Bitcoin again

Let me say this up front: I don't want to affect anyone's good or bad feelings about Bitcoin. Bitcoin, like gold, isall their virtues lie on the periphery of myscientific interests. But I try to follow a little scientific discussions about the pricing models of gold and bitcoin. Today I came across information about a very original model of the American Claude Erb.

He views Bitcoin as digital gold.The price of gold in his view can be decomposed into a “gold constant” fair price and fair price deviation. Likewise, the price of Bitcoin can probably be decomposed into a dubious fair price of the “bitcoin network” and a fair price deviation.

Both Bitcoin and gold are now according to his calculationsare approximately 50% above their “fair prices”. Erb's publication can be found here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3746997. The approach he uses: "Metcalfe's Law" - here: https://www.thegeniusworks.com/…/metcalfes-law…/ Read about this news in Barron's today. So it's probably pretty serious.
© text Alexander Abramov

P.S.
Only some of the posts are on the smartlab, the rest are in telegrams.
(some Smartlab members don’t like it when they put a link to a telegram in a post, if you’re one of them, sorry)