Bitcoin Forum

"Economists discover true 'value' of $8k Bitcoin - a lowly $20"

https://www.express.co.uk/finance/city/948252/Bitcoin-price-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news

the article talks about two economists estimating the true value of bitcoin that is "a cryptocurrency made of code with no country enforcing it, no central bank controlling it, and few places to spend it" as the article reads; I think this is a load of crap and these people shouldn't be taken seriously however the article if anything highlights the fact that BTC is not being used and that the price is mostly speculative. I think if cryptocurrencies were integrated in businesses and economies we would see the true value for them.

Can't you see what the article says about those economists? They are Wine buddies. The price that they arrived is at $20? Seriously that tells on how they are failed economists. And by reading the article, it's more of an editorial which basically more of the post are giving negative factors about bitcoin. That "OUCH." though.
These economists needs to take a rest, they are drunk.

You say good and funny ^^
Before making the decision economists they depend on each different emotion. Comments may vary, maybe this person is involved or not. Most are just like predictions. Not very good, I think we should consider later to make their conclusions. Then enter the market.

....

Well, imagine if you had a degree in economics. Where would you find a job or someone willing to pay for your services?

I think a good chunk of economics jobs are offered by banks, hedge funds, investment firms -- institutional finance.

Now imagine you're an economist and you say good things about bitcoin publicly. Your remarks conflict with the views of your boss who is a banker. He fires you. All of the banks that are likely to hire you as an economist refuse to give you a job as you're the only "pro bitcoin" economist in the country and they decide to make an example out of you.

Maybe you see where I'm going with this? Anyways, there aren't many independent economists in the world who aren't employed banks or institutional finance. And independent economists who are likely to be honest about bitcoin are never given a media platform where their words are likely to reach many ears.

And so it could be safe to say that the only thing about bitcoin economists are saying are what their banker and institutional finance bosses want them to say? If that's a fair analysis.

I think bitcoin is the future of money and the developers are trying to create another level of finance for us.  To me bitcoin has value and of a truth the future will tell if bitcoin is a speculatives and not of value.  The governments especially the Third World nations can only come out of extremely financial crisis by adopting cryptocurrencies.

These are the old school economists that struggle with the idea that someone might be willing to pay $80 000 for a weapon skin that were custom made for a digital item in a game. <Counter strike>

These people also believe that it is impossible for people to buy virtual property in online games.  ::)

So convincing them to believe that it is possible to pay $19 000 for a digital token/currency is simply too complex for their old school brains. They only support the things that they were taught by their economic professors.  ;D ;D ;D  

...no centralized authority to dictate how you use your own money
...highest security possible
...the best privacy that you can hope for when making payments
...offers protection for merchant from charge back frauds that is common
...being scarce
and a lot more. these may sound simple in words but if you start thinking deeply about them you can see what the "true value" of such system is.

you expect such statements from people on a forum with lack of education and being lazy to do a quick search. but you'd expect someone who writes an article to at least google where you can spend bitcoin and see how many are spending. i keep reporting bitpay because it is the easiest reference: $110 million per month in 2017!

Its a FUD,, they dont know what theyre saying.. blockchain is the future and by the looks of it btc will be tne primary currency on it,,

I guess they are full of it. The true value of Bitcoin is what people are willing to pay for it, and as of now it's $8,000.

Putting a "true" price on Bitcoin actually meaningless, since everything, even the dollar, is all based on what people are willing to give for it, and not what some random person with a voice think it should be.

The things they teach are just basic knowledge in electronic finance. However, in the electronic market it is completely different from other markets. Expressing high-speed, fast-moving numbers is hard to predict.

You say absolutely right. Actually there are a lot of businesses using Bitcoin to pay for their plan execution costs but they do not notice. Because Bitcoin is still pending worldwide approval and Bitcoin use for payment should be kept secret. Because the governments will be involved in these cases and they will be in trouble. I'm still waiting for Bitcoin to be announced that can be paid around the world.

Fuck these people. These economists aren't accomplishing anything, instead of them saying crap about bitcoin, why don't they focus on recession and world Economic crisis? Oh wait, they can't. They stupid as fuck. They have knowledge , but just not the brains to use that knowledge. I mean, these economists couldn't predict the Great Depression nor did they predict the recession, so sure this prediction of bitcoin's true value is legit.  ::)