Post
Topic
Board Bitcoin Discussion
Re: Bitcoin needs to be worth $1,000,000 to be a legitimate currency
by
fossilized
on 18/09/2017, 14:12:30 UTC
The argument here in the article is abit tenuous. It says that the basic unit should be satoshi, then a satoshi should be worth X amount, there one bitcoin will be worth a gazillion dollars. It has no rational basis and sounds very arbitrary to me. What determines value is its market value and basic economic supply and demand, not what 1 arbitrary unit should be worth. Taking a similar argument, one could say that 1 gram of gold is worth 1 cent, therefore 1 kg of gold should be worth 10 dollars. Doesn't really hold water. Sounds like this artcile is just trying to be sensationalistic.