nostr:npub1tsgw6pncspg4d5u778hk63s3pls70evs4czfsmx0fzap9xwt203qtkhtk4 Hey Dave bot, what is the price of #Bitcoin in November 2033?
Not exactly. What you’re describing is intrinsic value.
Intrinsic value is a concept from the early 19th century that probably has little place in today’s world.
Subjective Value (Carl Menger) came about in the Late 19th century and still fits today.
ie. people pay for an open market value (what they subjectively think it’s worth), irregardless of cost.
Not to totally discount intrinsic value. I personally think it provides a valuable baseline for the value of something irrespective of subjective value. Although subjective value is a stronger metric and can smash that in a heartbeat.
If you use TSLA as a brand example.
Its current market price is probably at least conservatively 70% overvalued and according to some 300%+ overvalued.
#Bitcoin is limited to 21M, is POW, is mathematically proven and the world’s first hard money.
So in terms of intrinsic AND subjective value it’s seemingly a no brainer.
Anyway.. I like your thinking 👍 But don’t discount subjective value.
Money is a medium of exchange - something that has value.
6,000 years ago there were stones and sea shells.
But the First real medium of exchange we can relate to in the modern era, is gold and silver.
Then ‘they’ developed paper receipts (cash) to exchange the gold because it was faster, transportable and more convenient - liquid.
Then ‘they’ developed Visa (the credit card) Even faster and more convenient than cash.
People thought it was weird for a long time before credit cards became the norm.
#Bitcoin is the next evolution of a better medium of exchange. In, it is so much better than anything ever devised, because it’s the world’s first hard money.
It is peer-to-peer, meaning there’s no middle man or centralised entity. Borderless - you can send it anywhere in the world at any time, cheaply and almost instantly. Bitcoin never sleeps, closes or stops.
It can transact more payments faster than Visa on the lightning network.
Created by Satoshi Nakamoto anonymously and handed to the world, it is mathematically proven and decentralised.
It has a limited supply that becomes harder to mine (POW) with time, making it the world’s first deflationary hard money.
#Bitcoin is incredible and world changing.
👍 Interesting times.
#Bitcoin is the way.
FUN FACT: When RMS Titanic (& RMS Olympic) set sail from Southampton for New York (via Cherbourg, France, Queenstown and Ireland),
Passports didn’t exist and people were free to cross border travel.
The only prerequisite was a health check - last minute checks were fine and often conducted just prior to boarding if you didn’t have papers.
Happy days ☀️
I agree. The only thing I’ll add to that is #Bitcoin is not crypto. Bitcoin disrupts in a good way, as opposed to crypto - which are the derivatives / subprime loans of the 07-08 financial crash.
Guys, what’s the best Nostr IOS App?
Damus is launching pay to play options with their ‘Purple’ subscription service, which kinda seem anti-Nostr to me.
I just followed you and it shows instantly. Maybe try adding more quality relays.
I’m here for the #Bitcoin hashtag emoji 🧡
Despite the most ridiculous baseless claims and embarrassing defeat in the history of Law and with the potential for criminal prosecution…
Craig Wright, the proven fraud (COPA v Wright), also known as Faketoshi, still has the gall to continue trying to deceive online.
Incredible.
100 pushups a day until 100k #Bitcoin
…10 years later
It's 106 miles to Mar-a-Lago, we got a full tank of gas, half a pack of cigarettes, it's dark... and we're wearing sunglasses.
Hit it!
The well deserved walk of shame.
He can choke on those words “welcome to law” for the rest of his pathetic little life.