[Fresh Wind]

What makes bitcoin worth anything at all?

[catnipman]

“What makes bitcoin worth anything at all?”

nothing more than the greater fool theory.

[jjsheridan5]

What makes bitcoin worth anything at all?

Because bitcoin is a cheaper, and safer, way to transfer money from point A to point B. In addition, it is a safer way to hold wealth, at least in some respects, since bitcoins open up a wide variety of ways of storing wealth, including physical storage, as well as redundant physical mechanisms (ie - storing a bitcoin in both a safe deposit box and a mason jar in the yard, both with passphrases, makes you safe from both theft and accidental destruction). Finally, the bitcoin framework effectively prevents double spending (the bane of non-physical payment frameworks).

To top it off, bitcoin is also about as unhackable as it gets. Basically, if it was going to be hacked, it would have been by now, given the ginormous incentives to do so.

But the main reason for bitcoins' value is that it is a fundamentally better way to transfer wealth over the internet. That is where all of its value is ultimately derived from.

[Strac6]

Trusting Bitcoin?

Complete faith in complete strangers, despite all reasonable evidence and expectations they are are going to screw you.

In that way, it’s sort of like voting for the Clintons.