on investment if they knew about it four years ago.

So my theory is that one of the big pushers for the demand of Bitcoin began with the blackmail/extortion trojans or viruses that would want you to pay in BTC. The scammers also ran the exchanges so they could hide and make money legally because of an underlying illegal practice.

Then after this was established everything else came later. The speculation. The HODL memes, The bubble and the buy high sell low shit.

This post made me dumber. T..thanks.

Gold has value because it's proven to hold it's value well in times of crisis. Meanwhile Bitcoin IS the crisis.
>muh store of value.
Yeah nice store of value you got there. Dropping 70% in 2 months
Not to mention gold has industrial use like in electronics.
But none of that matters because muh lambo and see you on the moon salty nocoiner. The bubble popped at 19k. Get over it

Value is subjective nephew. Things fluctuate price based on market signals. For example, gas goes up and down. One day its 2.49 a gallon. Next day more or mayb less. And the market gets these signals from human action. Some ppl r willing to pay more than others. Some r willing to pay less. The market averages this out to a price that moves. Bitcoin is worth money because so many ppl r willing to buy it. At a higher price mayb we will see fewer buyers. At a lower price mayb more. Santa isnt real nephew. Government is just an evil organized crime syndicate. Cops r mobster thugs. Ur mom is a whore.

"MUH FREE MARKET MUH DECENTRALIZATION YOU FUCKING JEWISH GOYM"

It has no intrinsic value meaning it serves no purpose other than speculators seeking to purchase it and sell at a higher price

You retards have no idea do you.

It's valuable because it's SOVREIGNLESS.

It's a token of credit, not a token of debt like the EURO and USD.

Fiat currencies are bound by their sovereign debt, the quantitative easing and other factors.

Crypto is a token of credit, a token of value. It allows people to transcend the sovreign ladder.

I cannot believe this hasn't been mentioned yet.

You people have no fucking idea.

Buy Monero before it's too late you fucking dopes.

Whats it like being so fucking dopey?

MAYBE PEOPLE WANT GASOLINE SO THEY DRIVE THEIR FUCKING CARS DIPSHIT. What purpose does Bitcoin have other than being seen as an "investment". So when the price goes up you can dump your bags on the next greater fool.

Honestly it would be easier to explain it to a child than most of Veeky Forums. We say a thing is worth something when somebody else is willing to give something for that thing. Then that thing is worth that something. That's all there is to it. Bitcoin is worth what it's worth because somebody is willing to pay that. It doesn't matter why.

Illegal transferts are bitcoin niche, so you are right.
Muh future because no evil government are retarded though.

It's sovereignless: it allows you to store money outside of government control

it's permissionless: a homeless person can hold a wallet/account, a child can hold one, an oppressed person can hold one, without begging a bank.

It's borderless: PayPal doesn't support Afghanistan? does matter. Bitcoin supports EVERYWHERE.

That's it.

THATS THE USP.

you fucking turkeys.

>Hey nephew, you have $1?
>Sure uncle, here you go
>Great, now here's $2 for giving me your $1
>Wow, that was easy!
>It sure was, now do you have $5?
>Yes, here you go
>Oh I'm sorry, your $5 is now only worth $1, here's your $1
>What? Uncle... why?
>If you give me the $1 back again it might be worth even $10 next time, who knows?

usd is backed by the biggest economy in the world you cuck

Some clever people figured out how we can share and edit lists of things without needing to trust any one person to keep the list but it means editing the list has to cost money. To try this idea they made bitcoin which is just a list of how much bitcoin each person has. It worked pretty well as an online currency with no middle men like banks which made more people interested in it and wanting to buy so the price went up. Now most people just buy because they think the price will go up but don't know why.

I don't lie to children unless it's about nice things like Santa

Yes but none of that changes whether bitcoin is worth $10k or $10. Its current worth in fiat is purely based on speculation, i.e. "I'll buy some now because I think somebody else will pay me more for it down the line."

hege funds calculate fundamental value simply users * amount of transcations currency is used for

In the age of "we can copy anything online" that has most value which you cannot copy paste.

You cannot copy paste the bitcorn

because retards buy it

That's incorrect.

Those features make it desirable.

They value is of course determined by demand.

And demand is fucking huge (of course it will be for a global money with the characteristics I describe).

BTC will hit 250K imo (not giving timelines) but this is the price at which the market cap reaches reasonable expectation for such a money system.

Monero will hit 25Kusd imo.

>7 transactions/second
>used worldwide

In theory with an informed market the price would be shifting based on how much confidence there is that bitcoin will eventually become a mainstream solution with the chain intact. If you own a bunch of btc tokens when that happens there would be a lot of demand for it, a high price.

