[jjoonathan]

Supply and demand determine the value of everything and they are both additive. Each piece of supply tips the price scale lower, each piece of demand tips it higher. You have taken several key pieces off the scale, argued (unconvincingly) that each one individually cannot explain the scale's reading, and then (even more unconvincingly) claimed that the scale's reading is therefore completely arbitrary.

It isn't. You just don't seem to understand how it works.

[hueving]

The comment is just a direct rebuttal of the claims from CPLX for the reason that gold is so valuable.

[rs86]

Read up on sunspot equilibria and multiple equilibria.