Topic: Alternative Valuations (Read 253 times)

So if we are to be serious about defeating the legacy fiat value systems, we need to train ourselves and others out of the habit of valuing cryptocurrency in USD/EUR/CNY/JPY/etc. Maybe this isn't critical yet (and surely any fiat comparison will still retain validity) but we can have fun brainstorming!

Now there is no cap on number of possible cryptocurrencies, only a soft limit determined by support/usage. I thought it would be a better (or at least novel) approximation to compare Bitcoin to single things in turn than to attempt to assign it some arbitrary portion of all perceived value.

The comparison that I came up with was land. Land ownership has been possibly the most persistent store of value since humans cared about such things. It is both finite and productive.

If Bitcoin becomes known as Landcoin and is used to represent all surface land (not including bodies of water, that would be Wetcoin, silly) in value and transaction, one BTC would be worth approximately 148 300 000/21 000 000 = 7.06 square kilometers of land! That's 1 745 Acres!

Obviously this comparison is purely theoretical. But enough different comparisons can give us new perspectives of where we might be headed.

Can anyone else come up with alternative valuation methods? If we eventually compile a list of most significant systems of value, they can be compared to another (future) brainstorm session where we evaluate the global capacity for different cryptocurrency systems. This is a lofty goal, but acutally capable of providing some realistic data of Bitcoin (and other coins) true value potentials.