Topic: Intrinsic value of Bitcoin and Gold - page 2. (Read 260 times)

Indeed. Bitcoin has intrinsic technological value in its ability to digitize shininess.

Better how?  Can't eat it. Can't drink it. Can't breathe it. Sitting in my hand (and capable of no current "gold purpose") it provides exactly ZERO value to me.


And while you are waiting... Perhaps consider spending some of it.  Actively search out businesses that accept it as payment and reward those business with your purchase instead of their competitors.  You can purchase replacement bitcoin for what you've spent so that you don't miss out on future growth.


I suppose that depends on what currency you compare it to.

If you live in Venezuela, then on Nov. 11, 2019 you could buy 1 ounce of gold for about
37,398,290 Bolivar

Exactly a year later, you could sell it for about
997,333,600 Bolivar

That's a 250% increase in gold value relative to the Bolivar in just one year!

Sure, but Bitcoin dropped from $19,600 on December 17, 2017 to only $3,125 less than a year later on December 15, 2018 That's a value of only 15.9% of the high.
Gold did NOT drop to a price that was only 15.9% of its value over that same time period.  On December 15, 2018 it had only dropped to 98% of its December 17, 2017 value (from $1260.60 per ounce to $1235.35).  If you needed to access that money in December of 2018, which one would have preferred to have purchased in 2016? The gold, or the Bitcoin?  You're just fortunate that you were able to hold out until Bitcoin exchange rate recovered.

Yeah, that sentence "Bitcoin has no intrinsic value" is tipically said by haters and nocoiners. It is a rationalization that tries to justify why they could have shared at $1, $10, $100 etc. and did not. Gold and other precious metal lovers must be especially concerned, because they are the ones who are particularly threatened. The intrinsic value of Bitcoin lies in the fact that you can easily cross borders with $ 1 billion and similar amounts, or send them in a few minutes to the other side of the planet, while with gold this is impossible.

Why does it matter that "you still have something in your hand"? If it does collapse for whatever reason, you might as well just have a typical rock. It's not like gold is going to be more useful just because it's shinier.

yeah , but if gold collapses ,you still have something in your hand.
Better than a seed of 24 words and a Ledger nano S .

But I too am holding BTC, waiting for the price to go up.

 I have a few 1oz. gold coins too, but I don't expect their price to sky rocket .
I bought then in 2016 and the price has risen about $800 per ounce .
Pretty good compared to the stock market , but BTC leaves gold in the dust .

Just thinking of talking points to debunk the "Bitcoin has no intrinsic value" narrative.

So here is one train of thought...

-The intrinsic value of gold is much less than its speculative value.
-The electronics value is about 10% of its value.
-The jewelry value is only so much because gold is in itself overvalued.

Therefore you could say that - if nothing else - the intrinsic value of Bitcoin is that it is a portable alternative to the non-intrinsic value of gold.