Yes and I believe I asked you to define money. Part of our error in thinking here is understanding what money is. It’s just simply a medium of exchange. Again I’m looking for a 4 word definition.
It’s obvious that you disagree with the Regression theorum but you have yet to demonstrate that you even know what money is and therefore understand the theorum.
Then you need to demonstrate your understanding of the theorum and adequately explain it’s faults. So far you haven’t even addressed it. Which leads me to believe that your knowledge of the theorum extends as far as wikipedia.
Your still not understanding me. If I go to a bitcoin store today. How are these prices detirmined, today. For example what point of reference does bitcoingadget.com use to detirmine that an Nvidia GeForce GT210 should be priced as 64BTC? How did the store clerk detirmine this?
I don’t know how to make this any more clear to you. You keep going off on these tangents on how prices are formed. Thats not what I am asking. If I go to the store TODAY how does the store clerk know how much the graphics card is worth TODAY in bitcoins. How did the store clerk figure that the Geforce card was vendable at 64btc? What point of reference did he use to come to this conclusion? Why does a Nvidia GeForce GT210 cost 64btc? Why not 300btc? or 2btc? What point of reference was used to detirmine 64btc?
Aside from the fundamentals, which bitcoin fails, it also requires an extensive amount of resources for an individual to adopt. The only people who readily have access to it are programming geeks that spend too much time armchair theorizing and not enough time reading. It’s not readily available too the masses and there is no reason for the masses to adopt it as an object worth anything. There is no intrinsic value in it which would drive further investment into the “object”. Money is created bottom up praxeologically speaking, it cannot be imposed top down without the use of coercion.
When you understand markets, and exchange, it makes far more sense.