Why Do Bitcoin have value?
We often call Bitcoin a virtual currency, an alternative to many more central bank-based traditional money. However, fiat money is valuable as it comes from the issuing bodies like the central bank with the government’s backing. However, we find Bitcoin decentralized, with retail transactions coming from different places. One may argue that the value of Bitcoin is very much similar to that of valuable metals. Both are limited in quantity, so you can choose to use like cases. Several valuable metals, including gold, are used for various purposes in the market. However, Bitcoin is powered by a technology called Blockchain, which is known to have some suitable applications all over the financial services as found in different domains. The digital provenance found in the digital world can allow you to cater to some retail transaction on one particular day. Speaking of value, the Bitcoin market is highly volatile, so values can change every day that is why traders need platforms like www.bitlq.net to monitor the market and buys or sells when the timing is right. Does Bitcoin have value? We know Bitcoin fails to have any support from central banks or government, while it comes as a system that works...
