When you buy a single currency, it costs $1,000,000,000 to buy 100,000,000. In BTC we are talking about 10x.
1. Bitcoin is not a good store of value and doesn’t have intrinsic value. It’s just more abstract. There are many digital assets you can buy, like Bitcoin – Litecoin and Ethereum. We can see them as more abstract, since they are no more real than BTC.
2. What is the intrinsic value of a currency? There are many factors, but one factor is that it can be used as an incentive for productive work. The value of money is the value of a commodity of which you can extract the value of 10% (1 unit – 0.01) of the value. For example: 1$ worth of water is 10$ worth of water.
3. If you want an intrinsic value it will be as a percentage of what is being paid for the goods in question (e.g if I buy 100$ worth of goods and you’re paying with BTC 10$ per unit. If one unit is worth 100$ my intrinsic value is 100$).
4. The value of money is a function of its unit, the ratio of the currency to the total value of goods, and price.
5. The value of money is a function of quantity per unit, and the exchange between quantity and price.
6. In fact, the only thing that doesn’t work in a simple exchange between two arbitrary units is money – it has limited value.
7. If you can’t measure the money then you can’t figure out how money matters to the economy, and therefore can’t make informed decisions.
8. It is a system, not a system. (If you understand this, you probably don’t care about Bitcoin).
9. Bitcoin has two fundamental defects; as a money it doesn’t work within a market system, and its utility depends on the system’s fiat.
10. The value of a currency is a function of its unit as well as its market value.
11. The market value of BTC is determined by those buying them from the marketplace. There is nothing wrong with an arbitrary unit you don’t like. (I don’t like BTC. Why do you want it as a unit of account?).
12. If it’s an arbitrary unit, why bother with using it, then?
13. The value of a money
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