Quote from: pooya87 on Today at 05:27:23 AM

Quote from: IadixDev on January 10, 2022, 12:43:24 PM

The idea of supply and demand ok, but to me it seems more and more to be some kind of sophism more than anything. Look like some form of sollipism like i make the reality how i want it to be. But in reality you will rarely find some instance when this logic apply in real life. There is always a reasonable price to expect for something at a particular time. Then the price can vary following different factors etc but it's the thing i really fail to see with bitcoin. I mean whyt bitcoin worth 100x more now than 5 years ago ?

You are caught up in sophism yourself since you are confusing price with value.
Price can change at any time with irrelevant things. That doesn't change the value though. Value is still decided based on supply and demand, and there will be a reasonable value for everything at any time.

For example a while ago the bitcoin value was above $6k and still due to many reasons (some of the irrelevant) price dropped to $3k.

The whole argument is still irrelevant to the topic you started though. Price varying with different factors isn't a reason to call it a commodity. We have the same thing with fiat. For example during the past 2 weeks our local currency tanked for no reason except FUD and mass panic for about 25%. It is back to where it was today but as you can see price changes like that but the value remains the same. At the same time we define fiat as a currency just like we define bitcoin as a currency simply because of the utility they provide not because of how people treat them (people invest in US dollar these days and make profit from the volatility).

Im ok with this distinction but then still if there is some appreciable value and the price differ too much from it, it means someone is making a loss and the buisness is not sustainable in a free market.