The future of bitcoin is not bitcoin charts
Today, there are already thousands of merchants around the world accepting Bitcoin as a means of payment, thus proving the growing usefulness of it. There is simply no other digital currency that is as widely used and integrated at this point in time. Like gold, Bitcoin is perfectly fungible one Bitcoin is similar to anotherit is divisible you can pay someone a small fraction of Bitcoin, should you want to and easily verifiable via the Blockchain. Take gold, for example.
Bitcoin is both useful and scarce, so it has a value and a price, determined by supply and demand. Gold also has some uses to which consumers derive satisfaction from utility. Back to Articles Why does Bitcoin have value and how is the price determined?
How has the price of Bitcoin changed over time? Put simply, it is relatively expensive because it is rare, hard to find and limited in supply scarcity. There is simply no other digital currency that is as widely used and integrated at this point in time.
Traders with bank accounts in our supported countries can trade Bitcoin on the Luno Exchangewhich sets the specific price at a specific time for a specific market. As a growing number of people become aware of and interested in Bitcoin --especially when the price tends to increase -- we often get asked: However, when determining price, one must also consider the amount the future of bitcoin is not bitcoin charts buyers are currently willing to pay for the future value of a specific item. That said, the volatility of Bitcoin has consistently been going down and it has become much more stable in recent times.
By definition, if something is both rare scarce and useful utility it must have value and demand a specific price, with all other things being equal. We created a Bitcoin Price Calculator page, where you can see what price of Bitcoin was with Luno at any time in the past. Why does the price change so often? Not only does it the future of bitcoin is not bitcoin charts have value as a payment system, but also as an asset class a store of wealth. How the price of Bitcoin is determined The price of Bitcoin is not the same as its value.