Fundamental value of Bitcoin

Covertibility said:
The report comes after Bithumb servers crashed in November, and private data for 30,000 users was leaked in June.
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One of the believers told that wallets are safer then Fort Knox; reality is that 30,000 bitcoin owners now experience just the opposite.
This will not be the last surprise. Everything is safe till it is not safe anymore.
The first service that asks a fee is reality, it will not be the last one.
 
Spectre2007 said:
Bitcoin represents set amount of consumption of energy, so figure out what it costs to mine one coin on average. That's its value.
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The housing bubble in the US (2006-2012) showed that the prices of houses that were forced to be sold, where far below the value to build the house. So I am not sure about your statement.

Not only supply but also demand is an important element that not always takes the valuation you speak about in consideration. If we see the chart it seems that miningcost can drop from one day to another by 50%??? Or the opposite, jump up 50%???
 
schweiz said:
The housing bubble in the US (2006-2012) showed that the prices of houses that were forced to be sold, where far below the value to build the house. So I am not sure about your statement.

Not only supply but also demand is an important element that not always takes the valuation you speak about in consideration. If we see the chart it seems that miningcost can drop from one day to another by 50%??? Or the opposite, jump up 50%???
More...

If it costs 2500 in infrastructure and it takes 1 year to mine. And it yields 10K in value, that's a multiple of 4, so one could argue, that venture capital would be heavily invested in this rather than other risky ventures.
 
Spectre2007 said:
Bitcoin represents set amount of consumption of energy, so figure out what it costs to mine one coin on average. That's its value.
More...

Funniest post of 2017.

I'm just thinking these are the same clowns that spent their youth buying $250 sneakers. Now its bitcon
 

Exclusive: Nearly 4 Million Bitcoins Lost Forever, New Study Says


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Spectre2007 said:
If it costs 2500 in infrastructure and it takes 1 year to mine. And it yields 10K in value, that's a multiple of 4, so one could argue, that venture capital would be heavily invested in this rather than other risky ventures.
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Are you not a bit to enthusiastic?


bitcoinmining.png
 
Soon the mining cost will exceed the financial worth of 99% of US citizens. Mining will be only possible for rich people. And as rich people become rich because money is flowing from the poor to the rich, the rich will benefit from the bitcoin, not the average joe.The rich will dictate the prices.
It is similar to people watching the NBA, golf or going to a concert of a popstar, paying expensive tickets while the players buy multimillion dollar houses, yachts and planes. Since the Greeks this system is working well. Bread, water and games, that's what the mass need.
 
Mining one coin will never cost more than the price of the coin itself (it will auto adjust to about 25% to be profitable, and if nearing 100%, then miners will drop out). If what you say "soon" will it not be possible for 99% of US citizens, that will mean coin prices of 50.000+, which will not be soon.

Also: the average joe, you are referring to, will switch to some alt-coin which is easily mine-able. As the same profit margin (25% costs) is achievable in many Alt-coins. This is what happened the last few years: video-cards of $400 each are used for Alt-coins (and can be exchanged for Bitcoins). The expensive specialized mining-equipment are for the high secure coins, like Bitcoin.
 
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