{"headers":{"Content-Type":"application\/x-www-form-urlencoded"},"body":"source_lang=&target_lang=PL&tag_handling=xml&split_sentences=1&preserve_formatting=1&text=How+much+is+a+Bitcoin+worth%3F&text=Part+seven+of+Bitcoin+Basics%3A+The+phenomenon+explained+in+plain+english&text=In+part+6+of+the+Bitcoin+basics+series+we+looked+at+whether+%3Ca+href%3D%22https%3A%2F%2Fdev.coininsider.com%2Fpt-pt%2Fo-bitcoin-e-dinheiro%2F%22%3EBitcoin+is+money%3C%2Fa%3E%2C+in+part+7+we+look+at+what+bitcoin+is+worth.+%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0AWhen+Bitcoin+was+first+created+as+a+result+of+Satoshi+Nakamoto%E2%80%99s+white+paper+and+the+mining+of+the+genesis+block%2C+the+cryptocurrency+first+sold+for+%241c+USD+per+1+BTC.%0A%3Ch3%3EWhat+is+Bitcoin%E2%80%99s+current+value%3F%3C%2Fh3%3E%0ABitcoin%E2%80%99s+price+has+made+momentous+gains+over+the+past+three+years%2C+which+has+driven+intense+media+speculation+and+hype+that+has+done+much+to+create+an+air+of+mystery+and+suspense+around+digital+currencies.+In+2018%2C+Bitcoin+price+fell+significantly+and+the+token+has+been+consistently+trying+to+find+support+and+break+through+resistance+in+the+markets.%0A%3Ch3%3EWhere+does+the+value+of+Bitcoin+come+from%3F%3C%2Fh3%3E%0ABitcoin%E2%80%99s+recent+price+surges+might+create+the+impression+that+cryptocurrencies+are+a+vacuum+where+new+money+is+seemingly+%E2%80%9Ccreated%E2%80%9D+out+of+thin+air%2C+and+investors+can+%E2%80%9Cget+rich+quick%E2%80%9D+by+investing+minimal+sums+into+Bitcoin+and+see+large+returns.+%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0AHowever%2C+that+isn%E2%80%99t+necessarily+the+case.+Bitcoin%E2%80%99s+value+is+determined+by+the+investment+and+use+of+its+community+and+is+officiated+by+the+distribution+of+new+Bitcoins+into+the+market+through+the+process+of+mining.%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0AAs+we+explored+in%3Ca+href%3D%22https%3A%2F%2Fdev.coininsider.com%2Fpt-pt%2Fo-bitcoin-e-dinheiro%2F%22%3E+Is+Bitcoin+Money%3F%3C%2Fa%3E%2C+the+value+is+chiefly+created+by+the+ability+of+any+currency+to+act+as+a+store+of+value%2C+means+of+exchange%2C+and+unit+of+account.+In+other+words%2C+if+people+around+the+world+simply+stopped+using+the+US+Dollar+tomorrow+and+deemed+it+worthless%2C+we+would+see+the+value+of+that+currency+plummet+because+no+party+would+want+to+own%2C+trade+with%2C+nor+issue+it.%0A%3Ch2%3EBitcoin+price+surge%3C%2Fh2%3E%0ABitcoin+saw+its+first+major+surge+in+2011%2C+where+the+cryptocurrency+reached+the+value+of+approximately+%241+USD+to+1+BTC%3B+at+this+time%2C+media+coverage+of+Bitcoin%E2%80%99s+gains+attracted+new+users+which+accordingly+saw+the+price+rise+to+as+much+as+%2430+USD+per+1+BTC+before+a+massive+crash+that+saw+the+value+plummet+all+the+way+back+down+to+some+%242+USD.%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0ABitcoin+has+%28arguably%29+seen+three+major+price+surges.+Typically%2C+new+investors+purchase+Bitcoin+%28enabling+the+cryptocurrency+to+gain+value+in+USD+terms+as+it+gains+prominence%29+with+a+planned+exit+strategy.%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0AFor+example%2C+an+investor+might+have+purchased+Bitcoin+when+the+%3Ca+href%3D%22https%3A%2F%2Fdev.coininsider.com%2Fpt-pt%2Fbitcoin-circuit%2F%22%3Ecryptocurrency+traded%3C%2Fa%3E+for+%241+USD%2C+with+the+intent+of+selling+when+it+reached+%2430+USD+per+coin.+The+investor%2C+upon+exiting%2C+would+have+ideally+made+a+30x+return+on+their+initial+investment.%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0AAs+this+process+has+unfolded+in+the+past%2C+media+around+the+world+have+tuned+in+to+explore+Bitcoin%E2%80%99s+peaks+and+valleys+-+the+cryptocurrency%E2%80%99s+novelty%2C+interesting+technological+foundation%2C+and+the+willingness+of+investors+to+purchase+the+cryptocurrency+has+in+the+past+created+what+can+be+called+a+publicity-price+loop.+This+means+that+as+Bitcoin+becomes+more+%E2%80%98public%E2%80%99+%28or+more+accepted%29+we+can+expect+to+see+the+value+of+the+cryptocurrency+increase+over+time.%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0ABitcoin%E2%80%99s+value+will+ultimately+be+determined+by+its+use.