And the stuff the stores sell are worthless too, because you can use them to buy stuff
I guess he took too seriously the "coin" part of bitcoin
Topic: "The price of your bitcoin is 1000 times overvalued" (Read 29031 times)
Kind of funny. What is the value of of gold or diamonds by the same measure he used, since nothing can be bought directly with them
And the stuff the stores sell are worthless too, because you can use them to buy stuff
I guess he took too seriously the "coin" part of bitcoin
And the stuff the stores sell are worthless too, because you can use them to buy stuff
I guess he took too seriously the "coin" part of bitcoin
The price of gold is 1000x overvaluated !
Wait .. no it isn't.
Wait .. no it isn't.
This is not an overvalued price, because as the mining of bitcoins were limited it has got an increased demand. This increased demand to the reduced supply will make a change to the value. This at time when happens at unexpected time people term it to be overvalued.
how much does a bitcoin worth?
Some say:“Worthless. It’s just a Ponzi scheme.”
Some hail:“Priceless! It’s the future of money.”
A Chinese economist Ou Chengxiao, often nicknamed”Ou Guru” said yesterday "The price of bitcoin is 1000 times overvalued". He believed that the value of currency is decided by its scale of circulation, or adoption. But now the lack of businesses that accept the digital currency as payment has been holding bitcoin back from wider adoption. not so many people are buying things with btc.
i am a little confused why he is so sure bitcoin price is 1000 times overvalued. why not 100? 10? why exactly 1000? Do you agree with him?
Some say:“Worthless. It’s just a Ponzi scheme.”
Some hail:“Priceless! It’s the future of money.”
A Chinese economist Ou Chengxiao, often nicknamed”Ou Guru” said yesterday "The price of bitcoin is 1000 times overvalued". He believed that the value of currency is decided by its scale of circulation, or adoption. But now the lack of businesses that accept the digital currency as payment has been holding bitcoin back from wider adoption. not so many people are buying things with btc.
i am a little confused why he is so sure bitcoin price is 1000 times overvalued. why not 100? 10? why exactly 1000? Do you agree with him?
More nonsense FUD
These old people are simply unqualified to make statements about new developments in CryptoCurrencys
I guess he doesn't know how to use the internet and check the insane adoption rates around the world....
Legal currency status in Japan, India and Russia coming soon etc
Related:
In this thread an user of this forum has presented his theory about a "fair value" of Bitcoin.[...]
All things considered, for what reason do you believe it's a Ponzi plot?In this thread an user of this forum has presented his theory about a "fair value" of Bitcoin.[...]
But yes, I think currently Bitcoin is overpriced. And even if in my previous post I wasn't talking about Ponzis, I think the large bull run has to do something with individual Ponzi schemes (like the MMM-Bitcoin scheme), active in many continents, but also "Ponzi-like" thinking. People see the gigantic bull market of the last 2 years and think they will be rich quickly if they invest.
The problem is that Bitcoin's price diverged a lot from the real "usage" - that has not changed dramatically in the last year, if you look at the number of transactions. We have no clue what it's fair value is, and pablomp's approach, for me, is one of the "better tries" (it's problem is that it does underestimate the usage as a "saving" asset).
Without having any parameter to value Bitcoin correctly, it becomes essentially a "greater fool game" - people trying hard to incentive FOMO buys to be able to sell for a higher price. That's very different from a "centrally planned ponzi scheme" like the one you mention.
Related:
In this thread an user of this forum has presented his theory about a "fair value" of Bitcoin. It is based on a particular economic theory, the Quantity Theory (basically on the Equation of exchange) but I consider it a legit approach. It obviously is not 100% accurate but surprisingly can predict major trends, like he analyzed in a Steemit article (see the LTC/BTC and DASH/BTC graphs).
I quote his estimation of the "fair" Bitcoin price:
In conclusion: According to him, Bitcoin is actually about 10 times overvalued - the fair price would be around $250.
My "response" to his claims would be that Bitcoin's current price is based mostly on estimations/speculation about future transaction capacity (e.g. after Segwit, Sidechains and LN). And that can be a "legit" price, too.
