Why does Bitcoin have nonzero value?
It's secure and can be "sent" instantly etc etc
But those processes are only valuable if Bitcoin is valuable
So why does Bitcoin have nonzero value?
Discussion
It's way more scarce than the currencies you are measuring it against. This feature is also very, very hard to change in the future. Should it ever change everyone would be able to see it happen right away. Predetermined inflation. Supply is openly verifiable. It's a bearer asset, not an IOU slip. Those few are why I value it, for more feedback you can turn to the market.
You can touch your gold all day long, but bitcoin is superior money.
Way, way more scarce - there isn't any!
Corporations and states are investing billions in hardware to attain that which isn't there. The market is wrong will probably be your next argument.
Cryptography and math make shiny rocks obsolete.
Not another, but a better form of money.
Is the market wrong to value gold?
Is the market wrong to value fiat notes?
The Bitcoin maxi case can't depend on the current valuation of Bitcoin because doing so validates fiat & gold as well (and of course the historical value of South Sea Company stock & Enron stock would be defended as well)
This is assuming gold and Fiat is the only way to value Bitcoin.
A more probably cause for this discussion is you don’t understand Bitcoin, and that’s okay.
Is your argument that bitcoin will die because people wont have anything to value it against once fiat dies?
My argument is we will revert to barter & only True Believers will accept Bitcoin, and they will quickly lose faith when they see how few other True Believers there are.
Also, you might lose electricity or Internet temporarily.
Go back in history and see how well humanity has dealt with setbacks of their living standard.
Maybe some will go back to barter, most will not, when they see how easy it is to use Bitcoin.
This may happen. It also may not, in which case it is prudent to look into bitcoin while it is being monetized amidst the global fiat printer race.
Yes, as a speculation during fiat collapse I think Bitcoin might temporarily spike in real value.
Similarly, fiat might have a temporary deflationary spike before hyperinflation. I have no desire to hold a bunch of Federal Reserve Notes to speculate on such a situation.
Do as you wish, a lot of people are one-way into bitcoin and cba to speculate on swings. However the monetary pendelum swings is anybody's guess.
"Spike in real value" is refreshing as you have been claiming it has none. Not sure it's a good description for any money as value is highly subjective.
Right now the Bitcoin market price (and thus real value) is above zero - I don't dispute that
I am claiming it will return to zero because there is no real asset, precisely when, as and because fiat currency dies