#btc noob here and please be kind with my curiosity!
#### how do you measure the value of #btc?
I believe the calculation is never going to be the same as the stock market or am I getting this incorrectly?
#btc #noob #grownostr #nostr #asknostr #nostriches #plebs #plebchain
I think when one has the goal to evaluate a number in US Dollars the best one is really the market price.
If you talk about value, it’s much more than just what the market offers you.
#Bitcoin is above that, it’s a tool given to us to take responsibility of out own life. Bitcoin (if stored correctly) is solely your. Your 1 Bitcoin will always be your 1 Bitcoin.
If you have one BTC, you can measure the value of it by what goods services or money somsone is willing to give you for it.
I am asking the question because if I purchase #btc now as an example, it says as of this writing that 1 BTC = $66k. I am curious, who gets to decide how much is #btc? I believe or a group much have decided this is the value of btc to a dollar so you can purchase it. Therefore, I ask how did one or a group came up with the number?
Same as stock market or price of gold or oil/gas.
Nobody decides. The market decides.
The exchanges calculate what buyers are willing to pay, and that becomes the price. Same as groceries at the store.
But soon everything will be priced in Bitcoin, even dollars will be priced in Bitcoin.
ty for taking the time to explain this. Now it makes sense! have a good one ☺️👌
1 BTC = 1 BTC
