Discussion
I have a Breedlove tweet on this bookmarked ready to dunk on ppl 😂
Value is subjective, always. Even with the most historically valuable items like gold, if one has no use for it or cares not for it then it’s not worth much.
Intrinsic Value is defined as anything that sustains life on this planet. Therefore, can you feed yourself with it, shelter yourself with it, and protect yourself with it? Anything that falls in these categories has intrinsic value.
Moreover, the concept of money (medium of exchange) is mind control created to keep our Species as slaves. We think money has value as this is literally mass psychosis.
Bitcoin, due to its scarcity, carries with it purchasing power, not value. In a world currently ruled by mind control on the concept of money, Bitcoin is the best form of a medium of exchange. It is the best digital ledger. However, Bitcoin will need to become a distant memory as it will be the bridge to get us out of this mind control.
Eventually, as we become more enlightened as a Species we will no longer need a medium of exchange and realize that everything on this planet is abundant and proof of work will provide all that we need to thrive.
Under this definition explain the higher value we put on diamonds over water.
Value is subjective. Intrinsic value is objective.
What use does your definition of intrinsic value have thou? For example, what is the use of sustaining life if it is spent in a coma? Why should we consider goods that assist in such a thing have intrinsic value?
God has infinite intrinsic value. Humans, who are made in the image and likeness of God, have finite intrinsic value. Those things humans need and want have borrowed value, that is subjective value, in proportion to the need or want.
Goldbugs owned
Having any value beyond just being money adds noise to pure price signal.