Post
Topic
Board Economics
Re: Why Bitcoin will collapse in price.
by
deisik
on 09/12/2013, 21:11:24 UTC
Bitcoin is valuable (or has value, if such form suits you better) to those people who find the properties inherent to it useful for the achievement of their aims. These are security, deflationary nature, fixed supply and limited number of coins ultimately possible to mine. Probably, there are some other properties that contribute to its subjective valuation by people, but these will suffice. Once you get the hang how things actually work with respect to valuation, everything will become clear and easily comprehensible...

"who find properties inherent to it useful for the achievement of their aims."


Well obviously people believe (aims?) that bitcoin can be a 1) medium of exchange and 2) store of value.

I have already given a specific list of bitcoin properties that people here usually consider useful for attaining their ends. These properties give Bitcoin subjective value to those who need them. Is this really so hard to understand? And please stop conjuring up what was not written in my post and trying then to refute what you just concocted. This looks really ugly...