If 1.00 bitcoin is currently used for 10 transactions a year with an average value of $100, the bitcoin network is three percent cheaper than the average next best alternative, and this dynamic is maintained for 10 years, multiplying these arbitrary sample inputs values 1.00 bitcoin at $300.
I don’t understand this at all. If I write ten $100 checks a year, and processing a check is three percent cheaper than processing a credit card, does that mean every check in my checkbook is worth $300? (Somebody please say yes.)
I mean, if a bitcoin is valued at $300, why would I ever exchange it in a transaction for $100?
I don’t understand this at all. If I write ten $100 checks a year, and processing a check is three percent cheaper than processing a credit card, does that mean every check in my checkbook is worth $300? (Somebody please say yes.)
I mean, if a bitcoin is valued at $300, why would I ever exchange it in a transaction for $100?
I agree – what I found interesting is this comes from the co-founder of Coinbase.