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(Bloomberg)   Fark ready headline: The value of a bitcoin is "somewhere between $20 and $800,000, according to economic theory and a night of drinking"   ( bloomberg.com) divider line
    More: Interesting, Money, quantity theory, Bitcoin, Quantity theory of money, Value, Ctes du Rh, du Rhne theory, Economics  
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607 clicks; posted to Business » on 19 Apr 2018 at 5:20 PM (33 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



16 Comments     (+0 »)
 
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2018-04-19 02:18:43 PM  
files.explosm.netView Full Size
 
2018-04-19 04:56:42 PM  
Economic theory, a night of drinking, and an answer that might be wrong by several orders of magnitude. Oh, how I miss college.
 
2018-04-19 04:59:27 PM  
That's easy. All assets are bubbles. Eventually the world will end, and nobody will buy what you're selling at any price. So keep your treasures safe in heaven.

/I mean, if we're already talking shiat...
 
2018-04-19 05:23:21 PM  
All the bitcoins in the world don't have enough value to buy a single Dutch tulip.
 
2018-04-19 05:34:22 PM  
Didn't read the article. But if you can sell it now for 8000k, why is it not then worth 8000k?

Or are they talking potential investments.
 
2018-04-19 05:43:56 PM  
How many bitcoins will it cost to buy Flooz or Beenz?
 
2018-04-19 05:45:29 PM  

SkylineRecords: Is this still an intriguing investment, or has the rest of society caught up to the fact that you shouldn't buy actual stock in a company that doesn't do anything except facilitate the trade of black market goods?


A) Bitcoin isn't a stock, or a company
B) Bitcoin isn't really used for illegal goods more than other currencies. (as per this, and other studies: https://www.forbes.com/sites/astanley​/​2018/04/18/quebec-chief-scientist-bitc​oin-not-a-magnet-for-illicit-transacti​ons/#286ded7a37f5 )
 
2018-04-19 06:02:04 PM  

Lord Bear: B) Bitcoin isn't really used for illegal goods more than other currencies. (as per this, and other studies: https://www.forbes.com/sites/astanley/​2018/04/18/quebec-chief-scientist-bitc​oin-not-a-magnet-for-illicit-transacti​ons/#286ded7a37f5 )


and that would mean something if:
1) it wasn't behind Forbes' paywall
2) it wasn't Forbes to begin with
3) there were actually any way to trace Bitcoin and therefore actually have, you know, reliable data
 
2018-04-19 06:10:16 PM  
My estimate put Bitcoins True Value at about $2,500 today. It could be worth up to 70,000.

Making massive assumptions of course.
 
2018-04-19 06:13:22 PM  
what a coincidence thats exactly how much money I have in my checking account.
 
2018-04-19 06:27:45 PM  
Sailing Starflower:
3) there were actually any way to trace Bitcoin and therefore actually have, you know, reliable data

There are several ways to trace bitcoin. Its not anonymous as you think.  Amazon even filed a patent on it.  http://darkcitycrypto.com/index.php/2​0​18/04/19/amazon-filed-a-patent-to-de-a​nonymize-bitcoin-transactions-and-sell​-the-data-to-law-enforcement/
 
2018-04-19 07:48:15 PM  
It's worth whatever someone is willing to pay for it, which is nothing if it's just a fad that people will get tired of in a few years.
 
2018-04-19 07:50:34 PM  

SkylineRecords: Is this still an intriguing investment, or has the rest of society caught up to the fact that you shouldn't buy actual stock in a company that doesn't do anything except facilitate the trade of black market goods?


surely you troll.
 
2018-04-19 08:23:55 PM  

Ishkur: It's worth whatever someone is willing to pay for it, which is nothing if it's just a fad that people will get tired of in a few years.


Yes, this is what they teach in econ101.
 
2018-04-19 08:44:56 PM  

Catlenfell: How many bitcoins will it cost to buy Flooz or Beenz?


you'll never get any Whuffie for one
 
2018-04-19 09:09:22 PM  
I'm just glad all the BTC fanboys have shut up about it.  At least outside of Bitcoin/crypto specific forums.

'NO MAN - it's not a bubble!  It's a fundamental change in the blah, blah, blah'

Followed by, 'Well, if you bought six months ago you're still up XX%!'

Followed by, 'Well, of course that was unsustainable, but BTC is still the future man...'
 
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