read what i actualy said. its not the retail/spot price of the market. its the underlying value cost.
I know what you said about underlying cost and I agree; I'm just telling you that you shouldn't compare gold or the groceries with bitcoin. When it comes to bitcoin, there's no underlying value. It's the demand that determines what the cost will be.
If the whole world adopted it, the demand would rise and so would the difficulty. If suddenly lots of us dumped it, the difficulty would drop as well. It's the difficulty of mining gold that determines its underlying value.
And the minimum market value IS the cost. I just used that term, because you keep saying “cost is not value” and that's confusing. There are lots kinds of values such as personal, market, intrinsic etc.
PRICE is not value..
your the one saying about the PRICE is determined by demand!!!
stop thinking about the market price. .. understand that my points regarding value is not the market price.
please take a little effort to avoid the narrowminded sight of the market price.
..
take real estate..
if it costs say $80k to build a house..
thats the value line
however if the house is sold for say $120k or $800k thats the difference of if the house is being sold at good value ($120k) or speculative bubble over value ($800k)
the $800k inflated housing market is not VALUE.. its just the current market PRICE
the real value is nearer the $80k-120k
this VALUE is not the market price..
people dont get to see $120k when the market is $800k
but what people do understand is if a house was built for $80k no one would dare sell a house below $80k(should the market ever crash)
making $80k the bottom
..
do you understand!. or are you going to remain flip floppy by pretending price is value.
i really hope you can get to a point of understanding economics to realise value is not the price.
you can guage if somethings price is of good(near cost) or bad(speculatively inflated) compared to value based on knowing the cost vs the price.
but being ignorant to think value is price. teaches you nothing
so please understand price is not value.
yes price is determined by speculative demand. but value is a whole different number separate from price