How frightening can consensus be?

Jiten171

In the modern world, there are often perplexing phenomena that make me ponder what true value is. Unlike traditional notions of value, in contemporary society, something, even if it doesn't physically exist or is merely a concept, can hold value as long as it garners consensus among the masses and can be traded. It doesn't need to be edible like bread, habitable like a house, or drivable like a car to have value. As long as you perceive it as valuable, and others share that perception, willing to offer a price for ownership, then it possesses value. In essence, consensus equates to value.

Many of our pricey possessions have gained value due to widespread consensus. Not only do they have value, but their prices have also skyrocketed, like properties in desirable school districts. Initially, buying a house was considered a wise investment due to its potential for appreciation, and over the years, it became a consensus in our land.

However, consensus can also be deceptive, as seen with Bitcoin. Not everything that achieves consensus necessarily has real value. Some consensus formations occur because of the greed-driven desire for profit, especially when it keeps rising.

I don't know how long such consensus will last, but I'm aware that this world is constantly evolving, and sometimes, it even turns things upside down. Hence, consensus isn't always cast in stone!

Janak9955

Trust is equivalent to value; if people believe a stone is worth a hundred million, then its value is indeed a hundred million. Conversely, if people perceive gold as worthless, then it holds no value.

Jatin255

The host has provided a very insightful analysis of value. However, all of this is essentially a game played by capitalists. Sometimes, seemingly worthless objects in our eyes can attain unexpected value through their manipulation and speculation. This seems rather unscientific.

Isha000

The stock market has a simple saying: 'Buy on disagreement, sell on consensus.' When everyone agrees and is bullish, that's when you should consider selling.

Jiger955

Consensus is like when we play mahjong, and we use a playing card as a substitute for money. The four of us create a consensus that cards can be exchanged for money, so the cards become equivalent to money for all of you. Therefore, to make something valuable, it starts with making more people believe in it. Ultimately, it's the dreamers and visionaries who spark the fire together.

dharmendar

"Value should be considered a social phenomenon; we may not understand the value of something simply because we do not belong to the consensus group associated with that thing!

gautam

Don't dwell on value in the market! Our focus is on market dynamics and predicting fluctuations; value is just a concept occasionally exploited to deceive.