pull down to refresh
50 sats \ 3 replies \ @SqNr65 16h \ parent \ on: What bitcoin taught me: Value is not subjective econ
If nobody is willing to pay that price, how can you be sure that's the real value?
Indeed. How you measure value? How do you know your value is the objective one?
The bigger question is this framework useful? To say something has an objective value is one thing. Easier case to make. Value is not obvious sometimes.
I believe bitcoin has objective value but that doesn't help others. Just me.
reply
I don't think it's a matter of belief. Bitcoin fulfils these criteria therefore it's objectively valuable, inevitable.
Using this framework in any other context is extremely difficult because outside bitcoin the world is full of noise and obscurity and opacity. I don't think I'm saying anything novel, people use this framework in all of their value judgments innately, it's just complex.
But bitcoin is certain because it's pristine.
reply
Through your own rational judgment. I don't have to look at the current market price to value BTC. I can observe the mechanics of how BTC works in relation to the macro economy and decide for myself what a reasonable price should be, then buy or sell based on whether the market price is above or below my price. Reality tends to reward people that do the work of determining value, while punishing the people who wait for others to do the valuation for them.
reply