It's possible that the price of bitcoins is based on a demand only. What I mean is that people may want bitcoins for the potential and are demanding it as an investment which makes the price go up. But if people want it for that price, then isn't that what it is worth?
That's it, in a way. The demand is far greater than supply, but we have to agree that there is a supply. Out of the coins in circulation much is forever gone, lost on some unused wallers or damaged hard drives. Much is in the hands of early holders, who took their profits and have enough to live comfortably, so they have no need to sell their stashed coins. This limits the real supply, the one available to new consumers, to maybe 50% of the coins mined to date. The prices are just an illustration of the current state of affairs. 
Topic: "The price of your bitcoin is 1000 times overvalued" - page 4. (Read 29031 times)
I think the economist is correct! Bitcoin itself is intrinsically worthless, just like seashells are worthless but were used as money in the past.
Bitcoin is now worth >$1000 just because it has gained acceptance by more and more people- this is where its value lies.
Agreed, but think for a moment about the population that has given bitcoin its value: Speculators. Drug dealers. Arms dealers. Illegal pornographers. Hardcore gamblers. Speculators. Speculators. Speculators. Don't know about you, but that gives me pause. Interest rates have been at about zero for years, and people have been borrowing money on the cheap for years--and assets have inflated like crazy (stocks, houses, bitcoin, etc.). You watch if interest rates start to climb. Precious metals will start going up again, and bitcoin may head to the toilet. It's scary if you think about it. Bitcoin is now worth >$1000 just because it has gained acceptance by more and more people- this is where its value lies.
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?
The guy is just stating his opinion, so it does not mean that it is true. I can say and state that Bitcoin is 100,000 times undervalued and state the reason about adoption. This means each person have their own opinion over Bitcoin price but in the reality, the price tells us what is the current Price Value of Bitcoin.
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?
bitcoin price is suply and demand, if demand big so bitcoin price can incraese
if you say 1000 dollar over value, and you want bitcoin price down to 10 dollar, i think bitcoin can die if real down to 10 dollar
or another coin can replace position bitcoin
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?
It's possible that the price of bitcoins is based on a demand only. What I mean is that people may want bitcoins for the potential and are demanding it as an investment which makes the price go up. But if people want it for that price, then isn't that what it is worth?
Digital era is knocking on our doors, people are online all the time with little computers in their pockets, sooner or later everything will be digital. Price of bitcoin is not overvalued, its just reflection of the demand and supply, and more people is involved now then ever before
Cheers! I agree, totally. Those who resist the concept of digital money are going to be surprised when there bank notes become worthless. The naysayers will simply be left behind, and we can look back through the wake of our digital waves and say "told ya!"
Bitcoin is overvalued if you only view it as a currency rather than a store of value, but in my view it's both. It's important that its asset-like qualities are recognised by investors due to its artificial scarcity and that will result in huge price increases which are necessary for stability and potentially more adoption in the future.
Digital era is knocking on our doors, people are online all the time with little computers in their pockets, sooner or later everything will be digital. Price of bitcoin is not overvalued, its just reflection of the demand and supply, and more people is involved now then ever before
Cheers! I agree, totally. Those who resist the concept of digital money are going to be surprised when there bank notes become worthless. The naysayers will simply be left behind, and we can look back through the wake of our digital waves and say "told ya!"
However, fiats are still in use and many banks started implementing online banking facilities and other mode of bank facilities in the rural areas as well. Price value of the concern currency and share value bank will remain same only, where will become worthless. that do not know.
I wish to bitcoin to rule overall bank institution and expecting bitcoin will be made international transaction to transfer the mone instead of paying forex charges and other fees over it.
Digital era is knocking on our doors, people are online all the time with little computers in their pockets, sooner or later everything will be digital. Price of bitcoin is not overvalued, its just reflection of the demand and supply, and more people is involved now then ever before
Cheers! I agree, totally. Those who resist the concept of digital money are going to be surprised when there bank notes become worthless. The naysayers will simply be left behind, and we can look back through the wake of our digital waves and say "told ya!"
Digital era is knocking on our doors, people are online all the time with little computers in their pockets, sooner or later everything will be digital. Price of bitcoin is not overvalued, its just reflection of the demand and supply, and more people is involved now then ever before
Cheers! I agree, totally. Those who resist the concept of digital money are going to be surprised when there bank notes become worthless. The naysayers will simply be left behind, and we can look back through the wake of our digital waves and say "told ya!"
