Quote from: biletskiy on September 22, 2018, 07:12:33 PM

Quote from: halfmil on September 20, 2018, 06:12:20 AM

Value of everything is subjective not objective. The value is zero to some people and a lot to others it depends on who you ask. Everything is only worth what someone else will give you for it and true value is only determined at that moment.

Bitcoin value depends on the demand. When the number of people, who want to invest in this cryptocurrency grows, BTC price is going up, and as I see, vice versa.

This is true. The point I am trying to make is some people do not even know or understand what bitcoin is to these people it is worth zero. People that have use for bitcoin and understand what it is the value is different.

Personally I think the value should be equal to or greater then the cost to mine it. Some of the cheapest electrical rates in the USA are around .08 per kWh for homes. At this price for electricity it takes some substantial investment in equipment, a bit of time (months), and over $5000 in energy costs to mine 1 bitcoin. Most industrial mining operations pay roughly .02 - .06 per kWh. Bitcoin has historically traded for roughly 2.5 times the mining cost. Why would someone invest lots of money for equipment to mine, spend months of their time working on it and sell it for less then the cost to mine it. That wouldn't make since. I feel that the market is very under valued currently.