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?
Perhaps he would be somewhat right if Bitcoin was just another centralized payment system, but Bitcoin is radically different from them, it's immutable and decentralized, and that alone is worth a lot, since there's nothing similar to it in this world (aside from alts, which are kinda like clones of Bitcoin). This means that Bitcoin can be used much more than just a currency, it's an easily accessible storage of value that can be easily moved around the world at any time. Unlike all other payment processors, it doesn't need any legal permissions to operate, so it's the first truly global digital payment system.