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Question: What is the current *actual* worth based solely on usage?
above $10000 - 11 (24.4%)
$1000-$10000 - 10 (22.2%)
$500-$1000 - 7 (15.6%)
$250-$500 - 7 (15.6%)
$100-$250 - 3 (6.7%)
$100-$50 - 4 (8.9%)
below $50 - 3 (6.7%)
Total Voters: 45

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Author Topic: What do you think is the fundamental worth of bitcoin currently?  (Read 1755 times)
zby
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September 09, 2014, 11:27:01 AM
 #21

There is no fundamental worth of bitcoin - just like there is no fundamental worth of dollar. You exchange your work or goods for dollars because you speculate that you'll buy something else with it - there is no use of dollars as such - they are only used for exchange for something else.
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An amorous cow-herder
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September 11, 2014, 06:28:58 PM
 #22

There is no fundamental worth of bitcoin - just like there is no fundamental worth of dollar. You exchange your work or goods for dollars because you speculate that you'll buy something else with it - there is no use of dollars as such - they are only used for exchange for something else.
The fact that something is used as a means of exchange is a part of its fundamental value. If, e.g. oil were no longer traded in USD, its value would go done. Because fewer people need the dollars, even if just temporarily. The "temporarily thing" relates to velocity. In the real world people usually get paid monthly, and spend a large amount before the next month. So, e.g. if 2 million people had their wages paid in BTC and had an average wage aquivalent to $5k the market value, for purely fundamental reasons, would have to be at least $10B (otherwise not everyone could get their wage at the beginning of the month)
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September 11, 2014, 06:37:04 PM
 #23

This is really weird.
More than half the people seem to believe the fundamental value of BTC is over $1k currently, with a lot even believing it is above $10k.

Since market value is basicly fundamental value plus speculative markup, pretty much the only interpretation is that the speculative surcharge is at least -95%.
If this were a company that would basicly mean something like "the current quarter was phenomenal, but unfortunately its doomed to extinction most likely anyway".

Now i really dont understand why anyone would be so bearish, maybe fallling had a dozen alts check that option.
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September 11, 2014, 08:35:45 PM
 #24

Extremely difficult to say. Bitcoin surely has a value as a technology to transact value. By doing so, it isn't inferior to FIAT money at all. Which currency is still backed by Gold? Gold's inherent value isn't that hight, anyways!

I should have gotten into Bitcoin back in 1992...
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September 11, 2014, 09:04:34 PM
 #25

... it isn't inferior to FIAT money at all. Which currency is still backed by Gold? Gold's inherent value isn't that hight, anyways!

What people on bitcointalk call fiat* hasn't been backed by gold for quite some time.  The word means "a command or act of will that creates something without or as if without further effort."
Fiat is backed by governments, by decree.  It's backed by nothing else.

*All lowercase letters, BTW.  FIAT is a car company, all caps 'coz it's an acronym--either for Fabbrica Italiana Automobili Torino, or Fix It Again, Tony--depending on who you ask.

And another thing, you rotten kids! Stay off my lawn!!!!
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