Why the current price of bitcoin legacy (btc) does not reflect its real value

Without Fear Blocked Unblock Follow Following Dec 30, 2017

When someone asks me the price of bitcoin, I say $2.2k — or whatever the bch ticker indicates. This is the only bitcoin price determined through an independent price discovery process, where buyers and sellers are free to interact.

The market price of any asset/entity is determined through a process known as price discovery, which is defined as “the process of determining the prices of assets in the marketplace through the interactions of buyers and sellers.”

Bitcoin legacy (btc) is sold for more, $13k at the time of writing, but this constitutes no price because there is no independent price discovery process in place. The implementation of a price discovery process is impossible because buyers are not free to interact & communicate with each other as result of the censorship going on in bitcoin legacy’s reddit community with over 600k subscribers.

At least once, everyone has come across Amazon listings with exaggerated prices and exaggerated claims in the description. Then you go through the reviews and read not as described, broken, scam, etc. The seller is ultimately forced to decrease the price for every negative review that exposes the product for what it is. Now imagine a scenario where the seller is able to remove any reviews he doesn’t like; the price will keep going up and even though more and more people in real life complain about the product the listing itself will look perfect. Any newbie won’t think twice but go all in.

This is why there can be no price discovery if buyers are not allowed to communicate freely with each other. $13k is a fantasy, not a price.

Here is a full story of the censorship going on in bitcoin legacy’s bitcoin community /r/bitcoin. Or try it yourself.