Financial consultancy says that Bitcoin's value is speculative and as a currency it should be worth $810 / Boing Boing
Bitcoin
Financial consultancy says that Bitcoin's value is speculative  and as a currency  it should be worth $810
Wall Street consultants Quinlan & Associates have published "Fool's Gold: Unearthing The World of Cryptocurrency " a $5000  156-page report that predicts that  Bitcoin  will drop to $1800 by next December  and down to $810 by 2020 ( it  is currently trading in the $14 000 range).
According to Business Insider's summary  the report's argument is that the irreducible complexities of using Bitcoin as a payment mechanism limits its long-term value  and the current high valuations are an artifact of speculation.
"As an asset  we valued Bitcoin using a cost of production approach and a store of value approach  resulting in values of USD 2 161 and USD 687 respectively. To value BTC as a currency  we estimated its utilization for both legal  retail transactions payments  as well as payments in the black market. After significant testing  we calculated the price of BTC 1 to be USD 1 780."
Financial consultancy says that Bitcoin's value is speculative  and as a currency  it should be worth $810
Wall Street consultants Quinlan & Associates have published "Fool's Gold: Unearthing The World of Cryptocurrency " a $5000  156-page report that predicts that  [TGT]will drop to $1800 by next December  and down to $810 by 2020 ( [TGT]  is currently trading in the $14 000 range).
According to Business Insider's summary  the report's argument is that the irreducible complexities of using Bitcoin as a payment mechanism limits its long-term value  and the current high valuations are an artifact of speculation.
"As an asset  we valued Bitcoin using a cost of production approach and a store of value approach  resulting in values of USD 2 161 and USD 687 respectively. To value BTC as a currency  we estimated its utilization for both legal  retail transactions payments  as well as payments in the black market. After significant testing  we calculated the price of BTC 1 to be USD 1 780."