3 ms·
you forgot "if and only if the public finds this valuation believable"
by dmitrygr 9y ago
you forgot "if and only if the public finds this valuation believable"
- make3 9y agoincluded in this is, if bitcoin doesn't fall to zero (as people wouldn't use coinbase if bitcoin was worthless). in a way I guess, it's kind of like owning some bitcoins, because if bitcoin tanks, coinbase will be worthless