And how is Bitcoin valued?
Due to the scarcity and its great use, that what the people of the world decide their value, and this is merely as anything that exists that is scarce, for example, if water is scarce in any country, this makes its price increase, another example tell the extravagant car Cadillac Panther 6 which is not a car that has won races or participated in a historic event to have a value of $ 220 thousand dollars, its value is because only 2 cars were created in all the world. So this makes it clear that the value is given by people, due to their scarcity and their desire for it. It is mere supply and demand, as long as it continues to show its great value and the blockchain system cannot be hacked and someone can simply create thousands of bitcoins out of nothing, without effort as you mine (already defined by the same system).
At the time of writing the article on November 26, 2017 there is $ 301,178,401,133 USD invested in cryptocurrencies , Bitcoin has only $ 162,046,515,761 USD, with a price per bitcoin $ 9,701 USD per bitcoin.
One of the questions that people ask is: And who has all that money?
In itself all that money is the one that represents the purchase and sale between individuals, for example if I have a bitcoin that cost me $ 8,000 USD after a while, and knowing that the current price is $ 9,701 USD mentioned and I want to sell it in $ 10,000 USD , so I put a sales order and if someone wants to pay that money is transferred to me and I can make Mexican Pesos, dollars or any currency by sending them to the bank, so the answer is, there is not anyone who has all that money, but the owners of bitcoins and who want to change them at a certain time.