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Rather than a case, how about a framework to evaluate going forward: the market. Given enough time, I'm pretty sure the market will root out the "real value" of
by janoside 6y ago
Rather than a case, how about a framework to evaluate going forward: the market. Given enough time, I'm pretty sure the market will root out the "real value" of bitcoin and keep assessing the "real value" of gaming.
Let's watch for 5-10 years. If you're right about bitcoin, I bet its price will be much lower and you can gloat. If you're wrong, I bet its price will be much higher (because I agree with the basic assessment that gaming "feels" much bigger today). Luckily, we can both place our bets based on our best assessments of the future.
How confident are you that you can present a substantive case against bitcoin that matches the diligence that Ross Stevens has done for years? https://www.youtube.com/watch?v=lczPTYf_tvA https://www.youtube.com/watch?v=lczPTYf_tvA
- boh 6y agoAsset values don't reflect economic impact/relevance (as in a $100MM Picasso doesn't indicate $100MM of economic activity). That's why GDP is used as an indicator for economic growth, not market caps.
- ctdonath 6y agoMarket cap is an estimated resale value under current/predictable conditions. GDP is a total of cumulative annual transactions. We can measure Bitcoin both ways, and each is remarkable.
- boh 6y agoHopefully anyone reading this will take a minute to look up GDP. The comment above, in a nutshell, is what's enveloping the current crypto environment. Maybe one day we'll get past it (or maybe this is just it).
- Grustaf 6y agoAs it happens I just listened to a long talk by him, perhaps this one. He kept arguing that "bitcoin isn't volatile, because the price of various things measured in bitcoins keep falling". Either he doesn't know what volatility means or he is trying to scam people.