| ▲ | lotsofpulp 4 hours ago | |
All valuations are “made up” numbers. | ||
| ▲ | tasuki 4 hours ago | parent | next [-] | |
Some are more made up than others though! | ||
| ▲ | Retric 3 hours ago | parent | prev [-] | |
Price discovery isn’t “making up” a number it’s discovering a number that meets a specific criteria. Critically it’s not simply averaging a bunch of made up numbers. I may think gold is worth 1,000$/kg but if nobody is willing to sell me gold at that price then my “made up” number has zero effect on the market price. | ||