"Valuation" is a mystery to me... I understand the psychology and the mechanics, and how to "use" that, but I am completely clueless as to the tangible underpinnings.
I know I could move to Salina, KS and buy a beautiful, fully restored and renovated 1920's Craftsman home, 1700 square feet, for $110K. I know that same pile of brick, wood, wiring and plumbing would cost $1.2M in Seattle, 50 miles from here. I know the LAND (aka "location") the house in Seattle sits on would be $300K, $20K in Kansas... so if the wind blows both down, the same pile of wood and nails would be $90K in Kansas and $900K in Seattle? I'm sorry, but carpenters and contractors do NOT make 10x more in Seattle... so something is "not right."
I call it "selling AIR." One of my pet peeves...
I don't understand it either.
which is one of the points I was attempting to make.
if two identical buildings have EXTREMELY different values.
then something ELSE is going on.
same thing with Crypto...it has value..but why?
One of the reasons I'm a proponent of getting a Steem based economy going-- for art, music, services, products-- is to create a tangible reason for the existence of Steem (the token) that few of the other cryptos have.
From where I'm sitting, commerce is the best shot we have at getting to build an alternative economy of sorts. Cryptos... without "something" attached to their blockchains, have (to my way of thinking) no more value than small pieces of paper with pictures of Ben Franklin. It's just an illusion. But if I can actually buy a bag of beans with Steem? Then it suddenly develops a tangible reason for existing. Even if "our economy" is just an agreement between... I dunno, 1/2 million Steemians.
EXACTLY....
oh...and don't forget 3D printing (plans)