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Understanding Crypto Fundamentals: Value Investing in Cryptoassets and Management of Underlying Risks
book

Understanding Crypto Fundamentals: Value Investing in Cryptoassets and Management of Underlying Risks

by Thomas Jeegers
May 2023
Intermediate to advanced
315 pages
8h 7m
English
Apress
Content preview from Understanding Crypto Fundamentals: Value Investing in Cryptoassets and Management of Underlying Risks
© The Author(s), under exclusive license to APress Media, LLC, part of Springer Nature 2023
T. JeegersUnderstanding Crypto Fundamentalshttps://doi.org/10.1007/978-1-4842-9309-6_19

Bitcoin’s Replacement Cost Valuation

Thomas Jeegers1  
(1)
Vienna, Austria
 

Chapter 16 explained how electricity costs could be used as input for the valuation of a cryptoasset based on a proof-of-work consensus mechanism. To not break that chapter’s flow, the following computation-heavy example for Bitcoin’s valuation was moved to this appendix.

The valuation of Bitcoin based on its electricity costs is likely the first cryptoasset valuation to ever be established, as it was already used in autumn 2009, when the New Liberty Standard online exchange published the first formal ...

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ISBN: 9781484293096Purchase LinkPublisher Website