Gold is a physical thing that's why it has a physical value.
Bitcoin is a digital currency and its value is based digitally as well. They have their own characteristics and we can't say that Bitcoin doesn't have an intrinsic value because it wouldn't go this far if it doesn't have its own value.
Topic: Bitcoin HAS intrinsic value. Easy explanation. - page 2. (Read 457 times)
I don't agree with you on this analogy because bitcoin is measured in bits which have no real value apart from the value on the exchange which is subject to the demands of bitcoin, and bitcoin as a digital currency is having high value against the other currencies on the world exchange market.
By definition it doesn't. What you said about Ethereum is true, however, Ethereum could stop existing at any point or have some weird vulnerability, etc etc and would stop existing and disappear forever, hence no intrinsic value. Gold cannot ever go down to 0$ because someone somewhere will always be buying it, even if it's just at 1$ and it's not only because it has various uses in real life but also because it's a physical object and will exist almost forever.
If ETH disappears as you stated, some other cryptocurrency will take its place. Just like gold, someone will always buy crypto no matter what due to which it will always have intrinsic value.BTC being a completely digital currency does not imply in any way that it does not have any intrinsic value whatsoever.
Bitcoin has intrinsic value for people all over the world. Getting started with a wallet is simple and obtaining digital money to use and send to anyone around the world is extremely intuitive. Bitcoin has value for those who want to perform cross border payments and/or hold a dependable store of value that is not dollars akin to gold.
it will all come down to the usefulness of bitcoin. when it has usages, then it has value. bitcoin is a decentralized money that nobody can control, censor or reverse. it has high security and provides the user with a good level of privacy. the financial sovereignty achieved by using bitcoin is more than enough intrinsic value for bitcoin.
i liked your brick analogy though.
i liked your brick analogy though.
By definition it doesn't. What you said about Ethereum is true, however, Ethereum could stop existing at any point or have some weird vulnerability, etc etc and would stop existing and disappear forever, hence no intrinsic value. Gold cannot ever go down to 0$ because someone somewhere will always be buying it, even if it's just at 1$ and it's not only because it has various uses in real life but also because it's a physical object and will exist almost forever.
Bitcoin's intrinsic value will always be debated as we are living in a very diverse society where it would be hard to make everybody agree on definition of value. So what can be valuable to me may be worthless to you. In fact, over time what can be valuable yesterday can mean nothing today and yet there is a possibility that can go back and be valuable tomorrow. So does it mean that the intrinsic value of Bitcoin can also be shifting? Well, that can be possible. The thing is that Bitcoin lovers and users do believe that it has a value of its own otherwise they are not gonna be riding the Bitcoin bandwagon. So what can judge the intrinsic value of Bitcoin then? I think we have to leave that to the market.
People would never support Bitcoin if it doesn't have an intrinsic value. Bitcoin's volatility is what makes them think that it doesn't have a real value. As for me, we can't compare Bitcoin with gold when it comes to value because bitcoin is a digital currency and it's characterized as volatile and unlike gold, it doesn't have a physical value because it's digital unless we convert it to fiat.
Actually, everything in the form of investment requires cost / capital to achieve it in the next stage, bitcoin needs capital, gold is the same but there are differences.
Bitcoin, speculation with graphics, analysis in trading in assessing prices to go down and up.
Gold, depending on the real market or called real material.
Bitcoin, speculation with graphics, analysis in trading in assessing prices to go down and up.
Gold, depending on the real market or called real material.
^ opposite of real intrinsic value or physical value, it actually is wasting intrinsic/physical value atm.
When people say intrinsic value, they mean actual physical value. Gold has a physical use, actually in the future gold is going to cost a lot more than it does today, it actually will be worth man than bitcoin even tho I am a bitcoin lover, not because the price will be higher, but because in the future we will be a resource biased economy, we will need to be one, it is the only way that we can do proper calculations so we do not get check mated (stuck) onto a planet or stuck in a solar system.
We will need every gram of gold to get to deep space. By then Bitcoin will be replaced by time if we still need a currency and have not figured out that it is a team game we are suppose to be playing. Sorry bitcoin has no physical value, sure you can print it onto something and make it physical but that actually makes more waste that is not needed and is the opposite of physical value or intrinsic value as people like to say.
I cannot build a house with bitcoins, I can with bricks.
I cannot build a rocket or computers with bitcoin, I can with gold.
It`s physical value, if we measure time/duration towards it not fiat , it will be able to stop the $lavery system we have atm, people have physical value and can produce more physical things of value (like food). Actually that physical people value is what keeps everyone alive today, producers. (farmers mostly)
As for now it is the bankers and politicians back door.
The people will catch on, I look forward to it.
Bitcoin will be worth more than gold for about 100 years, Bitcoin will die, Gold will not become the money supply, We won`t need one anymore. We will only need to figure out how much resources we need to get to the next world, and if we do need one, it will be time, But I have faith in my species to understand in 100 years, that we are on a team. We will figure out what causes the greed gene and destroy it in the future.
https://www.youtube.com/watch?v=XQQYbKT_rMg take it from star trek
All the planets are headed towards the core, not just the planets the galaxies. We will have to achieve going faster than light speed in order to not go through the core. Sure we can go away from the core not at light speed and reach other universes, But in order to dodge the wormhole everything is headed to, we will have to achieve speeds that may even be faster than light speed. No one has a real clue how fast everything is going towards this core.
