RE: Is it possible to find Bitcoin's intrinsic value?
Certainly an interesting approach to valuation.
From observing BTC and altcoins for a while now, "usage" keeps coming up... yet there doesn't seem to be a lot of effort being put into "creating legitimate USAGE" for most coins our there. Everything seems to be looked at mostly in terms of "investment" and "returns." I'm just surprised there aren't more people trying to... "protect"... their investments by creating a reason for that investment to exist, in the first place. Strikes me as a bit "house of cards-ish," but maybe I'm missing something?
One of the appeals of Steemit/Steem was precisely the fact that there seems to be the potential for an underlying economy, to support the token. Maybe I'm just old-fashioned in terms of how I assess "value," but in order for something to call itself a "currency" doesn't there need to be actual USAGE for it?
Its like trying to find the intrinsic value of the internet in the 1980's.
So true
I agree to this
Like .COM a correction is bound to occur... And then an upward correction.
On Aug 22nd I told everyone who thought they missed the bitcoin surge to buy around $3400, way before the china news, thats the last correction point that was missed, now as it approaches, what to the charts say??? buy bitcoin around $3400-3500 the coins do what they are supposed to do regardless of all the BS
Great point. I agree completely. In all the other systems they work great when the price is going up, but completely disappear when the price starts going down, very house of cards ish indeed. Ideally we still need a market for people to actually start transacting in steem... an online "steembay" or something where people exchange goods for steem.
Maybe it's time to bring that up again... I floated that idea about 4-5 months ago and it seemed to fall on somewhat deaf ears... although @steemgigs and @steemshop came along as fledgling initiatives... but I think we need something more robust.
denmarkguy - Exactly! Value! I'm writing a long article about this. Hope you'll read and will let me know of your thoughts.
PS: I still don't like that the valuation of a currency being made by drugs. I'm hoping that trust and human values are still relevant when it comes to investing
AGreed. thanks for sharing :) Also why I like Steemit as it feels sustainable because of it's underlying economy :)
All that can be a bubble??
Valuable point :)