Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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Your first paragraph: Neither he nor I have said that the market price is identical to everybody's sincere valuation. The point is that everybody has a different valuation, either above or below the last price.
The other paragraphs: Yeah, all kinds of reasons for what people do.
Your first paragraph: Neither he nor I have said that the market price is identical to everybody's sincere valuation. The point is that everybody has a different valuation, either above or below the last price.
The other paragraphs: Yeah, all kinds of reasons for what people do.
I'm getting the feeling you're reaching here.
Jorge's original quote, one more time:
Quote
everybody who who owns bitcoin thinks that they are worth more than 245$; but, on the other hand, everybody in the world who has some money to spare thinks that 1 BTC is not worth 255$.
"thinks that they are worth" ... "thinks that 1 BTC is not worth" ...
If that's not supposed to be about fundamental, "sincere", valuation then it's phrased pretty misleading. If it is about fundamental valuation, see my argument above.
No it is precise. There is no fundamental valuation, it is speculation about what others will do in the future. It goes for all money, the reason is that money can not directly be used for anything.
