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Topic: Video explaining "Does Bitcoin have an intrinsic value?" [Bitcoin For Dummies] (Read 1539 times)
June 02, 2014, 08:14:40 AM
May 31, 2014, 06:54:22 AM
I guess nobody really saw it?
May 29, 2014, 01:42:52 AM
so philosophical, much intrinsic
And what about the video?
And what about the video?
May 28, 2014, 05:56:50 PM
We're talking about finance not philosophy here
http://en.wikipedia.org/wiki/Intrinsic_value_(finance)
w rare metal money you have to think of the time when coins were minted w specie. If the King mints a $100 gold coin using $50 (market price) of gold, the intrinsic value is $50 & the extrinsic value is $50
Oh, thank you. I somehow managed to don't find that myself on Wikipedia.http://en.wikipedia.org/wiki/Intrinsic_value_(finance)
w rare metal money you have to think of the time when coins were minted w specie. If the King mints a $100 gold coin using $50 (market price) of gold, the intrinsic value is $50 & the extrinsic value is $50
May 28, 2014, 04:08:38 PM
We're talking about finance not philosophy here
http://en.wikipedia.org/wiki/Intrinsic_value_(finance)
w rare metal money you have to think of the time when coins were minted w specie. If the King mints a $100 gold coin using $50 (market price) of gold, the intrinsic value is $50 & the extrinsic value is $50
http://en.wikipedia.org/wiki/Intrinsic_value_(finance)
w rare metal money you have to think of the time when coins were minted w specie. If the King mints a $100 gold coin using $50 (market price) of gold, the intrinsic value is $50 & the extrinsic value is $50
May 28, 2014, 03:48:14 PM
Quote
Intrinsic value is an ethical and philosophic property. It is the ethical or philosophic value that an object has "in itself" or "for its own sake", as an intrinsic property. An object with intrinsic value may be regarded as an end or (in Kantian terminology) end-in-itself.
http://en.wikipedia.org/wiki/Intrinsic_value_(ethics)If the value depends on the situation, it is not intrinsic.
Then in that case, give me an example of an intrinsic value with undisputed high value in every situation. The "value" of it must be equal in every situation.
If you go back to the example I gave you for silver, its intrinsic value is that it's a great semiconductor, and great for antiseptics. However, these properties will not be useful in every situation, but these properties are still inherent no matter the situation. These are still intrinsic value, but will vary depending on the situation.
Like I said before, I just know the term "intrinsic value" in a philosophical way. I never heard or read some using it in any other context. I am not a philosopher, I read some philosophical books and took some philosophical courses at university, but that is it. If you have ever heard of constructivism you might realise there is nothing undisputed in the philosophical world.
So, my question is, is there another use of this term in maybe the financial markets/economics?
I just now skimmed the wiki link you posted. You used the term intrinsic value relating to ethics, so I think that's the wrong context. We might be debating some totally different concepts, as I don't think we're on the same page.
May 28, 2014, 01:17:59 PM
Intristic value is not only a physical asset, it can be a service. Bitcoin is superb service providing transfer of ownership, therefore it has an intristic value.
Moreover, transfer of ownership in the world is an ever increasing in volume, so there is no fear that it can be redundant.
Moreover, transfer of ownership in the world is an ever increasing in volume, so there is no fear that it can be redundant.
May 28, 2014, 01:13:58 PM
So, I finally watched the video(youtube is blocked at work)
I still disagree with the use of the word "intrinsic value" and the video made that clear. If you don't see being a tool for trade as an intrinsic value, than you can not see crossing borders, can not be counterfeited, etc. as intrinsic values, since this things are just useful, when you use Bitcoins as a tool of trade.
I still disagree with the use of the word "intrinsic value" and the video made that clear. If you don't see being a tool for trade as an intrinsic value, than you can not see crossing borders, can not be counterfeited, etc. as intrinsic values, since this things are just useful, when you use Bitcoins as a tool of trade.
May 28, 2014, 12:55:49 PM
Guys and what about the video that this thread is actually about? 
https://www.youtube.com/watch?v=2R3Zg1KL_KE
https://www.youtube.com/watch?v=2R3Zg1KL_KE
May 28, 2014, 06:03:31 AM
Quote
Intrinsic value is an ethical and philosophic property. It is the ethical or philosophic value that an object has "in itself" or "for its own sake", as an intrinsic property. An object with intrinsic value may be regarded as an end or (in Kantian terminology) end-in-itself.
http://en.wikipedia.org/wiki/Intrinsic_value_(ethics)If the value depends on the situation, it is not intrinsic.
Then in that case, give me an example of an intrinsic value with undisputed high value in every situation. The "value" of it must be equal in every situation.
If you go back to the example I gave you for silver, its intrinsic value is that it's a great semiconductor, and great for antiseptics. However, these properties will not be useful in every situation, but these properties are still inherent no matter the situation. These are still intrinsic value, but will vary depending on the situation.
Like I said before, I just know the term "intrinsic value" in a philosophical way. I never heard or read some using it in any other context. I am not a philosopher, I read some philosophical books and took some philosophical courses at university, but that is it. If you have ever heard of constructivism you might realise there is nothing undisputed in the philosophical world.
So, my question is, is there another use of this term in maybe the financial markets/economics?
