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User Info Bitscam And Other Extraordinary Insanities; entered at 2017-12-07 14:13:00
Posts: 88
Registered: 2013-02-13
Karl, I've done some additional math. I'm going to send a whitepaper and an Excel model over the transom.

Your point about the diminishing returns is true. Even I, who think it is worth something, have determined that at the current market price, each additional coin is worth $11. If Bitcoin were trading at what I consider fair value it would be worth $1.63. So there really is no point in mining any more of it.

I had argued that this should be valued as a network. When you use an objective measure of value--in this case the number of widgets purchased by a bitcoin--the value of the coin increases perfectly with the square of the bitcoin portion of the economy.

I know the math is wrong; I believe I need to use differential equations, but I think in so doing, the situation may be made worse.

So when you see it, please find something wrong with my math. Because what I have is terrifying.

2017-12-07 14:13:00