Quote from: odolvlobo on Today at 05:46:36 AM

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

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.

That's an odd thing to write because supply and demand are literally defined in terms of price (and quantity). I guess it would help to define "price" and "value" and explain the difference between them.

For me, they are basically the same, except that price is a objective aggregate measure of value, which itself is subjective. In other words, something may have a price, but its value to higher to some and lower to others.

Demand is the complicated part of the duo, specially for something that is still in the process of adoption. Demand like value is also hard to measure.
If we define demand as adoption and all that comes with it then it is deciding the value of bitcoin as I said above but if it is defined as the number of buy orders on exchanges then it is deciding the price. I consider the later to be a wrong definition whereas the former is more complete.

This is why price is always arbitrary while value is fundamental. Which means demand (ie. buy orders) can drop on an exchange like it did in 2017 and price can drop down significantly (to 10 cents IIRC) whereas demand (adoption) for bitcoin remains the same ergo value of bitcoin doesn't change regardless of that arbitrary price drop.