Why is bitcoin so expensive?

[Well Played 77]

On 11/23/2019 at 4:34 AM, Slavish said:

A limited number of tokens in 21 million. according to calculations, the last bitcoin will be mined by miners in 2040, every 4 years there is a halving and the reward to miners is reduced by 2 times

This is what I thought also because the coins that low supply will probably increase price. Especially that bitcoin are famous also because this is the very first coins created 

[Daaang 344]

I don't know why bitcoin is so much expensive than other currency. I think because there are so many user of bitcoin. That's what i think but if someone know the answer please correct me. 

[MysteriousIdentity 150]

On 11/23/2019 at 4:34 AM, Slavish said:

Why is bitcoin so expensive?

Здравствуйте! Биткоин такой дорогой по нескольким причинам: Ограниченное количество токенов в 21 млн. По расчетам последний биткоин будет добыт майнерами в 2040, каждые 4 года происходит халвинг и награда майнерам уменьшается в 2 раза. Анонимность транзакций. Можно переводить любые суммы и ваш кошелек никогда никто не сможет отследить. Спрос и предложение. Чем больше его покупают, тем он дороже. Скорость транзакций, если сравнивать с банковским переводом. Можно брать кредит в биткоинах и расплачиваться им в магазинах.

 

 

Hello! Bitcoin is so expensive for several reasons: A limited number of tokens in 21 million. according to calculations, the last bitcoin will be mined by miners in 2040, every 4 years there is a halving and the reward to miners is reduced by 2 times. The anonymity of the transactions. You can transfer any amount and your wallet will never be able to track. Supply and demand. The more people buy it, the more expensive it is. The speed of transactions when compared to Bank transfer. You can take a loan in bitcoins and pay them in stores.

Bitcoin is very expensive right now because of the demand  that keeps on increasing and aside from that big investors are also putting their money in bitcoin that helps bitcoin price to increase that much. 

 

The limited supply is also one of the other reason why it's price is very high because if the supply will be overwhelmed by the demand then price increase will definitely to happen. 

[Khancrypto 28]

Due to the popularity of bitcoin and everyone want to invest in it due to which bitcoin so expensive. There some other currencies that have the same value as bitcoin

[jamesvince 2389]

Bitcoin is so expensive because total supply of bitcoin is very unique and limited and investors are much of btc all over the world and now with high demand btc is very volatile and risky for investment. 

[Nakamoto 279]

16 minutes ago, Camry40 said:

I think its price is likened with the mining cost. It's hard to get bitcoin from mining now, because of high difficulty. So miner must upgrade their hardware frequently. If the bitcoin price is cheap, maybe no miner interested to mine it and also it won't interest some investors.

Right. Bitcoin prices do adjust rewards per block. Apart from that, the quantity of bitcoins is only 21 million and even less. This number is very petite for the entire world population. Bitcoin is very rare, you have to have it even a little. Don't follow the old stubborn people.

[DokAgsikap 145]

It becomes so expensive because of the high demand of it, as long as thing or a coin has a high demand, the supply will be affected as well and directly proportional to the price of it, that is why bitcoin becomes expensive.

[Madison 165]

Yuр, thе роint is thаt thе dеmаnd thаt соntinuеs tо risе оr аrguаblу thе mаss аdорtiоn аnd thеn with thе right аmоunt оf suррlу dоеs nоt inсrеаsе will mаkе thе vаluе оf bitсоin mоrе еxреnsivе. Вut in thе саsе thеrе аrе а numbеr оf things thаt саn rеsult in it nоt hарреning iе thеrе is nо rеquеst оr nо intеrеst frоm thе usеr.

 

[MrGeany 297]

bitcoin has the price its users are willing to pay for btc, it is a free market, if you want btc price to go up you have to pay lots of monay and btc pric ewill go up, if you are not willing to pay big money for btc, than btc price will go down. just simple free market reaction.

[Raven 7817]

On 2/1/2020 at 1:17 AM, Kahkashan Ajaz said:

Bitcoin got so expensive because it got popular The more people who accepted that it could have market value but very little utility the more expensive it became. 

