What is the real value of bitcoins

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I have a lot of confusion about bitcoin. What is the real worth of a bitcoin. For instance currency used to be backed by gold but now a days its fiat currency all around us.

Adnan

Posted 2015-12-13T15:52:41.530

Reputation: 3

Question was closed 2015-12-14T00:20:20.207

Answers

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Bitcoin doesn't have a "real worth". It is not backed by any sort of resource. Bitcoin is considered valuable for the same reason gold is valuable; it is difficult to acquire, there is a limited quantity of it, and people are willing to pay a relatively high sum for it. If everyone decided they no longer wanted to participate in bitcoin and sold all of their coins, bitcoin would no longer be worth anything (assuming no one else wanted to buy into it).

haze

Posted 2015-12-13T15:52:41.530

Reputation: 124