I heard many times that bitcoin is one big ponzi scheme, but that was from the people outside bitcoin community. For me this is one more newbie that comes here to talk bad about bitcoin, or digital currencies, and that is opposite from my beliefs. Digital era is knocking on our doors, people are online all the time with little computers in their pockets, sooner or later everything will be digital. Price of bitcoin is not overvalued, its just reflection of the demand and supply, and more people is involved now then ever before.
I don`t agree with this Chinese economist, he have his opinion and I have mine, period.
I don`t agree with this Chinese economist, he have his opinion and I have mine, period.
I think the economist is correct! Bitcoin itself is intrinsically worthless, just like seashells are worthless but were used as money in the past.
Bitcoin is now worth >$1000 just because it has gained acceptance by more and more people- this is where its value lies.
I had a really good laugh reading that some people are really thinking that bitcoin is some kind of a Ponzi scheme.Bitcoin is now worth >$1000 just because it has gained acceptance by more and more people- this is where its value lies.
Tell me you geniuses, how is it possible that bitcoin is a ponzi, when the source code is available for everyone, who has internet connection?
There is no mystery in it, everyone can look into the code, because it is open source right?
Bitcoin is worthless?
It may be overvalued a little bit, but as we can see we dont have some strange price drops from 1200$ level to 1000$ just for few seconds, and im sure that would happen if bitcoin price would be overvalued.
Im waiting for some real proofs that we should pay 1000 times less for 1 bitcoin than we do now. So far, I have found none.
Exactly. If bitcoins are a ponzi scheme then my whole life is a ponzi scheme too. Email is a ponzi. They steal your computer's electricity to send messages accross the world. That's a waste of electricity! Ponzi! Also, the internet is a ponzi. Someone somewhere is making money off of the internet. I know, it's open source but someone is making money!? Omg ponzi. Shock of a lifetime here folks.
This is hilarious, thanks for the laughter guys, I can't stop chuckling. I wish there was a like button. "PONZI" is one of those terms people stopped using correctly in the recent years. Sort of like the word "spam". Usually when someone calls bitcoin a ponzi they either have deep pockets in traditional fiat somewhere and they are threatened by their crumbling future or they simply don't know how to do their own research and they believe what there old uncle said at dinner last week when bitcoin was the subject.
I recently estimated the value of bitcoin today, if it is used to facilitate global trades, at over $220,000.
Actually this kind of calculations - "bullish future estimations" - make Bitcoin worth $1200 at this moment. If present use was the major factor in its valuation - e.g. people thinking that Bitcoin would have the same acceptance like now, forever - its price would be much lower.
Economists often adhere to the Monetarist school and use the quantity theory of money (M*V=P*Q). Particularly V (money velocity) and Q (transaction number) are pretty low at the moment, as most Bitcoins are "hodl'd". That would limit the "theoretic price" of a Bitcoin token (which depends on P) if we hadn't bullish future expectations. (I would actually like to see a calculation of this kind for Bitcoin, e.g. taking into account the daily transaction volume.)
I think the economist is correct! Bitcoin itself is intrinsically worthless, just like seashells are worthless but were used as money in the past.
Bitcoin is now worth >$1000 just because it has gained acceptance by more and more people- this is where its value lies.
I had a really good laugh reading that some people are really thinking that bitcoin is some kind of a Ponzi scheme.Bitcoin is now worth >$1000 just because it has gained acceptance by more and more people- this is where its value lies.
Tell me you geniuses, how is it possible that bitcoin is a ponzi, when the source code is available for everyone, who has internet connection?
There is no mystery in it, everyone can look into the code, because it is open source right?
Bitcoin is worthless?
It may be overvalued a little bit, but as we can see we dont have some strange price drops from 1200$ level to 1000$ just for few seconds, and im sure that would happen if bitcoin price would be overvalued.
Im waiting for some real proofs that we should pay 1000 times less for 1 bitcoin than we do now. So far, I have found none.
Exactly. If bitcoins are a ponzi scheme then my whole life is a ponzi scheme too. Email is a ponzi. They steal your computer's electricity to send messages accross the world. That's a waste of electricity! Ponzi! Also, the internet is a ponzi. Someone somewhere is making money off of the internet. I know, it's open source but someone is making money!? Omg ponzi. Shock of a lifetime here folks.
