4 ms·
Seems to me the market has found a value, and while it changes from day to day and even hour to hour, it’s still pretty determined.
by alanfalcon 9y ago
Seems to me the market has found a value, and while it changes from day to day and even hour to hour, it’s still pretty determined.
- nwah1 9y agoThe market found a value for beanie babies too. You are mixing up what classical economists called exchange value and utility.
- hndamien 9y agoThe exchange value in this case directly impacts the utility. If you are moving large amounts of wealth and the price is high, then the transfer bandwidth is also high. If the price is low then the transfer bandwidth is low. Ability to transfer wealth geographically with no counter party is the utility.