回复：当前比特币经济模型不可持续
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精彩的分析，xc。
对于一种预期会升值的东西，理性的市场价格已经会反映预期未来增长的现值。在脑中，你会做一个概率估计，权衡它继续增长的可能性。
在没有市场确定价格的情况下，NewLibertyStandard 根据生产成本做出的估算是一个很好的猜测，也是很有帮助的服务（谢谢）。任何商品的价格往往会趋近于生产成本。如果价格低于成本，生产就会放缓。如果价格高于成本，就可以通过生成并销售更多来获利。同时，增加的产量会提高难度，使生成成本趋向价格。
在更晚的年份里，当新币生成量只占现有供应量的一小部分时，市场价格会比反过来更能决定生产成本。
目前，生成投入正在迅速增加，这表明人们估计现值高于当前生产成本。
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Excellent analysis, xc.
A rational market price for something that is expected to increase in value will already reflect the present value of the expected future increases. In your head, you do a probability estimate balancing the odds that it keeps increasing.
In the absence of a market to establish the price, NewLibertyStandard's estimate based on production cost is a good guess and a helpful service (thanks). The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more. At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price.
In later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around.
At the moment, generation effort is rapidly increasing, suggesting people are estimating the present value to be higher than the current cost of production.