I'm sitting at my kitchen table at 6:31 PM ET on Friday, December 1, 2017. The price of Bitcoin is $10,790.58.
PARIS, FRANCE - DECEMBER 05: In this photo illustration a man holds a visual representation of the digital Cryptocurrency Bitcoin. It's here that I'm reminded of something Warren Buffet's often said. Price is what you pay, value is what you get.
So what value does a Bitcoin buyer get in exchange for $10,790.58 of his or her hard earned U.S. dollars? That's what I'm going to attempt to answer in this article.
Before we can attempt to value Bitcoin, we first must agree on what it is. That turns out not to be so easy.
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