if people aren't spending bitcoins - that's what i see/read around here; everybody is waiting for the price to sky rocket - this means we are creating our own bubble and we will 'die' in it! We only buy bitcoins, so the price at this moment is above, super above of what a bitcoin really value.
Until the market starts to flow naturally - peoples actually using bitcoin in their purchases - we don't know the real price of it! actually, the current price is OVERRATED for sure, because people only BUYS it!!!!!
Already flowing. Scarcity provides value along with utility.
Its more complex than you think.
i know that!
21million bitcoins for 7billion people, makes 1bitcoin to worth maybe millions! i don't know!
But at the moment, 270$ maybe a 'bubble price'! at the moment the real price is lower than this number.
Scarcity does not mean it's a bubble asset. Also miners won't sell below this so real price is where it's at now. Intrinsic value comes from blockchain and mining efficiency leading to overall research on more efficient power. Inflation can now be tied to a real gdp leading indicator instead of these black numbers that are used today to brainwash people using shadow metrics.
This is the definition of a holy grail of currency(ideal money) according to John Nash the genius mathematician.