Bitcoin Falls Below $20k for the First Time Since 2020

Re:Bitcoin Falls Below $20k for the First Time Since 2020 by igorkraw on Saturday June 18, 2022 @05:27AM (#31788432)

Using this logic, we can value 1 bitcoin at 7/1700* 442billion /21 million = 87$ (Bitcoin Tps divided by Visa TPS times first visa market cap I found divided by number of Bitcoins ).

Except if course, if you buy a piece of visa, you get a dividend and legal rights, while owning a Bitcoin gets you the privilege of paying miners to extract that value. So really, that 7/1700*442e9 $ is the value of those who own the network (the miners), not the users.

[ Parent | on HN ]

Re:Bitcoin Falls Below $20k for the First Time Since 2020 by lrvick on Saturday June 18, 2022 @05:32AM (#31788456)

The miners have no incentive to mine unless there are a large number of people choosing to exchange Bitcoin giving it buying power to offset electricity cost.

[ Parent | on HN ]

Re:Bitcoin Falls Below $20k for the First Time Since 2020 by igorkraw on Saturday June 18, 2022 @05:43AM (#31788519)

So you are saying there is no value to be extracted? Shocking

[ Parent | on HN ]

Re:Bitcoin Falls Below $20k for the First Time Since 2020 by lrvick on Saturday June 18, 2022 @05:52AM (#31788547)

I feel certain you understood that is not at all what I was saying.

[ Parent | on HN ]