Post
Topic
Board Marketplace
Re: New exchange (Bitcoin Market)
by
ihrhase
on 05/03/2010, 02:20:18 UTC

Unless there is a way to determine demand, no one will be using them as a currency.  Even now, every Bitcoin has a value.  The key is finding it and tracking it.  I want this to be a real market where buyers and sellers determine the value based on their demand.  It will match buyers and sellers (it can already do that) accordingly.  I will only be a broker.  I don't think we should be worried about what the value is.  Our main concern should be accurately determining that value as it fluctuates.  If it's 100,000BC/$1, 1000BC/$1, or even 1,000,000BC/$1 then whatever...  The fact we are worrying about people dumping Bitcoins suggests we haven't determined an accurate value yet.

The value of a money is what one can expect to gain in exchange for said money....

I am not worried about people dumping BC's on your exchange, I am saying any value is arbitrary until people come to accept BC as a medium of exchange...