Why Bitcoin, Other Crypto Coins Have Value

“Where is the value of Bitcoin coming from, actually…?” Pretty simple: Bitcoin has evolved into something that a lot of people want — like, or even more so than, a dollar or a yen — and Bitcoin is in limited supply due to the complex proof-of-work requirements underlying Bitcoin. This means, that even tough the system continues to crank out “coins”, this will stop when it reaches 21 million. The underlying idea of Bitcoin was to create a currency whose value, unlike that of the dollar, could not be watered down by some central authority like the Federal Reserve. When...

Why Does Bitcoin Have Value?

“Where is Bitcoin’s value coming from, anyway…?” Pretty simple: Bitcoin has evolved into something that a lot of people want — like, or even more so than, a dollar or a yen — and Bitcoin is in limited supply due to the complex proof-of-work requirements underlying Bitcoin. This means, that even tough the system continues to crank out “coins”, this will stop when it reaches 21 million. The underlying idea of Bitcoin was to create a currency whose value, unlike that of the dollar, could not be watered down by some central authority like the Federal Reserve. When all 21...