Yes that is true, but I guess my point is what gives it a specific value to the point where one could claim it is undervalued or over valued? Number of transactions? Cost of mining? I mean those are some cited valuation methods currently, but they are a bit flimsy. Currently, just about everything is based on speculation that it may have a tremendous use case down the road. However, currently there aren't really any fundamentals that say whether something should be considered undervalued or over-valued. It's all speculation.
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