Viewing a response to: @jrcornel/is-it-possible-to-find-bitcoin-s-intrinsic-value
Thank you @jrcornel A very fun exercise. Of course, you are presuming that 100% of the illegal trade is captured by bitcoin and we both know the USD isnt going to give up that market without a fight. Value is basically a social agreement that exists between people. We agree what something is worth. At one time, people thought Cabbage Patch Dolls has a value...not it is agreed upon that they dont. The USD is agreed upon to have value mostly from its backing by the US Government which means something to a lot of people. That might not always be the case. Bitcoin, in and of itself, has no value..just like everything else. In the end though, I think people will turn to this mechanism as a store of value.
| author | taskmaster4450 |
|---|---|
| permlink | re-jrcornel-is-it-possible-to-find-bitcoin-s-intrinsic-value-20170913t185748759z |
| category | bitcoin |
| json_metadata | {"tags":["bitcoin"],"users":["jrcornel"],"app":"steemit/0.1"} |
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| jrcornel | 0 | 36,929,410,664 | 1% | ||
| guttormf | 0 | 10,183,559,924 | 13% | ||
| wanderingmind | 0 | 166,839,580 | 100% | ||
| fidingmyway | 0 | 406,212,835 | 100% |
very true!!
| author | fidingmyway |
|---|---|
| permlink | re-taskmaster4450-re-jrcornel-is-it-possible-to-find-bitcoin-s-intrinsic-value-20170914t113510197z |
| category | bitcoin |
| json_metadata | {"tags":["bitcoin"],"app":"steemit/0.1"} |
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| root_title | "Is it possible to find Bitcoin's intrinsic value?" |
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So you caught that, a very big presumption on my part indeed. ;) If Bitcoin were only half of that market you could cut the price prediction in half and maybe that is a better measure. As you can see, there are many variables in this "analysis". Great comment by the way!
| author | jrcornel |
|---|---|
| permlink | re-taskmaster4450-re-jrcornel-is-it-possible-to-find-bitcoin-s-intrinsic-value-20170913t191058818z |
| category | bitcoin |
| json_metadata | {"tags":["bitcoin"],"app":"steemit/0.1"} |
| created | 2017-09-13 19:10:57 |
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| voter | weight | wgt% | rshares | pct | time |
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| wanderingmind | 0 | 163,212,633 | 100% | ||
| taskmaster4450 | 0 | 270,212,767 | 1% | ||
| conchita | 0 | 613,543,514 | 100% |
I just love when people try to attack Bitcoin by saying that it is used for illegal activities. What do they think this is?  There were more drugs bought in the last week using USD than there are bitcoin in existence. A truly stupid attack on BTC and defense of the USD.
| author | taskmaster4450 |
|---|---|
| permlink | re-jrcornel-re-taskmaster4450-re-jrcornel-is-it-possible-to-find-bitcoin-s-intrinsic-value-20170913t192630024z |
| category | bitcoin |
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