"Perception" by whom? If you think [your] red stone is worth $20k, and I think it's worth $200, what am I going to pay? "Consumer Sovereignty." "De Gustibus Non Est Disputandem." (( WOW! DO NOT Google "rhino turds" "images" or "videos". I'm totally serious here. Just don't. Just don't do it. They might be valueless and rare, sure -- but you don't need to see it. ))
@Scataphagos Please explain who is the 1 person/entity who can control 51% of the hashing power that has the ability to hard fork and increase the supply. Also, be sure to break down the cost of doing so in current USD terms re: equipment, electricity and etc. None of us will be holding our breath. What is the real use case of BTC? Who knows, who cares.
Maybe the millions of people who bought between $10,000 and $19,000 and lost all together billions in no time. And also those who sold between $10,000 and $19,000 and made all together billions in no time. Future will tell if that was or wasn't the real purpose of the bitcoin hype.
You would not pay 20k if you thought it was worth $200. But give it time..fanboys for everything. Perception of value.
THE EDGEWORTH-BOWLEY BOX!!! (Sorry, but this seems to be a day where everything is taking me back to grad school...) https://en.wikipedia.org/wiki/Edgeworth_box
That was *nearly* a hot-tea spew moment. Saved it at the last second. But oh! The wisdom in what you wrote..... .....
Reminds me of what Douglas Adams wrote almost 40 years ago... ----------------------- “If," ["the management consultant"] said tersely, “we could for a moment move on to the subject of fiscal policy. . .” “Fiscal policy!" whooped Ford Prefect. “Fiscal policy!" The management consultant gave him a look that only a lungfish could have copied. “Fiscal policy. . .” he repeated, “that is what I said.” “How can you have money,” demanded Ford, “if none of you actually produces anything? It doesn't grow on trees you know.” “If you would allow me to continue.. .” Ford nodded dejectedly. “Thank you. Since we decided a few weeks ago to adopt the leaf as legal tender, we have, of course, all become immensely rich.” Ford stared in disbelief at the crowd who were murmuring appreciatively at this and greedily fingering the wads of leaves with which their track suits were stuffed. “But we have also,” continued the management consultant, “run into a small inflation problem on account of the high level of leaf availability, which means that, I gather, the current going rate has something like three deciduous forests buying one ship’s peanut." Murmurs of alarm came from the crowd. The management consultant waved them down. “So in order to obviate this problem,” he continued, “and effectively revalue the leaf, we are about to embark on a massive defoliation campaign, and. . .er, burn down all the forests. I think you'll all agree that's a sensible move under the circumstances." The crowd seemed a little uncertain about this for a second or two until someone pointed out how much this would increase the value of the leaves in their pockets whereupon they let out whoops of delight and gave the management consultant a standing ovation. The accountants among them looked forward to a profitable autumn aloft and it got an appreciative round from the crowd.”