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What is the intrinsic value of any currency? Also zero…
Another comment here sums it up well:
> The tech guys don’t understand the business cases for crypto. The business guys don’t understand the value of the underlying tech.
Things only have the value that people assign to it.
its funny that I had an exchange on this exact issue recently on this subreddit and I was basically insulted for questioning the intrinsic value of bitcoin
there are various types of value, market value, replacement value, trade value, book value and so on, each with their own unique flavour to add to the term value
in this case intrinsic value also has its own meaning, and to me this refers to the “use” value of the money in question, and the test for this is as follows- of what use is the money to the person if they cannot use it as a means of exchange?
Bitcoin and cryptocurrencies are built on whataboutism. “Oh, look, your paper currency is fiat, and really has no value! Since it has no value, why not invest in our cryptocurrency on a fiat basis?”
They somehow believe that the fact that “fiat currency” can get printed and lose value if you have a shitty regulatory agency, even though that normally isn’t a major issue for most people, that that’s a far greater concern than placing a trust with a currency that can’t be regulated, that is much easier to finance and launder crime with, and who’s inherent value cannot just diminish in value over the years, but does so constantly as it continues to be push, dumped, and gamed like crazy. Furthermore, unlike paper, the fabrication and maintenance cost of cryptocurrencies tends to be much higher.
Intrinsic value is a misnomer.
The only reason something has value is because humans want it and attribute value to it.
Bitcoin will stay relevant as long as people want it to.
It’s simple as that.