Chrysanthemums have exploded in their popularity over the past year. Here, first of all, we are thinking of bitcoin, which has increased its value by up to 20 times over the past year, but also noted spectacular falls in value.
But during the whole "crazy driving", as many call the bitcoin adventure, there was a specific question: How much bitcoin is actually worth?
Since bitcoin does not have a point in a specific value, it is already in line with market demand and demand, economists needed a lot of brainpower and computing to reach the final figure. And for many who have invested thousands of kunas (and some even raised a loan), the real value of bitcoins will not be liked.
Namely, as Bloomberg reports, economists have estimated that the real value of bitcoins is only $ 20 (about $ 120).
For a currency worth about $ 1,200 a year ago, it flourished with 20,000, and today it's about $ 8,000.
Savvas Savoui, a London hedge fund partner, and Richard Jackman, a London School of Economics professor, were well versed in finding any economic theory that would fit the bitcoin.
They decided on the theory of quantity of money (or bitcoins). They took into account that around 15 million bitcoins are currently in the world and that each one uses an average of four times a year.
Using economic theories of payment and use of money, they came up with a simple calculation that the real value of bitcoins is only $ 20.
The same theory, different results
But these two economists are not the only ones who used these theories to try to calculate the real value of bitcoins. And others used and received different values.
As explained in Bloomberg, the problem is that we can not know how much bitcoin really will be in use, how much it will be spread all over the world and for what it will be used.
Using different assumptions, various economists have gained $ 20 to $ 15,000.
As one of the main obstacles to determining the value of bitcoin, it is precisely its application. For as long as bitcoin is used only as an investment in the hope that its price will rise, it will not actually have a concrete value on the market.
Bitcoin grew uncontrollably because demand was bigger than supply. That is, as Savouri explains - one fool is buying in the hope that another fool will be paying more.
However, when those who wanted to earn money began massively selling bitcoins, their value quickly began to decrease.
Adding to the announcements by individual states about stopping trading in crypt valued, closing currency exchanges and crypt valued stock exchanges, and introducing more stringent rules, as well as several spectacular crypt vales, it is clear that crypt valued is still a big unknown in the financial and economic world.
Those who initially forecast that by 2020 bitcoin could worth $ 1 million, they are all quieter and cautious in their estimates.
Others point out that the entire story about bitcoin is actually a balloon that will at one time break or blow and bitcoin do it completely worthless.
Ultimately, determining the value of a currency and being virtual and virtual, it depends on a whole range of unknowns. Judging by the different values of bitcoins that are mentioned, in his case obviously one unknown too, to determine the exact value.