the concept of “intrinsic value” is a scam
it’s all just social consensus
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The only value something has is what someone is willing to pay for it.
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Exaaaaactly
There needs to be substance for it to endure
assets with more substance (what I might call utility?) have a higher likelihood of sustaining their social consensus over a longer duration
but all pricing is relative to all other options, nothing has an intrinsic price
