The fund manager in New York teaches you how to price bitcoin

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In the financial markets of the 2017, the most concerned financial instruments were all kinds of encrypted currencies. These encrypted currencies are not only a hundred times as many times as many times this year, but also with a lot of financial innovation.

According to the current incomplete statistics, about 1600 kinds of encrypted currencies have been traded on various markets. Of course, the most old encryption currency should be bitcoin.

Bitcoin originated in the short article of "bitcoin: a P2P electronic cash system" (Note 1) in 2009. For the technical details of bitcoin, you can download this classic reference.

Of course, with the continuous development of bitcoin, the controversy over bitcoin is also all the time. This article will focus on the theme of "how to use classic theory to price the bitcoin", and to make a thorough analysis of these disputes.

Recently, the value of the investment two veteran Buffett and Munger for bitcoin have published a variety of views. The author first quotes the old Mr. Buffett's discussion about bitcoin: financial instruments can be divided into two categories:

1, holding this financial product itself can produce income;

2, it is expected that the financial product needs to be sold to the next family to gain income, and bitcoin is of course the latter.

Of course, the key point here is that Mr. Buffett did not say that bitcoin could not invest or speculate, but that he only invested in the first type of assets.