Fed Puts 'Hypothetical' Price on Bitcoin -- $1,800

I completely missed this Federal Reserve report where they essentially say that bitcoin is worth $1,800 in 'true' value. 

https://www.frbsf.org/banking/publications/fintech-edge/2018/may/making-sense-of-bitcoin-price-levels/

The price is derived from how much it costs to produce, so the fed is treating it like gold or silver mining: 

"Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate)."

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80% of the Bitcoins are mined in China where 60% of the power is generated by coal. So half of the Bitcoins are mined from chinese coal.

Rather funny that the "currency of the future" is powered by the "energy of the past"

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