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Re <<Bitcoin cannot be analyzed through the G & D framework.
Is the framework obsolete?>>
(1) Am struggling, albeit only lightly, with the how's of valuing bitcoin. Lightly because I would similarly, lightly, puzzle-out the how's of valuing gold. Going heavy be a waste of time better spent on reading about various utility tokens, not so much to make speculation wagers, but to simply get a feel of what is out there, where few are at, before the onrush of many, all crying out, "give me my crypto"
The entire crypto space tokens rightly are valued on two factors, and the factors are measurable to a degree, but alas, by expression in the price of the crypto in question.
The internet 1.0 and 2.0 creations used to be measured by clicks and eyeballs. Wasn't exactly wrong, for clicks & eyeballs are prerequisites to revenue.
Take Casper, and many other PoS (Proof of Stake) tokens Proof_of_stake
... nodes that act as one of many validator for the network that operates blockchain using the token earn an income denominated in same tokens, and the number of tokens needed for the network to work is in turn a function of adoption of the network to do whatever commercial acts the users do, whether it be transacting patents, paintings, insurance policies, or equity shares wrapped inside of the tokens.
So easier to value the utility tokens by their earning power, and right now, for Casper, something like 6% yield.
Of course, as the adoption rate increases, and the fiat dilution happens, the value of the token in fiat terms ought to rise.
Then there is hype associated w/ adoption, per news flow. All quite rational.
(2) Bitcoin is a puzzle, but a beautiful puzzle, because as gold is a puzzle in our universe, bitgold a puzzle in metaverse :0)
For all I can reckon, bitcoins have associated mining / minting cost, a rising cost, and its quantity is limited to 21M coins. For all I can figure, one fine day each whole bitcoin might take on a numismatic value as be antique coins. I would think the first coin auctioned out of Nakamoto Satoshi's private collection, if verified, would command a premium even when priced in bitcoin terms, never mind fiat money.
Our universe is colliding w/ metaverse, and reality as we knew is changing. We best change along to get along.
:0)
Buffett? he and Charlie, as would Tom & Jerry, would be gobbled up by the lion, king of jungle, that be gold, and never mind Godzilla that is bitcoin.
G & D works I suspect, in our universe, and in metaverse, however the gold money in metaverse is bitgold, not fiat.
Metaverse growing by leaps and bounds, our universe in chaos and leveraged to the rim. Collision happening, and energy released, our universe might not survive, so not surprising that the currency exchange rate between the dominant currency US$ of our universe is not acting well against the dominant currency of metaverse.
