Topic: "The price of your bitcoin is 1000 times overvalued" - page 5. (Read 29031 times)
I think it's intended as a figure of speech, not a precise estimate. Essentially, he's saying, "It's massively overvalued."
The one that said bitcoin is overvalued is the one that never used bitcoin, and the one that too afraid to try a new thing, I think bitcoin is still undervalued, there are still so many things that can be achieved from bitcoin, but I understand that bitcoin still in progress of developing so there will be a lot of controversial and there will be a lot of people underestimate 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?
Bitcoin isn't interested in the opinion of one man.
Mao Zedong's "revolution" was funded by foreign bankers.
Today, china is still heavily influenced by foreign banks.
That's why china will always push for "regulation" or if they can't have regulatory control over crypto, they will try to destroy it.
China will always work in the best interests of bankers rather than what is best for ordinary people.
Today, china is still heavily influenced by foreign banks.
That's why china will always push for "regulation" or if they can't have regulatory control over crypto, they will try to destroy it.
China will always work in the best interests of bankers rather than what is best for ordinary people.
Lol 1000x overvalued! Hahaha I'll gladly take a few bitcoins for a few bucks off of him. No problem.
The American dollar is 10,000x overvalued IMO. Now it's a fact, because I said it. Although if they just keep printing money and printing money every year soon they'll be at their true value (worthless).
The American dollar is 10,000x overvalued IMO. Now it's a fact, because I said it. Although if they just keep printing money and printing money every year soon they'll be at their true value (worthless).
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?
I agree and this is why I'm keeping a couple bitcoins aside for retirement. Not gonna spend them I add small amounts each month and I will keep that for when bitcoin takes off and the. I'll be able to retire. Everyone should be doing this right now. Stash them coins.
how much does a bitcoin worth?
Some say:“Worthless. It’s just a Ponzi scheme.”
Some say:“Worthless. It’s just a Ponzi scheme.”
A ha; I would like to read this. Would be funny after 8 years someone to give adequate reasons why he believes something like that
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Some hail:“Priceless! It’s the future of money.”
Why not. Yesterday, I read this that in Japan after the recent legislation about 260,000 stores will accept bitcoin as payment this summer.
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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?
I found the english translation from this post here I don't know the famous 'guru' economist but if someone wants to search for him in english google the first result is only this thread. Therefore, I am pretty confident that he is not so famous as OP stated and I believe that is only a charlatan who tries to create reputation about his name. Moreover I would like to point out OP that according this article the author(Ou Chengxiao) in chinese language is not an economist but an investor in real estate.
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.
Bitcoin is now worth >$1000 just because it has gained acceptance by more and more people- this is where its value lies.
Of course the value is determined by the demand and Supply and how much demand it has among the people. Bitcoin is the most worthy currency these days and since everyone wants to have it, its value will continue to rise.
Everyone can have their own opinion of how much they personally value an item. But saying "the value is X" where X is their personal preference rather than the value assigned by the entire market, is a tad arrogant. 
Over valued or not, I bought a Xbox One with my Bitcoin from a online market place and they accepted it. 
..... So while someone accepts it,
I will use it.... The purchase came with a huge discount for Bitcoin customers too, so I actually saved a bunch of money using it. I am one happy
customer. Next purchase will be 2 games from Steam ....using my over valued bitcoins... So fck that Chinese economist.
..... So while someone accepts it, I will use it.... The purchase came with a huge discount for Bitcoin customers too, so I actually saved a bunch of money using it. I am one happy
customer. Next purchase will be 2 games from Steam ....using my over valued bitcoins... So fck that Chinese economist.
Its a decentralized currencie is already a huge problem to others centralized currencies, and lets compara bitcoin with pounds, 1 bitcoin are around 800 pounds, soo from my point of view there is no overvalue at all, there is a big investment and big interest over bitcoin as well crypto world, people does like freedom.
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?
Whether he is right or wrong, he is entitled to his opinion, because as a respectable figure in his area of specialization, I am sure he has a reason for arriving at that conclusion. However, in other to support him on his opinion, I would like to understand the basis of his conclusion but based on my conclusion, I dont think its totally true that bitcoin is over-valued by that amount because day by day the adoption of bitcoin increases, consideration for acceptance is also increasing as well.
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?
Chinese government is very scared of bitcoin because of foreign currency crossing oversea too much . They use the chinese economists to make foreign currency market orientation and say bitcoin price is 1,000 times overvalued but it's really not overvalued . Many people are using bitcoin as central payment method and bitcoin becomes more interesting than the other payment method nowadays.
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?
No I do not agree with him, never heard of this guy also and this statement is more of a opportunist statement rather than any factual statement. It seems he just wishes to have attention on himself and decided to make a random statement. I am 1000% sure this guy does not understand Bitcoins at all, he wanted his 2 minutes fame and you just gave him. Bitcoin is controlled by demand and supply more demand less supply price shoots up. And as far him not many people buy with Bitcoin, tell him his freney Japan has passed a bill allowing Bitcoins. And look in this forum so many people are buying with Bitcoins.
the first mistake this guy is making is calling it a currency. it really isn't for now. for most people it's an asset.
I recently estimated the value of bitcoin today, if it is used to facilitate global trades, at over $220,000.
Thus I think bitcoin is undervalued by 99.45%.
Thus I think bitcoin is undervalued by 99.45%.
I guess he meant undervalue 1000times, if not the likes of Chinese miners holding the space at ransom, the price of BTC would have been at least $1500 by now. Once the scaling solution has been resolved the numbers of users will definitely increase.
LOL he must have some mental problem or he is a guy who have never seen the world outside walls of his house.
He must look at the number of transactions in darkweb and also he can look at number of bitcoin transactions and volume of bitcoin that are being transferred every second.
24 hour transaction volume says different story
https://blockchain.info/stats
He must look at the number of transactions in darkweb and also he can look at number of bitcoin transactions and volume of bitcoin that are being transferred every second.
24 hour transaction volume says different story
https://blockchain.info/stats
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Estimated Transaction Volume (USD) 335,309,068.62 USD
I don't agree with him that bitcoin is overvalued in terms of price because we can't get to this price point if there is no real support from the users or investors of bitcoin. Bitcoin is a controlled free currency and its price is always depending in the market so there is no proof that bitcoin is really overvalued.
If bitcoin is overvalued then there is a lot of bitcoin users, holders and investors are doing panic selling because the price is not stable when overvalued. So i highly believed that bitcoin is not overvalued and it deserves what its current price now.
If bitcoin is overvalued then there is a lot of bitcoin users, holders and investors are doing panic selling because the price is not stable when overvalued. So i highly believed that bitcoin is not overvalued and it deserves what its current price now.
In a way you have a point, and also OP do have a point. Bitcoin do exist because of us, and it was made for us to use, we all know that the bitcoin's price in the first time that it was launched here in the cryptocurrency world is so little, but time passed by---right now, bitcoin's price is higher than we thought, it is not stable because it was always fluctuating, and this is because every day that passed by, many people are turning themselves on using bitcoin, also the investors and buyers, that is why we come up to a conclusion that it is overvalued, which is a good thing.
As a long time Bitcoiner, honestly, I do not want to see the price of one Bitcoin too high. It will keep average human like me and many others out of the game. It will only attract investors who will hold onto the coins for long term and hence no average business will accept Bitcoin. It will be more like stock and not a currency. However, at this point in time, I don't think Bitcoin is 1000 times overvalued. This is the prefect price for Bitcoin - around 1000 USD per Bitcoin.
(Just my personal opinion).
(Just my personal opinion).
No it doesn't. You can buy .01 btc if you are poor.
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