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posted 3 years ago by CavePeasant 3 years ago by CavePeasant +92 / -1

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– dabdaddy 0 points 3 years ago +2 / -2

"Intrinsic" value is a faulty concept. It's always the case that humans value something based on its usefulness for a specific purpose.

The value is not an inherent property of something but a reflection of people's demand for it. Similarly, something only needs to be "backed" by something else if it is missing the properties that people value.

Bitcoin has many attributes that are fundamentally similar to gold (which humanity values at over $10 trillion), and are often superior precisely because of bitcoin's digital nature.

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2024.12.01 - 48gzt (status)