Post
Topic
Board Economics
Re: What should be the Price of Bitcoin in US$
by
Gopher09
on 04/03/2014, 21:34:18 UTC
God I get sick of stupid people posting stupid questions.
Yes peg it to something arbitrarily like gold. That makes a lot of sense.


The correct answer is that it will be a function of the overal value of the bitcoin economy and the velocity of bitcoins. Maybe bitcoin days destroyed works in somehow for the velocity.
And that will create deflation , which means the price will be forever rising.

Unless someone figures out how to peg a new unit of measuent to Btc on the blockchain which would auto peg the deflating Btc to some non deflating unit based on aforementioned mass x velocity metric.

Either way the price of Btc constantly deflates , just a matter of how to handle it