This is the last bounce before it goes to it's intrinsic value of 5.5k

This is the last bounce before it goes to it's intrinsic value of 5.5k

You guys should sell and short now and go all in when it's 6.5k range.

I am serious. There will be a lot less wojaks after that.

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intrinsic value doesnt mean what you think it means

>intrinsic value of 5.5k

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>Still trying to do TA on a volatile and world market
>Yeah, my TA says it's going to $10.

Next time, don't try to short the bottom on bullish news kek

sure nocoiner faggot

>TA
It's just a jpg I found on google.

There is no TA.
It's value investing.
The intrinsic value of bitcoin is 5.5k That's the average cost of making one bitcoin at this moment plus labor cost and such would be around 6k AT MOST. 6.5k If you want to overpay for it.
Otherwise it'll keep going down.
Miners are the "whales"

Elaborate.

If there were no news you could be right.
But fundamentals just changed.
G20 not fucking with crypto is a much bigger news than most of Veeky Forums seem to realize.
It's probably what the Binance CEO was talking about in that deleted tweet.

What exactly is the intrinsic value of a piece of computer code?

If it cost a million dollars to dig a hole on the top of Mt. Everest does that mean someone would actually pay a million dollars to buy your hole you spent all that effort on?

Just because it costs a lot to mine a bitcoin, doesn't mean it has inherent value.

Cost doesn't determine price, price determines cost.

What deleted tweet?

Didn't you see the threads? The one a couple of days ago where he said a golden bull run would be coming very soon, in a way as if he knew something we didn't.
Could be fake but a lot of people here and elsewhere claim it was real.

Bitcoin is a Veblen good.

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What's the intrinsic value of a glass of water?

the only miners that matter are the big chink mining pools, Jihan, viabtc, btc.com etc. and those chinks are not selling bitcoin for fiat, they are selling them for Bitcoin Cash

that analogy sucks. holy shit.

Bitcoin has no intrinsic value.

> intrinsic value of 5.5k
Cool, let's just pull numbers out of our asses now

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Is this larp? I want to believe. Wouldn't surprise me if zhao had some sort of inside info though

It's real meme value is 1 million.

OP you are retarded mate

In a certain way. It's simultaneously got Veblen and regular good properties. The price of the good is still not determined by its cost, however.

I'd actually consider BTC and crypto to be something other than a Veblen good, since Veblen goods have their demand properties due to status of high price, whereas cryptos rising in price causes speculative demand (a rise in future exchange value, not a rise in present consumption value)

damn Veeky Forums always turns to cancer when we "moon"

I bought on a news.

>intrinsic value

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op has the right idea, we're in a downtrend still that can only be broken if BTC can get past 8100. Otherwise, we'll continue on the path to 6k. Savor the taste of these sweet gains before they're gone. Get ready to short.

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Dude there were at least 5 threads about this the last 2 days lmao
Personally I'm cautiously optimistic since I still think it could be fake, but besides the screencap, the replies to the deleted tweet are still online ofc.
They say he deleted the tweet just minutes after posting it.

forbes just released an article saying BTC to 91k

BULLISH FA

which lines up nicely with the TA. They are intertwined. Charts are esoteric as fuck.

Agreed. I wanted to say: Additionally, Bitcoin is a Veblen good. Its price determines both cost and demand.

I also agree we probably need a different word to describe this effect. Veblen is more about status symbols.

Didn't take long

lol

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>claims to be value investor
>falls for labor theory of value
Value investing doesn't work in crypto on coins that don't pay dividends. Stop this shit. You are not Warren Buffet.

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The only intrinsic value that bitcoin has is how much the gpu and miners that people buy to mine them are worth as an investment for returns in the future. Show me the math for 5.5k and I'll believe you didn't just pull that number out of your ass.

> intrinsic value
> assigns nominal value to think about it

you are a midwit at best

exactly. intrinsic value is what the purge will reveal. you think xrp is worth 3 bucks? lolol But something that will be used and pays you to use it/hold it/stake it. #Safex

Bitcoin is currently above 8100

$4900 is next area of interest. May bounce off of $6kish.

This one.

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