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In response to
"I saw an interesting analysis last night (hello, insomnia) that seemed to point to the highest supportable value of Bitcoin at 9000 based on "
by
Reagen
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cost proxy, but not investment proxy.
Posted by
mafic
Dec 31 '17, 08:51
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investment proxies depend on you being able to liberate value from them somehow. Like don’t want to buy gold? Buy a gold mining stock. Less exposure to the price volatility, still basically trading on the price of gold. With bitcoin, that electricity’s just gone.
Also take that train to its conclusion and bitcoin ends up being entirely produced in the places with the lowest electricity costs (Siberia, China currently). Assuming it becomes some sort of reasonable and widely accepted means of exchange, at least.
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