Quote from: mindrust on October 21, 2020, 02:51:41 PM

USD will never become worthless as long as there are still people who want to live in the US and I tell you, there are plenty.

At least not the physical USD notes. I am not sure about the banks though.

USDT is a lot different story...

BTC's value is whatever you believe it is.

Do you believe btc's value is $12k because some exchange tells you?

BTC's real value for you is the price that'd make you cash em all out.

Nothing else. From which price would you cash out? $100k? That means your price is $100k for a coin.

So stop!
You say that
>Do you believe btc's value is $12k because some exchange tells you?
BTC's real value for you is the price that'd make you cash em all out.
Nothing else. From which price would you cash out? $100k? That means your price is $100k for a coin.
but this is absolutely not the case.

The "cost" of something is a measure that ANOTHER person is willing to pay for your product. In our situation, any cryptocurrency is still a commodity that we buy for dollars and then sell for the same dollars.
If you say "my 1 BTC is worth 100k dollars" it doesn't change the fact that everyone else is buying and selling BTC at 12K. And no one will agree to buy your 1BTC for this amount.
The price is set not by you but by the very demand that exists for this product. And there are many factors that also affect its price.
You can't just go to someone and say
- Hey hi I have a coin N and it costs 100k dollars. Buy it and you won't regret it!
And you will not be able to put forward any justification for this price other than your "I want so many dollars for my product"-and therefore for the same 100k no one will ever buy this product personally from you.