 

 

True, bitcoin became expensive because of the popularity of it. Bitcoin is the best currency we could used to earn huge amount of money, we only need to keep the wealthiness of it by sharing latest news about it. 

[Upright 2688]

As I know bitcoin bis more expensive in stages when the the market value of the coin is high, and so having to buy bitcoin at such moments will be more costly, than having to buy it when the prices have had an intense dump in value

[Saboor 511]

The expensive of bitcoin can be attribute to the demand of the people and the increase in cryptocurrency population, make bitcoin value to always increase, and it is one of the best coin it invest

[Brand1 1336]

The price of bitcoin is exorbitant butter because it is the first cryptocurrency that has been absolutely supported as it was supported by many stock exchanges and drew everyone’s attention as there is a great demand for this currency and became famous all over the world and this made its price very high

[Zaino34 0]

Bitcoin currency is the most popular currency among digital currencies and it is the most used. The more demand for a currency, the higher its price. Therefore, the popularity of bitcoin has maintained its high value.

[Nezar 7169]

The price of bitcoin is very expensive, due to the great demand for this currency and the popularity it receives from the population, as well as its mother or cryptocurrency and the oldest currency in the crypto world.

[Saboor 511]

6 hours ago, ChilBran said:

Not this time around, halving effect can not be direct, it will only result into Pepe buying bitcoin. The buying will increase the price. 

We don't know how actually it will affect the price of bitcoin, but I think the price increases depends on the condition at that time, people also has their positive impact on it

[BitcryptoHan 2557]

1 hour ago, Peter Urban said:

You are right. There are only few milions of BTC, but there are trilions of USD and there will be much more pumped to the economics, cause of coronacrisis. I hope, that BTC will be known as safe harbour.

Bitcoin is called a safe haven, be it harbour or haven, bitcoin is expensive but not expensive to buy as to I can by $1 worth of bitcoin. 

[magd 5231]

Bitcoin is the main and most expensive currency. The cryptocurrency market is associated with bitcoin for this reason. It is natural for the price to be high. It contributes to trading operations through the loans it provides. Its great features are a reason for its high price.

[ahmedasd 192]

yes bitcoin is the most expensive crypto in this world because it is a controller crypto for other crypto and we wait for some company to start there system with bitcoin in real life

[SuperCrypto 7193]

Bitcoin BTC has reached fairy prices in previous years, and it has also suffered from the harshness of the cryptocurrency market as well, it is good to remember now, especially during quarantine, how far the vision of Bitcoin's creator Satoshi has reached.

[Saboor 511]

8 hours ago, ethan1751 said:

To be sure bitcoin is one of the coins that has a high volume and high demand. which resulted in bitcoin always growing big every year. With that price will also always follow it.

Bitcoin is the only first coin to make cryptocurrency to progress, the higjer the demand the more expensive to it will get even in the future

[Trader21 1199]

BTC is so expensive, that is why it is really popular in worldwide. Of course the blockchain technology and exactly price of BTC depends on demand and in my opinion there are really a lot of people, who are using right now this technology. 

Edited April 21, 2020 by Trader21

[BitcryptoHan 2557]

22 hours ago, Saboor said:

Bitcoin is the only first coin to make cryptocurrency to progress, the higjer the demand the more expensive to it will get even in the future

Yes, it makes and helping other cryptocurrencies to be adopted because it is the first. It is more expensive because it has the highest market cap. 

[Saboor 511]

On 4/22/2020 at 11:00 AM, BitcryptoHan said:

Yes, it makes and helping other cryptocurrencies to be adopted because it is the first. It is more expensive because it has the highest market cap. 

I agreed with you, many people adorn bitcoin because it is worthy to invest and have a good profits in it, and I think ee are yet to see the better site of this coin yet

[kadayakito 765]

Bitcoin is so expensive because it has a huge supply and demand. Its use is always at the forefront. Everyone wants to own it, a value for money and the best market. furthermore the supply of bitcoin is limited. Only 21 million bitcoins. The supply is under control, so bitcoin is everyone's dream.