BADcoin Auction Value Afterthoughts
The purpose of the BADcoin auction at http://br549.mywebcommunity.org/badcoin was to explore real-world value of BAD. The cactus cowboy toy sold for 60,000 BAD. Let’s do some fourth grade math and third grade logic…
To measure value, you go to the open market and allow the invisible hand to whisper to you. So, I went to ebay. It’s hard to find the cowboy cactus, at least one alone in the exact version sold in the BAD auction.
The same toy is on ebay as a “custom ornament” for $11.24 at https://ebay.to/2QwQS65.
The same toy is on ebay along with a bird buddy for $8.60 at https://ebay.to/2EyUjnR. I’ll split it in half and say the cactus is up for $4.30.
The same toy is on ebay along with his bird buddy for $5.50 at https://ebay.to/2Wojt2M (sounds like a deal!). Split in half, that’s $2.50.
The different version of the cactus toy on ebay is up for sale for $9.99 at https://ebay.to/2K4FwVB.
Yet another different version on ebay, where the cactus is signaling “touchdown” or something, is going for $2.24 at https://ebay.to/2QrmOIL.
So, we’ve got the following very rough values for the cowboy cactus:
11.24
4.30
2.50
9.99
2.24
Averaged, this puts the cowboy cactus’ USD value at $30.27 / 5 = 6.054. Call it $6.05.
Another way to assess the value would be to use the market forces of BAD to figure the value. On the BOA Exchange where BAD is trading, https://boaexchange.com/market/BAD_BTC, BAD has been pretty stable lately at 0.00000002 BTC. That’s two satoshis for one BAD. The cactus sold for 60000 BAD. So, 60000 times 0.00000002 = 0.0012 in BTC. A quick conversion at http://br549.mywebcommunity.org/ shows 60000 BAD as having a USD value of $9.65.
That’s actually right in the “ballpark range” that ebay was showing. It looks like free and open markets actually do work!
So, what’s a BAD worth right now in USD?
Ebay price of 6.05 divided by 60000 equals 0.000100833. One BAD = $0.000100833.
Auction price of 9.64 divided by 60000 equals 0.0001606666. One BAD = $0.0001606666.
The average of the ebay and auction price is $7.845, divided by 60000 equals 0.00013075. One BAD = $0.00013075.
So, need a BAD-to-USD value configurator?
Suppose you ask, “How much USD is that BADcoin worth?”
Multiply amount_BAD X 0.00013075 to get your USD value. For instance, 60000 BAD X 0.00013075 = $7.85.
Suppose you ask, “How much is that [item] worth in BADcoin?”
Divide the USD value of the item by 0.00013075 to get the BAD value. For instance, suppose you have a $15 pizza and wonder what price would be in BAD. 15 divided by .00013075 = 114,722 BAD.
Of course, in the world of crypto, all of these numbers will be totally wrong tomorrow, either up or down!