4 ms·

Maybe bitcoin won't really burst and all, but I would really like to know how to find if it's underpriced or overpriced.

rawtxapp 6y ago
There's a 24/7 market with billions of dollar in trade volumes and you have the ability to short it pretty easily. If you don't think that it's current value is the correct value, I'm not sure what else you can do to know if it's underpriced or overpriced.
- jdmoreira 6y ago
  Price is what you pay. Value is what you get. The value of bitcoin is zero if you are bargaining with me. I'll trade a chicken for bitcoin when the state allows me to pay my taxes in bitcoin. Until then enjoy your fairy money.
  - deleted 6y ago
    [deleted]
  - rawtxapp 6y ago
    > Until then enjoy your fairy money. Thanks to the fairy money, I won't ever have to work for someone else, seems pretty real to me.
    - jdmoreira 6y ago
      Hello Ponzi! You finally made it to HN
    - romanoderoma 6y ago
      many more people say the same thing about cocaine... funny thing: cocaine is the better environmental choice among the two. in its basic form it also naturally grows on planet Earth factor in how much energy you burnt and you should be in jail for crimes against humanity
  - bhupy 6y ago
    > I'll trade a chicken for bitcoin when the state allows me to pay my taxes in bitcoin. Apropos of nothing: https://www.coindesk.com/switzerlands-crypto-valley-has-started-accepting-bitcoin-ether-for-tax-payments https://www.coindesk.com/switzerlands-crypto-valley-has-star... https://www.newsweek.com/miami-passes-resolution-allow-paying-city-workers-bitcoin-attempt-woo-big-tech-1568784 https://www.newsweek.com/miami-passes-resolution-allow-payin...
    - jdmoreira 6y ago
      You know the federal government of the biggest world economy who also finances the world's largest military have their own ponzi scheme going on right? I'm pretty sure they can knock at any bitcoin billionaire door at night and fly them to a 5 star resort in Guantanamo whenever they want. The Emperor mints the coin. It has and always will be like that. No amount of crypto wishful thinking will change that.
  - retsibsi 6y ago
    > The value of bitcoin is zero if you are bargaining with me. I'll trade a chicken for bitcoin when the state allows me to pay my taxes in bitcoin. Until then enjoy your fairy money. Not sure how literally you mean this, but I don't think it makes any sense, unless you're willing to pass up free money just to make a point. If I offer you 100x the usual price, on condition you let me pay in bitcoin, are you really turning that down? (You don't have to hold the bitcoin for any significant time, you can immediately swap them for dollars at the market rate.) And do you extend this policy to everything that (lacks intrinsic value and) can't be used to pay taxes? The state won't let you pay your taxes in winning lottery tickets either... I'm no bitcoin fan, fwiw. But I think you're conflating 'bitcoin sucks as a currency' with 'bitcoins are worthless'.
- siproprio 6y ago
  I mean, companies you can see they have new products coming, if they sold well, if there's innovation. Commodities you can see production, consumption - people actually eat wheat, use copper to build things, etc. Most people I know (a small and biased sample size) that are buying bitcoin, they are buying because "that sucker's goin'up", like the Peter Lynch video. https://www.youtube.com/watch?v=HLQGsE0H4cs https://www.youtube.com/watch?v=HLQGsE0H4cs

rawtxapp 6y ago

There's a 24/7 market with billions of dollar in trade volumes and you have the ability to short it pretty easily. If you don't think that it's current value is the correct value, I'm not sure what else you can do to know if it's underpriced or overpriced.

jdmoreira 6y ago
Price is what you pay. Value is what you get. The value of bitcoin is zero if you are bargaining with me. I'll trade a chicken for bitcoin when the state allows me to pay my taxes in bitcoin. Until then enjoy your fairy money.
- deleted 6y ago
  [deleted]
- rawtxapp 6y ago
  > Until then enjoy your fairy money. Thanks to the fairy money, I won't ever have to work for someone else, seems pretty real to me.
  - jdmoreira 6y ago
    Hello Ponzi! You finally made it to HN
  - romanoderoma 6y ago
    many more people say the same thing about cocaine... funny thing: cocaine is the better environmental choice among the two. in its basic form it also naturally grows on planet Earth factor in how much energy you burnt and you should be in jail for crimes against humanity
- bhupy 6y ago
  > I'll trade a chicken for bitcoin when the state allows me to pay my taxes in bitcoin. Apropos of nothing: https://www.coindesk.com/switzerlands-crypto-valley-has-started-accepting-bitcoin-ether-for-tax-payments https://www.coindesk.com/switzerlands-crypto-valley-has-star... https://www.newsweek.com/miami-passes-resolution-allow-paying-city-workers-bitcoin-attempt-woo-big-tech-1568784 https://www.newsweek.com/miami-passes-resolution-allow-payin...
  - jdmoreira 6y ago
    You know the federal government of the biggest world economy who also finances the world's largest military have their own ponzi scheme going on right? I'm pretty sure they can knock at any bitcoin billionaire door at night and fly them to a 5 star resort in Guantanamo whenever they want. The Emperor mints the coin. It has and always will be like that. No amount of crypto wishful thinking will change that.
- retsibsi 6y ago
  > The value of bitcoin is zero if you are bargaining with me. I'll trade a chicken for bitcoin when the state allows me to pay my taxes in bitcoin. Until then enjoy your fairy money. Not sure how literally you mean this, but I don't think it makes any sense, unless you're willing to pass up free money just to make a point. If I offer you 100x the usual price, on condition you let me pay in bitcoin, are you really turning that down? (You don't have to hold the bitcoin for any significant time, you can immediately swap them for dollars at the market rate.) And do you extend this policy to everything that (lacks intrinsic value and) can't be used to pay taxes? The state won't let you pay your taxes in winning lottery tickets either... I'm no bitcoin fan, fwiw. But I think you're conflating 'bitcoin sucks as a currency' with 'bitcoins are worthless'.
siproprio 6y ago
I mean, companies you can see they have new products coming, if they sold well, if there's innovation. Commodities you can see production, consumption - people actually eat wheat, use copper to build things, etc. Most people I know (a small and biased sample size) that are buying bitcoin, they are buying because "that sucker's goin'up", like the Peter Lynch video. https://www.youtube.com/watch?v=HLQGsE0H4cs https://www.youtube.com/watch?v=HLQGsE0H4cs