I do not think you understand what I mean. Value is subjective.
quote:It is difficult to cooperate with a competitor, especially when you do not have the ability to communicate with the competitor. The fundamental law of economics dictates that increased demand for a scarce resource, in this case the deer, will cause the price for the resource to increase if the supply does not increase with the demand. Isn't the brear's desire to eat the deer a form of demand for the deer? If so, then the bear has increased the value you ascribe to the deer.
I don't know. Why don't you try to trade with him.
Not really following your argument.
Subjective versus objective. When some one makes a judgment call, as it were, they are speaking subjectively. When someone renders a decision based on an observable fact, they are speaking objectively. A subjective interpretation is just that: a filtering through of facts through one's own thoughts or feelings. An objective interpretation leans heavily towards unbiased reportage
quote:Your response is just so terse, and I am in a sort of silly mood tonight. Value is determined solely by demand. I have no choice but to agree that without anything living to demand something that something has no value. But you could have used a more entertaining example, like the demand for Tulane football tickets. Nobody wants them so you can get them for dirt cheap.
But my scenario isn't affected by his scenario. Say all living things die off
I've followed these arguments for several weeks now. I know where the participating posters stand on the issue and some of the reasons why. But I don't think I know enough about the fundamentals to form an opinion.
What are the best sites to learn about bitcoin?