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A new model of fair value for bitcoin

According to analysts of the Swiss kleptomanka SEBA, the fair value of bitcoin at the moment is $10 670.

The Bank presented two innovative models for evaluation of cryptocurrencies based on the same concepts as for traditional currencies, but offer a more General framework with a comprehensive approach to kriptonyte where there is no financial system, yield curve, intrinsic value and economy to support the cryptocurrency.

According to experts, only a combination of a trusted blockchain and a well-designed currency, enclosed in an appropriate set of rules (Takenaka), has value. So their first model estimates the fair value of bitcoin consists of four main factors, which reflect the essence of the native value of the cryptocurrency network, the permanence of the monetary policy and the currency type. The first two terms describe the basic block chain, or the demand for secure storage, and the last two characterize the cryptocurrency, that is, offer a certain type of currency.

The model uses a rather sensitive variables, the number of users and monetary policy. In addition, the formula takes into account the speed of the hash, and this greatly affects the price of cryptocurrency.

The second proposed model compares courses within the cryptocurrency cryptocurrency space.

It is based on the absence of arbitrage and parity of mining, the actual equality of the expected returns of mining of cryptocurrencies with the same algorithms of consensus.

The Bank argues that there is empirical data which strongly support the existence of parity of mining.

According to the models, at the moment a fair price the first cryptocurrency should be $10 670, taking into account the reduction of the level of difficulty after the may halving.

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