What is the value of bitcoin?
Paper money very quickly turned into credit and debit cards, and the evolution of the Internet and digital technologies accelerated every day. Now on the Internet we have electronic wallets, bank accounts, payment systems, electronic transfers and other things that allow us to manage our money.
And yet, state fiat currencies could not satisfy all the needs of modern man: he needed something that would make him independent from politicians; something that cannot be artificially inflated or devalued; and that which does not lend itself to the action of world economic crises. People needed Bitcoin!
If you compare it with ordinary money or coins, you can see that this cryptocurrency has similar characteristics:
- as with gold/silver, bitcoin mining requires a lot of time and effort;
- bitcoin is recognized all over the world, and it is accepted by many companies and countries;
- the supply of bitcoins is limited;
- Bitcoin is even more portable than fiat currencies.
Thus, bitcoin has many useful aspects, and therefore many people would like to own it. Bitcoins can now be used to pay for goods and services in many places. In addition, Bitcoin has become a great tool for investors who would like to preserve the value of their money.
And old money can no longer compete with cryptocurrencies as people lose confidence in fiat currencies due to new economic collapses or geopolitical crises. People are tired of boundaries and restrictions, and they no longer want decisions to be made for them.
Whoever invented cryptocurrencies introduced a completely new idea of money based on the principles of transparency, decentralization and openness. Cryptocurrencies are managed collectively – and only by those people who really need them for everyday use. People needed new money, and bitcoin was exactly what they were looking for. And its value will only grow along with the demand for it.