Anyone noticed that the value of Bitcoin has risen quite a lot the last half year, regardless the price of bitcoin?
Whoa what do you mean by that? The price is the measure of how valuable a Bitcoin is, isn't it? I don't seem to be getting what you're trying to say here. Please enlighten us, man
The utility of bitcoin is the sum of the benefits derived from its applications by its users.
The value of bitcoin is the size of its transactional economy over a given period.
The price of bitcoin is wherever the market happens to clear.
Only in the case of perfectly rational actors under perfectly efficient condtions will these three coincide.
I don't agree, this is just delusional stuff you are talking, a value of a bitcoin is exactly what it can be exchanged for (in terms of goods and services) compared to what can a dollar (or gold, Euro, Yen...) be exchanged for.
Edit: with this logic: gold has no value and a visa card have more value than a Bitcoin.... see this is just horseshit.
No ... that is the PRICE of Bitcoin, not is VALUE, they are two totally different things (and WORTH is different thing all together again)
PRICE is arrived at often where supply meets demand, and the demand of something comes from how much VALUE is placed on it by people -VALUE is usually quite subjective whilst PRICE is not.
SUPPLY - DEMAND
VALUE - PRICE
PRICE is what you pay and VALUE is what you get.
This is stuff people should learn in high school and I cannot believe this conversation is happening at all tbh
I don't care what they taught you in school but a value of a thing is what it can be exchanged for (which in our age is compared to the currency we use)...the price is defined by supply and demand.
your logic is the following: a horse shit value is very high because it can be used for agricultural needs, but because there is no demand and the supply is high the value didn't meet the price, is that what you want to teach me ?
Nothing to do with school, I am just surprised we are back here again.
ok ... so do you have a wife or children? I usually do this with hand drawn pictures as the example but today I think fingers suit better...
So say you have a wife and children ? How valuable to you (and them) are their fingers? to me they are WORTH nothing... and the PRICE I give you for them
on the open market is $0
Lets switch this around- do your wife and childrens fingers have any VALUE to you? if so how much are they WORTH to you? and what PRICE will you pay to keep them all in one place with fingers attached to loved ones? more than my PRICE of $0? I bet and why is that? it is because they have more VALUE to you then they do to me, for me the PRICE for your loved ones fingers is $0 for you I imagine and hope a very large figure lets say $100,000 or more
So my VALUE for fingers of your loved ones = Nothing
Your VALUE for fingers of loved ones = Lots
The PRICE I would pay for your loved ones fingers = $0
Your PRICE you would pay for your loved ones fingers = $100,000
Also - you can make inference on the supply and demand- lets try this again with your loved ones hair- there is a large supply of hair - would you pay $100,000 if someone was to cut off your loved ones hair? no and why not ? BECAUSE THERE IS A LARGER SUPPLY!!! and you do not place as much VALUE on the WORTH of your loved ones hair because there is plentiful SUPPLY- and therefore I nor you have any DEMAND for the HAIR , which is why there is NO VALUE, and NO WORTH to the hair- Something with plentiful SUPPLY and LOW DEMAND will have a LOW PRICE -
Fingers and heads of loved ones come with a very limited SUPPLY - and also a high VLAUE AND WORTH to you - and so therefore if you had to you would pay a HIGH PRICE to acquire your loved ones back plus all FINGERS AND TOES AND HEAD.
Get it? VALUE and PRICE and WORTH are different things...
SUPPLY AND DEMAND plays an important role...
VALUE is SUBJECTIVE and PRICE IS NOT ...
another example- you are in a desert- starving and dehydrated - but you have a large bar of gold... you are dying , you need water or you will die...
I come across you , and I offer you WATER for GOLD...
But this Gold is worth $1 million dollars you cry...
But I live in the desert I reply and I have no use for GOLD , I already have lots of gold, an dI will happily live without anymore
Well I will not give you $1 million in GOLD for WATER...
Ok cheerio then g'bye...
NO WAIT YOU CRY (realising you will die) I WILL MAKE THE DEAL...
Then we exchnage the 1 million worth of GOLD for WATER and some FOOD, and you survive...
I and my donkeys walk off with 1 MILLION WORTH OF GOLD
Why would this happen? did the PRICE of the GOLD change during this ? nope it was and still is worth 1 MILLION....
What changed? the VALUE and what it was WORTH to you changed... the PRICE stayed the same ...
Also if there was a greater SUPPLY of WATER, then your DEMAND would not have been so great... and so it would not have been WORTH as much to you.
The Price of the GOLD Remains the PRICE - the VALUE is SUBJECTIVE ... just like with your loved ones fingers and toes.
ps Also your horseshit thing is not making sense... there is a value to it (it is useful) but not hugely so.. but there is a plentiful supply - a HUGE supply never ending- and so the DEMAND is not so great- there is still a VALUE to it, and therefore SOME DEMAND and so there is a PRICE reached , but the price for a horse owner, (or his neeeeighbour) who has a greater supply, is much lower than it would be for a city dweller who goes to a garden center and buys that shit (hee hee)
Poll