+Since+2009%2C+Bitcoin+has+seemingly+established+itself+as+a+form+of+%E2%80%98digital+gold%E2%80%99+where+investors+can+purchase+shares+%28Bitcoins%29+and+expect+to+sell+them+later+for+profit+once+their+respective+value+has+risen.%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0AAs+a+peer-to-peer+currency+network%2C+however%2C+Bitcoin+could+stand+to+benefit+most+when+used+as+a+conventional+currency+to+purchase+either+goods+or+services.+In+recent+years%2C+we%E2%80%99ve+seen+major+companies+such+as+Microsoft+and+PayPal+adopt+Bitcoin+as+tender+-+meaning+that+as+the+cryptocurrency+becomes+an+accepted+means+of+exchange%2C+we+may+see+it+accumulate+far+greater+values+or+%E2%80%98worth%E2%80%99.%0A%3Ch3%3EWhat+will+the+future+value+of+Bitcoin+be%3F%3C%2Fh3%3E%0AInvestors+and+pundits+around+the+world+have+pondered+the+question+of+what+Bitcoin%E2%80%99s+eventual+value+will+be.+Simply+put%2C+there+may+be+no+reliable+value+we+can+pinpoint.%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0ABitcoin%E2%80%99s+nature+as+a+peer-to-peer+currency+network+that+has+its+foundation+in+cryptography+traditionally+classes+it+as+a+speculative+investment.+Fundamentally%2C+it+will+likely+be+up+to+investors%2C+governments%2C+and+institutions+around+the+world+to+determine+the+ultimate+value+of+Bitcoin+by+signalling+their+intent+to+purchase+or+make+use+of+the+currency.%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0ABitcoin+has+enormous+potential+to+serve+as+a+decentralized+global+network+through+which+parties+can+transact+and+settle+payments+in+an+average+of+less+than+fifteen+minutes.+The+fact+that+Bitcoin+foregoes+the+influence+of+governments+or+central+banks+means+that+it+is+not+necessarily+subject+to+the+same+political+or+environmental+pressures+that+might+determine+the+value+of+fiat+currencies+or+precious+metals+such+as+gold.%0A%3Ch2%3EThe+value+of+Bitcoin+consensus%3C%2Fh2%3E%0ARather%2C+Bitcoin%E2%80%99s+value+is+essentially+determined+by+consensus+-+the+agreement+of+parties+around+the+world+to+adopt+it+as+a+store+of+value+and+means+of+exchange+will+ultimately+define+what+value+each+bitcoin+possesses.%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0AMany+people+around+the+world+have+their+own+perspective.+Billionaire+investors%2C+such+as+John+McAfee%2C+have+publicly+expressed+their+belief+that+one+Bitcoin+will+be+worth+a+million+US+dollars+before+the+close+of+2020.+Others%2C+such+as+Warren+Buffet%2C+have+claimed+that+Bitcoin+is+merely+a+bubble+and+won%E2%80%99t+be+worth+substantial+amounts+in+the+near+future.%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0AIn-between+this%2C+individual+investors+will+also+create+their+own+exit+strategies+wherein+they+are+prepared+to+leave+the+market+and+%E2%80%98bank%E2%80%99+any+profit+made+on+their+investments.%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0AThese+aspects%2C+together%2C+coupled+with+continuous+publicity+over+time%2C+will+ultimately+determine+the+future+value+of+bitcoin+as+people+around+the+world+either+adopt+the+cryptocurrency+as+a+new+standard+or+forego+it+entirely+in+favor+of+another+cryptocurrency%2C+established+fiat+currencies+or+precious+metals.%0A%3Ch3%3EWill+Bitcoin+fail%3F%3C%2Fh3%3E%0AHypothetically%2C+we+may+see+scenarios+in+future+where+Bitcoin%E2%80%99s+value+dissipates+and+its+worth+is+forgotten%2C+where+the+cryptocurrency+becomes+a+%E2%80%98fringe%E2%80%99+currency+used+in+tandem+with+other+fiat+currencies%2C+or+where+parties+around+the+world+adopt+Bitcoin+as+a+new+global+payment+standard.%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0APresently%2C+the+biggest+determining+factors+of+Bitcoin%E2%80%99s+worth+in+the+near+future+will+be+the+willingness+of+parties+to+accept+the+cryptocurrency+as+tender%2C+and+the+willingness+of+institutions%2C+central+banks%2C+and+governments+to+either+invest+in+it+or+accept+the+use+of+it.%3Cstrong%3E%28BIG%29%3C%2Fstrong%3E%0A%0AIn+part+eight+of+our+Bitcoin+Basics+series%2C+we%E2%80%99ll+be+exploring+%3Ca+href%3D%22https%3A%2F%2Fdev.coininsider.com%2Fhow-can-i-buy-sell-bitcoin%2F%22%3Ehow+you+can+buy+or+sell+Bitcoin%3C%2Fa%3E.+%28BIG%29","timeout":15}