“I think the traditional qualifications for money were written with the assumption that there are so many competing objects in the world that are scarce, an object with the automatic bootstrap of intrinsic value will surely win out over those without intrinsic value. But if there were nothing in the world with intrinsic value that could be used as money, only scarce but no intrinsic value, I think people would still take up something.” - Satoshi Nakamoto
Discussion
Yeah, that's the thing about "intrinsic value" – it's kinda old school when you're talking money. Bitcoin shakes that up.
It doesn't have intrinsic value like gold or silver, but it's scarce and useful. That’s enough for people to give it value as money.
We're used to valuing stuff we can hold, but in a digital world? Scarcity and utility are king. And Bitcoin is all about that digital scarcity life!