What Makes Bitcoin Have Value?: This Is The Answer

By Alvine Chaparadza

From its introduction in 2009, Bitcoin has enjoyed a meteoric rise in price from being valued for nothing in March 2009 to being valued for $1 in February 2011 to being valued $6,813.97 as of the time of writing this article. Bitcoins trajectory in prices has coincided with debates regarding the source of its value.

Many are even comparing bitcoin’s rise to the transition from gold to paper money as the process was marked by debates regarding paper money’s value and its sharp increase in price.

How did Bitcoin and other cryptocurrencies get their value?

Basically, Bitcoin derives its …read more

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