All things considered, for what reason do you believe it's a Ponzi plot? On the off chance that it was which it's clearly not, it's sort of difficult to keep a trick up for right around 8 years (from 2009 to 2017). Individuals who don't comprehend the working and the framework executed say it's a trick, and about the cost being exaggerated, that is a thing to ask yourself. In this time of web and learning, is it conceivable to run a trick like over esteeming the protest and offer it? No. So bitcoin should be the place it is and will be in better place in future. In this thread an user of this forum has presented his theory about a "fair value" of Bitcoin. It is based on a particular economic theory, the Quantity Theory (basically on the Equation of exchange) but I consider it a legit approach. It obviously is not 100% accurate but surprisingly can predict major trends, like he analyzed in a Steemit article (see the LTC/BTC and DASH/BTC graphs).
I quote his estimation of the "fair" Bitcoin price:
In conclusion: According to him, Bitcoin is actually about 10 times overvalued - the fair price would be around $250.
My "response" to his claims would be that Bitcoin's current price is based mostly on estimations/speculation about future transaction capacity (e.g. after Segwit, Sidechains and LN). And that can be a "legit" price, too.
Related:
In this thread an user of this forum has presented his theory about a "fair value" of Bitcoin. It is based on a particular economic theory, the Quantity Theory (basically on the Equation of exchange) but I consider it a legit approach. It obviously is not 100% accurate but surprisingly can predict major trends, like he analyzed in a Steemit article (see the LTC/BTC and DASH/BTC graphs).
I quote his estimation of the "fair" Bitcoin price:
In conclusion: According to him, Bitcoin is actually about 10 times overvalued - the fair price would be around $250.
My "response" to his claims would be that Bitcoin's current price is based mostly on estimations/speculation about future transaction capacity (e.g. after Segwit, Sidechains and LN). And that can be a "legit" price, too.
In this thread an user of this forum has presented his theory about a "fair value" of Bitcoin. It is based on a particular economic theory, the Quantity Theory (basically on the Equation of exchange) but I consider it a legit approach. It obviously is not 100% accurate but surprisingly can predict major trends, like he analyzed in a Steemit article (see the LTC/BTC and DASH/BTC graphs).
I quote his estimation of the "fair" Bitcoin price:
In conclusion: According to him, Bitcoin is actually about 10 times overvalued - the fair price would be around $250.
My "response" to his claims would be that Bitcoin's current price is based mostly on estimations/speculation about future transaction capacity (e.g. after Segwit, Sidechains and LN). And that can be a "legit" price, too.
how much does a bitcoin worth?
Some say:“Worthless. It’s just a Ponzi scheme.”
Some hail:“Priceless! It’s the future of money.”
A Chinese economist Ou Chengxiao, often nicknamed”Ou Guru” said yesterday "The price of bitcoin is 1000 times overvalued". He believed that the value of currency is decided by its scale of circulation, or adoption. But now the lack of businesses that accept the digital currency as payment has been holding bitcoin back from wider adoption. not so many people are buying things with btc.
i am a little confused why he is so sure bitcoin price is 1000 times overvalued. why not 100? 10? why exactly 1000? Do you agree with him?
Some say:“Worthless. It’s just a Ponzi scheme.”
Some hail:“Priceless! It’s the future of money.”
A Chinese economist Ou Chengxiao, often nicknamed”Ou Guru” said yesterday "The price of bitcoin is 1000 times overvalued". He believed that the value of currency is decided by its scale of circulation, or adoption. But now the lack of businesses that accept the digital currency as payment has been holding bitcoin back from wider adoption. not so many people are buying things with btc.
i am a little confused why he is so sure bitcoin price is 1000 times overvalued. why not 100? 10? why exactly 1000? Do you agree with him?
More nonsense FUD
These old people are simply unqualified to make statements about new developments in CryptoCurrencys
I guess he doesn't know how to use the internet and check the insane adoption rates around the world....
Legal currency status in Japan, India and Russia coming soon etc
The price of your fiat is 1000 times overvalued!! 
how much does a bitcoin worth?
Some say:“Worthless. It’s just a Ponzi scheme.”
Some hail:“Priceless! It’s the future of money.”
