Bitcoin became bitcoin bitcoin cash. In this article we seek to lay a framework for calculating a medium to long term value for bitcoin and to empower the reader to make their own projections on the value of bitcoin.
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Sensible people were amazed that not only did bitcoin cash end up being worth usd 400 a coin approx.
People will adopt bitcoin because its the easiest or only way to complete tasks x y and z. The emergence of bitcoin as one of the hottest new investment assets has surprised many who once believed the blockchain driven cryptocurrency would never have real world value. The answer to this question is rather simple and it lies in basic economics.
Bitcoin the worlds first decentralised digital currency was launched in 2009 by a mysterious person known only by the pseudonym satoshi nakamoto whose true identity is still unknown. A desktop computer if it works nonstop might be able to solve one bitcoin problem in two to three days however it might take longer. 10bn market cap but that the bitcoin price! went up after the split too.
Bitcoin ca! n be used as both medium of exchange and a store of value the second depends on the first. Scarcity utility supply and demand. Each bitcoin math problem has a set of possible 64 digit solutions.
The bitcoin supply is limited. Based on that value one bitcoin would be worth a little over 16500 and 16 bitcoins would be worth more than 26400 today. Its restricted by 21 million and not all coins are emitted yet.
Ultimately bitcoins value as a programmable asset is the most viable path to mass adoption. Why exactly does bitcoin have value many people find it difficult to grasp how something which only exists digitally can have any value at all.
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