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A comment on Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014). Parent comment

Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by jjeaff on Monday December 18, 2017 @02:17PM (#15954476)
"parked"? No, since no real money or asset is held to back up bitcoin. It could go to $100 million tomorrow based on a few transactions, but that wouldn't be indicative of what anyone else will be able to get for it.
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by celticninja on Monday December 18, 2017 @04:09PM (#15955528)
Now that is just wrong. If the price went to $100m tomorrow it is because people are buying and selling bitcoin for that price.
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by astrodust on Monday December 18, 2017 @06:24PM (#15956390)
All it takes is a single trade at a $100M valuation and, for that nanosecond, that's the value of Bitcoin.
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by celticninja on Tuesday December 19, 2017 @03:52AM (#15958730)
Yes but no one really considers that to be the market price.
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by jjeaff on Wednesday December 20, 2017 @11:08PM (#15976368)
Yes, the exchanges would, at least until a bunch more lower transactions took place.
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