A Chinese economist Ou Chengxiao, often nicknamed”Ou Guru” said yesterday "The price of bitcoin is 1000 times overvalued". He believed that the value of currency is decided by its scale of circulation, or adoption. But now the lack of businesses that accept the digital currency as payment has been holding bitcoin back from wider adoption. not so many people are buying things with btc.
i am a little confused why he is so sure bitcoin price is 1000 times overvalued. why not 100? 10? why exactly 1000? Do you agree with him?
Some say:“Worthless. It’s just a Ponzi scheme.”
Some hail:“Priceless! It’s the future of money.”
A Chinese economist Ou Chengxiao, often nicknamed”Ou Guru” said yesterday "The price of bitcoin is 1000 times overvalued". He believed that the value of currency is decided by its scale of circulation, or adoption. But now the lack of businesses that accept the digital currency as payment has been holding bitcoin back from wider adoption. not so many people are buying things with btc.
i am a little confused why he is so sure bitcoin price is 1000 times overvalued. why not 100? 10? why exactly 1000? Do you agree with him?
Perhaps he would be somewhat right if Bitcoin was just another centralized payment system, but Bitcoin is radically different from them, it's immutable and decentralized, and that alone is worth a lot, since there's nothing similar to it in this world (aside from alts, which are kinda like clones of Bitcoin). This means that Bitcoin can be used much more than just a currency, it's an easily accessible storage of value that can be easily moved around the world at any time. Unlike all other payment processors, it doesn't need any legal permissions to operate, so it's the first truly global digital payment system.
I just wrote this post about reasons I believe Bitcoin might be currently undervalued. Also wrote a bit on why we gotta watch out for a possible ICO Bubble . Don’t get me wrong, I’m a total crypto-enthusiast, on the other hand I try to be very logical about my analysis as an investment.
There are literally hundreds of ICOs going on right now and every single one of them gets millions invested because of a good idea basically and nothing else. There's going to be a huge crash from all of the coins that never do what they were supposed to.
I just wrote this post about reasons I believe Bitcoin might be currently undervalued. Also wrote a bit on why we gotta watch out for a possible ICO Bubble . Don’t get me wrong, I’m a total crypto-enthusiast, on the other hand I try to be very logical about my analysis as an investment.
There are literally hundreds of ICOs going on right now and every single one of them gets millions invested because of a good idea basically and nothing else. There's going to be a huge crash from all of the coins that never do what they were supposed to.
You can't please everybody to use or to believed in bitcoin however they will show some interest to use bitcoin in the future yes they might not believe because they seeing someone had the bad experience using bitcoin but then its really worth to use everybody who uses it enjoying the profit they work for hard . Bitcoin will be the future money soon as the technology and generation become more hightech.
I just wrote this post about reasons I believe Bitcoin might be currently undervalued. Also wrote a bit on why we gotta watch out for a possible ICO Bubble . Don’t get me wrong, I’m a total crypto-enthusiast, on the other hand I try to be very logical about my analysis as an investment.
Bitcoin is not over valued.If any one says it is over valued,compared to what? gold or stock markets.Bitcoin is the perfect system for sending millions of dollars to any parts of world quickly.It has intrinsic value.Some may speculate bitcoin's price to be more and if they lose,its their mistake.Bitcoin should be valued based on the under lying characteristics in it.Bitcoin is a protocol used by millions of people all over the world and it is decentralized and so works in a fair manner.
Bitcoin is neither undervalued or overvalued whatever the price bitcoin has is the right price decided by the market.
Knowing deflationary nature of Bitcoin they should also store at least some portion of bitcoin payments, it would be amazing long term investing strategy.
That would give the price a boost in the long term as it means that less coins get sold by third party payment processors, but it's only a fantasy. Volatility scares off merchants to keep a certain portion of their coins. It's easy talking for us as we can just keep holding our coins. Merchants need to pay tax over everything, use that money to buy stock, pay out employees, pay rent, etc. They simply can't afford to take a hit of 20-30% if the price suddenly happens to go down like that. Most merchants rely on constant liquidity in form of fiat -- holding Bitcoin isn't an option for them.
I think price increasing due to deflation is real and not a fantasy. Even if some merchants are quite afraid to accept Bitcoin, enthusiast will definitely push the price up. You can look at the coin collection society, the rarer the coin the higher the price, even if the coin cannot be used to buy items in the market.