When people say intrinsic value, they mean actual physical value. Gold has a physical use, actually in the future gold is going to cost a lot more than it does today, it actually will be worth man than bitcoin even tho I am a bitcoin lover, not because the price will be higher, but because in the future we will be a resource biased economy, we will need to be one, it is the only way that we can do proper calculations so we do not get check mated (stuck) onto a planet or stuck in a solar system.
We will need every gram of gold to get to deep space. By then Bitcoin will be replaced by time if we still need a currency and have not figured out that it is a team game we are suppose to be playing. Sorry bitcoin has no physical value, sure you can print it onto something and make it physical but that actually makes more waste that is not needed and is the opposite of physical value or intrinsic value as people like to say.
I cannot build a house with bitcoins, I can with bricks.
I cannot build a rocket or computers with bitcoin, I can with gold.
It`s physical value, if we measure time/duration towards it not fiat , it will be able to stop the $lavery system we have atm, people have physical value and can produce more physical things of value (like food). Actually that physical people value is what keeps everyone alive today, producers. (farmers mostly)
As for now it is the bankers and politicians back door.
The people will catch on, I look forward to it.
Bitcoin will be worth more than gold for about 100 years, Bitcoin will die, Gold will not become the money supply, We won`t need one anymore. We will only need to figure out how much resources we need to get to the next world, and if we do need one, it will be time, But I have faith in my species to understand in 100 years, that we are on a team. We will figure out what causes the greed gene and destroy it in the future.
https://www.youtube.com/watch?v=XQQYbKT_rMg take it from star trek
All the planets are headed towards the core, not just the planets the galaxies. We will have to achieve going faster than light speed in order to not go through the core. Sure we can go away from the core not at light speed and reach other universes, But in order to dodge the wormhole everything is headed to, we will have to achieve speeds that may even be faster than light speed. No one has a real clue how fast everything is going towards this core.
I’ve been in this space since 2014, and the common criticism of Bitcoin is that unlike gold it has no intrinsic value. I always found this hard to respond to, usually saying things like “they just don’t get it,” etc.
But it finally dawned on me. And the best analogy I can think of is as follows:
Bitcoin is like a brick.
To build a house, you need bricks, and bricks cost money.
To build/utilize the bitcoin network, you need bitcoin (or the bricks of the network).
The more scarce the bricks are, the more they cost.
The greater the network effect, the more demand there is for bricks.
Nothing demonstrated this more than Ethereum during the ICO craze.
ICOs were built on Ether. Ether was the brick.
To participate in ICOs, you needed to buy Ether.
Ether became scarce, and thus the brick became more expensive.
ICOs died, and the bricks became less valuable.
This is the best analogy I can come up with.
But it finally dawned on me. And the best analogy I can think of is as follows:
Bitcoin is like a brick.
To build a house, you need bricks, and bricks cost money.
To build/utilize the bitcoin network, you need bitcoin (or the bricks of the network).
The more scarce the bricks are, the more they cost.
The greater the network effect, the more demand there is for bricks.
Nothing demonstrated this more than Ethereum during the ICO craze.
ICOs were built on Ether. Ether was the brick.
To participate in ICOs, you needed to buy Ether.
Ether became scarce, and thus the brick became more expensive.
ICOs died, and the bricks became less valuable.
This is the best analogy I can come up with.
Bitcoin has intrinsic value because of the infrastructure needed to support it and that will continue to exist: massive numbers of ASICs, buildings, employees, land, etc. The best developers in the world are working on bitcoin and its layer 2 solutions. Additionally, bitcoin is a mathematically-derived priotocol with built-in scarcity.
I’ve been in this space since 2014, and the common criticism of Bitcoin is that unlike gold it has no intrinsic value. I always found this hard to respond to, usually saying things like “they just don’t get it,” etc.
But it finally dawned on me. And the best analogy I can think of is as follows:
Bitcoin is like a brick.
To build a house, you need bricks, and bricks cost money.
To build/utilize the bitcoin network, you need bitcoin (or the bricks of the network).
The more scarce the bricks are, the more they cost.
The greater the network effect, the more demand there is for bricks.
Nothing demonstrated this more than Ethereum during the ICO craze.
ICOs were built on Ether. Ether was the brick.
To participate in ICOs, you needed to buy Ether.
Ether became scarce, and thus the brick became more expensive.
ICOs died, and the bricks became less valuable.
This is the best analogy I can come up with.
But it finally dawned on me. And the best analogy I can think of is as follows:
Bitcoin is like a brick.
To build a house, you need bricks, and bricks cost money.
To build/utilize the bitcoin network, you need bitcoin (or the bricks of the network).
The more scarce the bricks are, the more they cost.
The greater the network effect, the more demand there is for bricks.
Nothing demonstrated this more than Ethereum during the ICO craze.
ICOs were built on Ether. Ether was the brick.
To participate in ICOs, you needed to buy Ether.
Ether became scarce, and thus the brick became more expensive.
ICOs died, and the bricks became less valuable.
This is the best analogy I can come up with.
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