how much does a bitcoin worth?
Some say:Worthless. Its just a Ponzi scheme.
Some hail:Priceless! Its the future of money.
A Chinese economist Ou Chengxiao, often nicknamedOu Guru said yesterday "The price of bitcoin is 1000 times overvalued". He believed that the value of currency is decided by its scale of circulation, or adoption. But now the lack of businesses that accept the digital currency as payment has been holding bitcoin back from wider adoption. not so many people are buying things with btc.
i am a little confused why he is so sure bitcoin price is 1000 times overvalued. why not 100? 10? why exactly 1000? Do you agree with him?
Current price speak the truth, people still want bitcoin simply because it has big potential with many of its advantages to grow up more than current price level. What he said just pure speculation of his thought. For now, bitcoin cannot state as currency even though we can buy some goods using bitcoin but I consider it as another medium of exchange. If we want say bitcoin as currency, yes ; bitcoin need to scale and accepted by many people over the world, maybe about quarter of population will be enough. For now, I consider bitcoin like gold, or commodity but not a currency.