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0 sats \ 9 replies \ @Undisciplined 14 Mar \ parent \ on: How Is Bitcoin’s Intrinsic Value Beyond the Fiat Price Tag? bitcoin_beginners
My daughter's artwork has a market price of zero, despite there only being a dozen or so units in the whole universe.
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.
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I want to tell you here that Bitcoin is more expensive in India than in USA if we value it in fiats. Why is so? It means that the external factors are at play. While Bitcoin’s true value transcends fiat price, you're right very few people understand this.
It should be 1 sat = 1 sat.
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That's interesting. It implies that something's going on in the FOREX market and people are using bitcoin to arbitrage it.