May 28, 2014, 05:52:03 AM
Quote
Intrinsic value is an ethical and philosophic property. It is the ethical or philosophic value that an object has "in itself" or "for its own sake", as an intrinsic property. An object with intrinsic value may be regarded as an end or (in Kantian terminology) end-in-itself.
http://en.wikipedia.org/wiki/Intrinsic_value_(ethics)If the value depends on the situation, it is not intrinsic.
Then in that case, give me an example of an intrinsic value with undisputed high value in every situation. The "value" of it must be equal in every situation.
If you go back to the example I gave you for silver, its intrinsic value is that it's a great semiconductor, and great for antiseptics. However, these properties will not be useful in every situation, but these properties are still inherent no matter the situation. These are still intrinsic value, but will vary depending on the situation.
May 28, 2014, 05:32:35 AM
The irony in this thread is hilarious; maybe you should rename it "Bitcoin for Philosophers". 
Nice video though.
Nice video though.
May 28, 2014, 05:01:05 AM
"Intrinsic value" is relative to the situation. If you're drowning in a lake, a bottle of water will have zero intrinsic value. If you're dying of thirst in a desert, that same bottle of water has a very high intrinsic value.
That is not how "intrinsic value" is used.No? Then how is it used. The example I gave is a perfect example. If you want to relate it to the current topic, then silver can also be used as a currency, and at the same time it has other intrinsic value. A lot of it is used in electronics and photography. But if I did not manufacture any electronics, then it would be useless to me in that aspect, but nevertheless it still has the characteristics of a being a good electrical conductor. Likewise, if I wasn't in the medical field, then I wouldn't care for the antiseptic properties of silver. So even though silver has all these intrinsic values, it could still be worthless, depending on the situation.
Quote
Intrinsic value is an ethical and philosophic property. It is the ethical or philosophic value that an object has "in itself" or "for its own sake", as an intrinsic property. An object with intrinsic value may be regarded as an end or (in Kantian terminology) end-in-itself.
http://en.wikipedia.org/wiki/Intrinsic_value_(ethics)If the value depends on the situation, it is not intrinsic.
May 28, 2014, 04:44:55 AM
"Intrinsic value" is relative to the situation. If you're drowning in a lake, a bottle of water will have zero intrinsic value. If you're dying of thirst in a desert, that same bottle of water has a very high intrinsic value.
That is not how "intrinsic value" is used.No? Then how is it used. The example I gave is a perfect example. If you want to relate it to the current topic, then silver can also be used as a currency, and at the same time it has other intrinsic value. A lot of it is used in electronics and photography. But if I did not manufacture any electronics, then it would be useless to me in that aspect, but nevertheless it still has the characteristics of a being a good electrical conductor. Likewise, if I wasn't in the medical field, then I wouldn't care for the antiseptic properties of silver. So even though silver has all these intrinsic values, it could still be worthless, depending on the situation.
May 28, 2014, 03:16:54 AM
I hate the intrinsic value controversy because nobody can agree on what "intrinsic value" means, so there is really no point in discussing it.
Anyway in my view there is no such thing as intrinsic value. All value is completely subjective, therefore it can never be intrinsic.
Anyway in my view there is no such thing as intrinsic value. All value is completely subjective, therefore it can never be intrinsic.
This right here. Value is ALWAYS subjective. Why is a Ferrari worth more than a moped? Because it has a provably higher value? No. Because people are willing to pay more for it.
Value is always changing because the market determines what something is worth (it's the median between what people will sell for and what people will buy for).
May 28, 2014, 03:09:59 AM
It's funny how the term "intrinsic value" comes up more often lately.
I just know it as a philosophical term and remember how a (philosophy) professor at university said something like: "Philosophers argue about if the intrinsic value of a seed is becoming a tree"
Maybe I missed another meaning, but I think "intrinsic value" is just a bad term in this context.
I just know it as a philosophical term and remember how a (philosophy) professor at university said something like: "Philosophers argue about if the intrinsic value of a seed is becoming a tree"
Maybe I missed another meaning, but I think "intrinsic value" is just a bad term in this context.
"Intrinsic value" is relative to the situation. If you're drowning in a lake, a bottle of water will have zero intrinsic value. If you're dying of thirst in a desert, that same bottle of water has a very high intrinsic value.
That is not how "intrinsic value" is used. May 28, 2014, 01:44:48 AM
"Intrinsic value" is relative to the situation. If you're drowning in a lake, a bottle of water will have zero intrinsic value. If you're dying of thirst in a desert, that same bottle of water has a very high intrinsic value.
Yes but I believe most people look for intrinsic value in every day life, since you aren't drowning in a lake all the time every day.
May 27, 2014, 05:13:27 PM
"Intrinsic value" is relative to the situation. If you're drowning in a lake, a bottle of water will have zero intrinsic value. If you're dying of thirst in a desert, that same bottle of water has a very high intrinsic value.
May 27, 2014, 04:56:22 PM
I hate the intrinsic value controversy because nobody can agree on what "intrinsic value" means, so there is really no point in discussing it.
Anyway in my view there is no such thing as intrinsic value. All value is completely subjective, therefore it can never be intrinsic.
Anyway in my view there is no such thing as intrinsic value. All value is completely subjective, therefore it can never be intrinsic.
May 27, 2014, 11:31:56 AM
I don't think the coins do themselves, but the intrinsic value lies in the protocol/network.
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