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Image: Michael Wuensch / Pixabay

Here Are the 6 Biggest Reasons Why Bitcoin Is So Valuable

There are many others, but here are the 6 biggest ones.

Sylvain Saurel
Oct 10 · 4 min read

In the Bitcoin world, some attacks and criticisms come up frequently. Opponents of Bitcoin, whether political leaders, bankers, or economists, almost always use the same outdated rhetoric to denigrate Bitcoin.

When you have been in the Bitcoin world for several months, you will notice that Bitcoin is often accused of facilitating illegal activities.

This is a subject that has been addressed many times, but politicians love to resort to this totally false attack. In fact, it has been proven that using the U.S. dollar for illegal activities is much easier than using Bitcoin.

At other times, some will tell you that Bitcoin is bad for the environment. Bitcoin would consume too much power to work properly. In reality, it has also been proven by various studies that Bitcoin is even good for the environment.

Most of the energy used by the Bitcoin Blockchain to operate comes from renewable energy sources. Redirecting this energy to Bitcoin avoids wasting energy. Energy consumption is therefore not the famous Bitcoin Achilles’ heel that some people would have you believe.

Then, some will argue that Bitcoin has no intrinsic value. These people do not realize that the value of a currency or an object is totally subjective. For those people who are interested, I invite them to read this excellent Wikipedia article on the subject of the “Subjective theory of value”.

The supporters of this theory explain globally this:

“The value of a good is not determined by any inherent property of the good, nor by the amount of labor necessary to produce the good, but instead value is determined by the importance an acting individual places on a good for the achievement of his desired ends.”

Thus, the U.S. dollar is only valuable because a majority of people decide it is. It is the same for gold. For Bitcoin, it is the same.

Bitcoin users are convinced by the monetary revolution that Bitcoin embodies. They want to believe in the better world that Bitcoin builds for everyone in the future.

Among the many reasons why Bitcoin is so valuable to them, there are 6 main reasons:

  1. Bitcoin is scarce. Bitcoin is the hardest money in the world. There will never be more than 21 million BTC in circulation. Bitcoin’s programmatic monetary policy is there to abstract it from the corruption inherent in humans. It is a great advantage to finally have good money at our disposal.

More than 100 million people are now in the Bitcoin world.

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100M users for Bitcoin — Illustration by Sylvain Saurel

These people are willing to pay $11K to buy a whole Bitcoin. This shows how much they value what Bitcoin offers today. As the adoption of Bitcoin accelerates in the future, the price of Bitcoin will increase.

There will be nothing miraculous about this increase. It will only be proof that millions of people will have understood that what Bitcoin offers has an incredible price in the world of the future.

You will know what to say the next time someone tells you that Bitcoin has no intrinsic value.

In Bitcoin We Trust

In Bitcoin We Trust is a place where Bitcoin believers…

Sylvain Saurel

Written by

Entrepreneur / Developer / Blogger / Author. In Bitcoin We Trust: https://www.inbitcoinwetrust.net

In Bitcoin We Trust

In Bitcoin We Trust is a place where Bitcoin believers share their ideas about the upcoming revolution. Blockchain and cryptocurrencies are also covered in this publication.

Sylvain Saurel

Written by

Entrepreneur / Developer / Blogger / Author. In Bitcoin We Trust: https://www.inbitcoinwetrust.net

In Bitcoin We Trust

In Bitcoin We Trust is a place where Bitcoin believers share their ideas about the upcoming revolution. Blockchain and cryptocurrencies are also covered in this publication.

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