[Casa de inquietante Musica…]
Just read somewhere that Litecoin had jumped from $100 to $30.000 in one year. Bitcoin, same sort of jumps up and down all over the place. And other, less known eCurrencies will probably have the same patterns.
My question now is: Would someone know how to establish the proper value vis-à-vis ‘old’ currencies – with all their absolute sameness as described in an earlier post. Given that everything is artificial (and economically, relatively! simple) about these ‘new’ currencies, there should be some formula to determine its true ‘value’ (however expressed..!), shouldn’t it?
Yes, I know, it’s whatever the markte price would be (expressed in something as extremely flimsily, asymptotically non-, defined as the ‘dollar’ unit of value). But surely, we may construct some formula now that the underpinning elements of value can be established so much better ..?