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20 sats \ 11 replies \ @Undisciplined 14 Mar \ on: How Is Bitcoin’s Intrinsic Value Beyond the Fiat Price Tag? bitcoin_beginners
Lot's of stuff is scarce that no one cares about.
Value comes from people wanting it for some reason (doesn't matter what). Prices come from value plus scarcity (think purchasing power for BTC, not fiat exchange rates).
Lot's of stuff is scarce that no one cares about.
I can't think of one.
My point is that the price tags given on products or anything are not decisive of their value. Value ≠ price.
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My daughter's artwork has a market price of zero, despite there only being a dozen or so units in the whole universe.
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dozen or so units
Really?
I'm talking about products we all need to consume which are essential. Also there are innumerable artworks in the world.
Nonetheless I appreciate you found one but you know that's not a product category I'm talking about.
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You are not talking about things that are essential, because humanity survived for its entire history without bitcoin.
You're talking about things people want.
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Yes the things that people should want and value more.
The price tags in fiat aren't the reflection of their true value because these tags are often influenced by many external factors including governments.
And I agree to surrender I can't win over an economist, I accept.
But I now completely believe that Bitcoin's fiat price tags are a myth.
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We agree on the last point. If nothing else, people aren't valuing bitcoin properly because almost no one understands it, yet.