I still do not understand why bitcoin price goes so high, without any value except tradability. I see Steemit has more value than bitcoin, but still people are crazy to buy bitcoin.
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I still do not understand why bitcoin price goes so high, without any value except tradability. I see Steemit has more value than bitcoin, but still people are crazy to buy bitcoin.
People buy Bitcoin because it's intermediary currency between other cryptocurrencies and real-world currencies. It doesn't matter how many times the Bitcoins change hands due to people either exchanging Bitcoins to local currency or local currency to Bitcoins as most exchanges limit the amount of single transaction so it won't affect so much the exchange rate.