Post
Topic
Board Marketplace
Re: SELLERS: Let's Raise Our Prices to $2/BTC!
by
prcarter
on 19/03/2011, 16:07:43 UTC
I'll have to agree with the rest in that this was a ridiculous proposition.

[...] We know that Bitcoin will be very successful and that its inherent value is much higher than today's prices of $0.8/BTC. [...]

There's no such thing as "inherent value" in anything. Bitcoins or paper currency. Value exists only when you trade something for something else. Our trading means that we both believe my thing is worth as much as your thing. So we trade, because I want some of your thing and you want some of my thing. This is elementary.

If everybody starts insisting like that, the volume of trades will drop; perhaps to zero.