Why the #DigiByte #Blockchain could be valued at $2.1tn
Yesterday, I published the following video and asked towards the end of the video for any questions that anyone would like to put forward.
The #DigiByte #Blockchain valued at $2.1trillion with a Bunch of Red Berries, a Dock Leaf and a Key.!!
One question came in that I wanted to share with you and the answer I gave.
Credit to - So far so REKT
This was the question that was put forward...
You seem to understand it reasonably well I’m a fan of digibyte however could you give your opinion on these 2 factors 1 if I posted you a nice Rolex watch and we agreed a 5k price with xrp as a medium of exchange I posted it yesterday it arrives this morning and then you realise you’ve spent 6k on a 5k watch cos xrp jumped for no reason how’s that gonna sit ? - 2 if the watch takes 24hrs to arrive who needs a 0.1 second transaction time just a couple of thoughts 👍🏼
This was the answer I gave...
The biggest mistake most people are making is focusing in on the price of the coin today.
In reality, you have to totally forget about the coin price.
To correctly value a Blockchain, you really have to totally disregard the by-product which is the Cryptocurrency and focus in on the potential application of the Blockchain itself.
What I have tried to explain here in this short video is that if DigiByte becomes one of the preferred Blockchains to move Goods and Services around the World, you have to ask yourself one very simply question, "What is the total value of the Goods and Services across all Supply Chains that will be moved on the Blockchain?"
Once you answer this, you can then put a price on the coin itself.
For ease I am saying $2.1tn worth of Goods and Services will be moved around on Supply Chains / 21bn coins.
This equates to $2,100,000,000,000 / 21,000,000,000 = $100 per coin.
Hope this helps.
Taken from Youtube
You can see the question / answer on Youtube.
The biggest mistake that most people are making
In reality, you have to totally forget and disregard the coin price. It's really irrelevant...!!
The only measure of value
What is more important and is really the only measure of true value, is what can the #Blockchain that you are trying to value be used for.
Thanks again for reading.