He was trying to avoid the "I admit I have been wrong all the year"
His problem is he's living in 2018 with his BTC 2013 lifestyle He's still smart, even if I don't always agree with him.
If a fair value is something that buyers agree to pay then a buyer will say $1 is a fair price and the seller will say $50k is mine...
when BTC was at 10k people agreed, $15k-$20k too. So the fair price should be at least $20k, no? in reality, the fair price depends on the supply/demand...
BTW just to add that "Fair price" is a term often used in finance
... used in two different contexts. One is as a synonym for fair value, a theoretically unbiased valuation of an asset which may differ from its current market price. A second meaning of fair price is that at which demand and supply for a futures contract are equal.
The fair price, or fair value, of an asset is an economic concept. It aims to give an objective valuation of the asset rather than simply going by the current market price. Whereas the market price is determined solely by supply and demand, the fair price takes into account the costs of the individual components of the asset. In the case of a business this could include land, machinery, stock and staff levels.
The fair price may also take into account the value of whatever is produced by an asset, whether that be production from a physical asset, or financial return from a financial asset. There may also be more subjective elements in assessing fair value, such as how useful an asset is to a particular potential buyer. For example, a fishmonger would place a higher value on a store with easy access to a port than a baker would place on the same store.
https://www.wisegeek.com/in-finance-what-is-a-fair-price.htm 