I can even print dollars badly at home. Imagine if bitcoin worked like that?
>even though the protocol allows it please don't print any fake bitcoin or we will find you and be really mean to you

Its not for buying coffee or Mango juice you fucking stinky pajeet.

Anyway, I was just explaining to you idiots.

I think BTC will likely fail. Monero is the fucking future.

>Bitcoin IS the crisis.
kek. Have fun moving your useless metals across borders.

Once the market realizes it's worth trillions due these features, it will be worth trillions. You make money when you buy, by being ahead of the pack. Not everyone can win, hence why people like you or OP don't get it.

The chinks like to gamble

250k is too small. Too much money out there sitting on memes.
Sorry but no, you can still sell your shitcoins and realize why there is no such thing as cryptocurrencies, only Bitcoin.

Its a speculation bull market, take that for what you will son but never invest more than 10% of your wealth into it

Scarcity is what makes things valuable, we rather have that scarcity defined by an algorithm that is immutable rather than having it decided by a central bank that might prioritize its own interests.

its value is determined by how much usd or eur is put into it, your basically buying stock. i believe its overvalued now at 8k. i believe its value is something between 500 to 3k usd

Bitcoin is a toy for big people. So they give everything they have to play with it. It's like hot wheels your mom never buys you because it is too expensive. But in your school, everyone would give you all their money to have your toy.

P.S Are Hot Wheels still cool?

I feel like people talk about Bitcoin (and other cryptos) as if it wasn't created and designed to do something very very useful.

thanks just sold 100k

>Scarcity is what makes things valuable
so if I will write bitcoin but two times harder to mine/keep, it will have 2x the value?

>lightning network
>billions of transactions/second
yes kid, used worldwide.

Gold has value because its used to build your computer you pathetic retard

Well my boy, when a lot of people all want the same thing at the same time, for whatever reason, they will pay more money to have it.

Its like those video games you enjoy so much boy, when theyre new we give you 60 fucking dollars to buy them, but eventually they are worth only a couple of bucks, why is this?
Listen boy, its because its new, its been advertised, people are excited about it, they have false expectations and when those expectations are proven to be false and it turns out to be yet another childrens games no more people will be willing to pay extortionate prices for something so useless, so the price drops to its true value

Gold had value as coinage because it was limited, measurable and so harder to counterfeit. It continued to hold most of those values for millenia, but we are basically past that now. But its value was also the fact that, given those qualities, a lot of nations began accepting it. As in, Romans were making laws that said their currency was equal to x amount of gold. So anybody who wanted to do business with the Romans knew they could do it if they had gold. So gold and dollars have had value because government have said so.

Gold is largely speculative now though based on its history, but that is more and more fringe. People call people who horde gold "goldbugs" for a reason. Bitcoin still has no similar reason for people to really believe it has value. Who knows, maybe a libertarian will whisper in Trumps ear and tomorrow he will be obsessed with getting us back on the gold standard. That has more chance of happening than Bitcoin being adopted, so if I were really speculating based on value as currency, I'd probably even go with gold.

biz "Do you believe in God?"
7yr old: "Yeeees of course!"
biz: "We believe in Bitcoin. See?"
7yr: "Ahhhh ok. I buy 100k".

you silly billy. Bitcoin is fucked due to tainting and fungibility issues.

Oh and that silly block size.

Monero has doubled in BTC terms over the last year.

This year it will 4x on BTC.

Sadly even shit will win out over BTC.

Look at ETH, flipping this year.

Sorry you silly, naive, smelly, pajeet

Written by a true wage slave. Atleast you have said it with your chest, while your overlords will be Bitcoin bought lambo drivers

I already sold my 7 year old nephew for bitcoin back in 2011 so I'm sure he understands

coinmarketcap.com/charts/#dominance-percentage

Looking real healthy that BTC dominance... oh wait no its not. It's looking shit.

ALL TIME LOW.

only about less than 15% of gold is used for industrial use, so that's wrong "you pathetic retard"

Scarcity is relative to demand if you had the same demand as bitcoin then yes.

>2017: the post

medium.com/bitcoinfoundation/the-bitcoin-dominance-indicator-fallacy-2b11093869d4

>he fell for fluffypony's meme
Sorry for your loss.

FP's meme outperformed BTC last year by 2x.

Sorry for your loss.

>Bitconnect outperformed Bloatero
>my shitcoin is better than yours because a bigger amount of idiots got scammed into depositing fiatola on it

7 year olds have a better understanding of digital assets holding value than most boomers. thanks video game skins.

its pretty much exacly like gold

Not trying to convince you anymore.

Don't worry, im too old to sell my bitcoin for scams.

until it isn't.
China will be the biggest economy soon enough