I think the economist is correct! Bitcoin itself is intrinsically worthless, just like seashells are worthless but were used as money in the past.
Bitcoin is now worth >$1000 just because it has gained acceptance by more and more people- this is where its value lies.
I had a really good laugh reading that some people are really thinking that bitcoin is some kind of a Ponzi scheme.Bitcoin is now worth >$1000 just because it has gained acceptance by more and more people- this is where its value lies.
Tell me you geniuses, how is it possible that bitcoin is a ponzi, when the source code is available for everyone, who has internet connection?
There is no mystery in it, everyone can look into the code, because it is open source right?
Bitcoin is worthless?
It may be overvalued a little bit, but as we can see we dont have some strange price drops from 1200$ level to 1000$ just for few seconds, and im sure that would happen if bitcoin price would be overvalued.
Im waiting for some real proofs that we should pay 1000 times less for 1 bitcoin than we do now. So far, I have found none.
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?
Huge Bitcoin price is in speculation and not actual use. Huge part of Bitcoin economy are altcoins. Bitcoins price would be way lower if it would have higher inflation.
He is just speculating. Just like the other guy who says that "it will reach 500k$ in the future."
For now, people believe that it's price should be around 1200$ and it can either go to 500k$ or 1$ in the future. All of those are possible. The bad thing about bitcoin is that it's open source. That means it not unique. Any altcoin can do the same thing as bitcoin. Ironically, being open source also makes bitcoin what it is now and makes it powerful.
For now, people believe that it's price should be around 1200$ and it can either go to 500k$ or 1$ in the future. All of those are possible. The bad thing about bitcoin is that it's open source. That means it not unique. Any altcoin can do the same thing as bitcoin. Ironically, being open source also makes bitcoin what it is now and makes it powerful.
Exactly what I say, especially because of the open source peer to peer nature of the blockchain it can demolish itself completely or it can rise continuously for the same reason. Almost as if a democracy: we the users decide ultimately, in a perfect world, what the value is of our beloved bitcoin. It really does boil down to you and me and how we spend our coin.
I think it's intended as a figure of speech, not a precise estimate. Essentially, he's saying, "It's massively overvalued."
Nah, when you put a factual number on something like that it's because he thinks it's a fact. He did some sort of math and decided it was about 964x overvalued so rounded that up to 1000 for dramatic affect. He's just your typical middle child syndrome narc that's looking for some attention. We should stop giving it to him.
I think the economist is correct! Bitcoin itself is intrinsically worthless, just like seashells are worthless but were used as money in the past.
Bitcoin is now worth >$1000 just because it has gained acceptance by more and more people- this is where its value lies.
Nothing really has intrinsic value, but as people begin to find uses for it then the need for that product or that service goes up and then we see people willing to pay for it, at first bitcoin had no value except as an incredible experiment but as it gained acceptance we have been able to reach this point where a single bitcoin is worth much money. Bitcoin is now worth >$1000 just because it has gained acceptance by more and more people- this is where its value lies.
you mean to say bitcoin was suppose to be valued about a dollar right about now 
imo bitcoin has seen its worst days and put into consideration how long its taken to get at its current price...its valued right and we are responsible for its value!
imo bitcoin has seen its worst days and put into consideration how long its taken to get at its current price...its valued right and we are responsible for its value!
Well, all I can say is that this guy must be feeling so authoritative. Is he the brother of Satoshi Nakamoto. In fact, he is just unknown and whatever he might be saying has no bearing on the value and the future of Bitcoin. The value of Bitcoin now is reflecting also the possible future value it might have...it is just the same with stocks as businesses with good future can have more valuable stocks.
He can just be saying it so tat Bitcoin can devalue just like what China did to yuan and then he can buy more Bitcoin...must be feeling bad that he did not bought Bitcoin when the value was still low. Funny guy...at least he is now part of the Bitcoin history on the naysayers side.
He can just be saying it so tat Bitcoin can devalue just like what China did to yuan and then he can buy more Bitcoin...must be feeling bad that he did not bought Bitcoin when the value was still low. Funny guy...at least he is now part of the Bitcoin history on the naysayers side.
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