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comment by OftenBen
OftenBen  ·  15 days ago  ·  link  ·    ·  parent  ·  post: What will the price of Bitcoin be one year from today?

    question: why is 1 bitcoin worth 7000 dollars?

For the same reason five small pieces of paper and a few disks of engraved metal get me a beer.

flagamuffin  ·  15 days ago  ·  link  ·  

no. not at all.

OftenBen  ·  15 days ago  ·  link  ·  

Allow me to slightly refine my statement.

Because people are willing to exchange $7000 worth of goods or services in exchange for one.

kleinbl00  ·  15 days ago  ·  link  ·  

I know you want to be flippant about this but it's a serious question. Asked a different way: what would make people decide it's batshit insane to trade the better part of a jetski for a UPC code? 'cuz that's where we're at.