You didn't understand me correctly. With fantasy I meant to say that it will most likely not happen that Bitcoin accepting merchants will keep a portion of their coins. If they would -- that directly means that less coins will get dumped on the market by the payment processors that these merchants are using, and thus results in less overall selling pressure. Again, not a likely scenario for most merchants.
So a Bitcoin should actually be worth $1? That is ridiculous.
Some millionaires like Draper would be able to buy up all the bitcoins in the world. That is not going to happen any time soon.
Lol this could be the end of bitcoin currency if bitcoin will worth for 1$ only or maybe those investors and business man who had coins for savings are going to cry and will quit bitcoin for sure I will buy lots of coins to be stock to be millionaire someday. Time can only say what will happens about bitcoin it self hence we can see it happens but we are the reason behind. Some millionaires like Draper would be able to buy up all the bitcoins in the world. That is not going to happen any time soon.
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how much does a bitcoin worth?
Some say:“Worthless. It’s just a Ponzi scheme.”
Some hail:“Priceless! It’s the future of money.”
A Chinese economist Ou Chengxiao, often nicknamed”Ou Guru” said yesterday "The price of bitcoin is 1000 times overvalued". He believed that the value of currency is decided by its scale of circulation, or adoption. But now the lack of businesses that accept the digital currency as payment has been holding bitcoin back from wider adoption. not so many people are buying things with btc.
i am a little confused why he is so sure bitcoin price is 1000 times overvalued. why not 100? 10? why exactly 1000? Do you agree with him?
Some say:“Worthless. It’s just a Ponzi scheme.”
Some hail:“Priceless! It’s the future of money.”
A Chinese economist Ou Chengxiao, often nicknamed”Ou Guru” said yesterday "The price of bitcoin is 1000 times overvalued". He believed that the value of currency is decided by its scale of circulation, or adoption. But now the lack of businesses that accept the digital currency as payment has been holding bitcoin back from wider adoption. not so many people are buying things with btc.
i am a little confused why he is so sure bitcoin price is 1000 times overvalued. why not 100? 10? why exactly 1000? Do you agree with him?
Maybe you just misheard something on what he is trying to do, maybe it is not 1000 times overvalue? maybe he means by reaching the $1000 value mark bitcoin is now an understandable key for every people to multiple their earning with bitcoin and that is the fact and I think he is just happy in saying such words that he mumble and jumble it, regarding in what he is explaining.
the price is now over than $1000 and its more than 1000 times as Ou Guru said and i think he is right to predict like that. and now the price is still moving into higher price and we can not know in how much the price will increase. we know that bitcoin will increase the value and now the value reach high.
how much does a bitcoin worth?
Some say:“Worthless. It’s just a Ponzi scheme.”
Some hail:“Priceless! It’s the future of money.”
A Chinese economist Ou Chengxiao, often nicknamed”Ou Guru” said yesterday "The price of bitcoin is 1000 times overvalued". He believed that the value of currency is decided by its scale of circulation, or adoption. But now the lack of businesses that accept the digital currency as payment has been holding bitcoin back from wider adoption. not so many people are buying things with btc.
i am a little confused why he is so sure bitcoin price is 1000 times overvalued. why not 100? 10? why exactly 1000? Do you agree with him?
Some say:“Worthless. It’s just a Ponzi scheme.”
Some hail:“Priceless! It’s the future of money.”
A Chinese economist Ou Chengxiao, often nicknamed”Ou Guru” said yesterday "The price of bitcoin is 1000 times overvalued". He believed that the value of currency is decided by its scale of circulation, or adoption. But now the lack of businesses that accept the digital currency as payment has been holding bitcoin back from wider adoption. not so many people are buying things with btc.
i am a little confused why he is so sure bitcoin price is 1000 times overvalued. why not 100? 10? why exactly 1000? Do you agree with him?
Maybe you just misheard something on what he is trying to do, maybe it is not 1000 times overvalue? maybe he means by reaching the $1000 value mark bitcoin is now an understandable key for every people to multiple their earning with bitcoin and that is the fact and I think he is just happy in saying such words that he mumble and jumble it, regarding in what he is explaining.
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