Post
Topic
Board Economics
Re: What creates this price for a bitcoin?
by
mizike29
on 06/07/2011, 11:53:41 UTC
Yeah Im no economics major, but I know a dollar is worth a dollar since I have been born, based on what the gov says and the financial banking industry and power of the dollar.  So when I looked at bitcoin go up and down and up and down down down, and now back up today a little bit.  I just wondered, it looks like the price is basically what the last sale of a bitcoin is, and what people want to sell them for and buy them for and thats it.  Nothing in between, just what I am willing to buy a coin at.  Maybe in the future with more places accepting bitcoins that could give it that big punch of what a bitcoin is worth making it jump to 30 to 40 a coin, but if its just us minority bitcoin users and miners, seems it would vary up and down around this area for awhile, simpley based on price.