I've seen plenty of calculations for the upper potential of the cryptocurrency market -- when I see these speculations, I have to ask myself - as a scientist - what are the first principles?
These calculations are always in the context of USD.
USD?.....Really?
What kind of rubbish unit is that? How can we predict the value of BTC if our unit is something so contrived and convoluted by humans.
I propose we adapt power in the form of Watts (W) or the number of transactions (Trans) to quantify the ~intrinsic~ value of cryptos.
Thoughts?
its a really good point the whole premise of why crypto is being adopted is to make a currency like the USD eventually second rate and obsolete yet we always look back to it to see how it stacks up in comparison!
It makes me wonder, let's say AndroidPay adopts a crypto which becomes a global "digital cash" - I can imagine the value of the dollar plummeting. What happens in a scenario where the underlying global currency is suddenly obsolete? (Especially one that backs one of the biggest economies in the world)