Skip to main content
added 44 characters in body
Source Link
Nick ODell
  • 29.5k
  • 11
  • 73
  • 132

So I guess the question is, does Bitcoin have an intrinsic value

No. You can't eat Bitcoin. Bitcoin has advantages over other forms of barter, but that doesn't give it intrinsic value.

So Gold indeed has a value just for being Gold!

I agree. Gold has uses besides as a medium of trade. However, the market value of gold is far higher than its intrinsic value. If I had to guess, I'd say that gold's intrinsic value is about $100 per kilogram.

If people of that country don't have Bitcoin bank, then that immediately means that Bitcoin value is almost 0 in that country. If Bitcoin's value is zero, no bank would want to spend money to build a branch there.

Bitcoin didn't have any value immediately after it was created. Yet, there are still companies that exchange Bitcoins for other currencies. So, there's something wrong with this argument.

is because even if Gold is not money in the country, it's still a commodity to be sold to get money!

Um, by this logic, xylophones and bananas are money.

So I guess the question is, does Bitcoin have an intrinsic value

No. You can't eat Bitcoin. Bitcoin has advantages over other forms of barter, but that doesn't give it intrinsic value.

So Gold indeed has a value just for being Gold!

I agree. Gold has uses besides as a medium of trade. However, the market value of gold is far higher than its intrinsic value. If I had to guess, I'd say that gold's intrinsic value is about $100 per kilogram.

is because even if Gold is not money in the country, it's still a commodity to be sold to get money!

Um, by this logic, xylophones and bananas are money.

So I guess the question is, does Bitcoin have an intrinsic value

No. You can't eat Bitcoin. Bitcoin has advantages over other forms of barter, but that doesn't give it intrinsic value.

So Gold indeed has a value just for being Gold!

I agree. Gold has uses besides as a medium of trade. However, the market value of gold is far higher than its intrinsic value. If I had to guess, I'd say that gold's intrinsic value is about $100 per kilogram.

If people of that country don't have Bitcoin bank, then that immediately means that Bitcoin value is almost 0 in that country. If Bitcoin's value is zero, no bank would want to spend money to build a branch there.

Bitcoin didn't have any value immediately after it was created. Yet, there are still companies that exchange Bitcoins for other currencies. So, there's something wrong with this argument.

is because even if Gold is not money in the country, it's still a commodity to be sold to get money!

Um, by this logic, xylophones and bananas are money.

added 44 characters in body
Source Link
Nick ODell
  • 29.5k
  • 11
  • 73
  • 132

So I guess the question is, does Bitcoin have an intrinsic value

No. You can't eat Bitcoin. Bitcoin has advantages over other forms of barter, but that doesn't give it intrinsic value.

So Gold indeed has a value just for being Gold!

I agree. Gold has uses besides as a medium of trade. However, the market value of gold is far higher than its intrinsic value. If I had to guess, I'd say that gold's intrinsic value is about $100 per kilogram.

is because even if Gold is not money in the country, it's still a commodity to be sold to get money!

Um, by this logic, xylophones and bananas are money.

So I guess the question is, does Bitcoin have an intrinsic value

No. You can't eat Bitcoin. Bitcoin has advantages over other forms of barter, but that doesn't give it intrinsic value.

So Gold indeed has a value just for being Gold!

I agree. However, the market value of gold is far higher than its intrinsic value. If I had to guess, I'd say that gold's intrinsic value is about $100 per kilogram.

is because even if Gold is not money in the country, it's still a commodity to be sold to get money!

Um, by this logic, xylophones and bananas are money.

So I guess the question is, does Bitcoin have an intrinsic value

No. You can't eat Bitcoin. Bitcoin has advantages over other forms of barter, but that doesn't give it intrinsic value.

So Gold indeed has a value just for being Gold!

I agree. Gold has uses besides as a medium of trade. However, the market value of gold is far higher than its intrinsic value. If I had to guess, I'd say that gold's intrinsic value is about $100 per kilogram.

is because even if Gold is not money in the country, it's still a commodity to be sold to get money!

Um, by this logic, xylophones and bananas are money.

Source Link
Nick ODell
  • 29.5k
  • 11
  • 73
  • 132

So I guess the question is, does Bitcoin have an intrinsic value

No. You can't eat Bitcoin. Bitcoin has advantages over other forms of barter, but that doesn't give it intrinsic value.

So Gold indeed has a value just for being Gold!

I agree. However, the market value of gold is far higher than its intrinsic value. If I had to guess, I'd say that gold's intrinsic value is about $100 per kilogram.

is because even if Gold is not money in the country, it's still a commodity to be sold to get money!

Um, by this logic, xylophones and bananas are money.