Nostr Web Client

Intrinsic value does not exist.

Individuals value the next marginal unit of a good according to it's marginal utility - in other words the next most pressing need that good will be put towards.

If I already have 15 steaks, I might give the next one to my dog. Iwoild not value that steak as highly as I value the first one, which is an essential purchase for me to meet my nutrient requirements.

Don't let gold bugs fool you into the existence of 'intrinsic value'

Were there not a human to value it, it would be valueless.

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Discussion

Pawn Dev 11mo ago

Even so, the possibility to send and recieve digital information in a safe and permitionless fashion through a robust network has utility value as much as any other good or service. People who attack bitcoin on these grounds of having "no intrinsic value" create a strawman and take the simple digital number of units on a person's wallet app to be the whole of the bitcoin structure and network. It is either stupidity or malice... Though these two usually come hand in hand

BitofBitcoin 11mo ago

The argument that Bitcoin has no intrinsic value is a nonsense brain fart that fails to understand even the most simple concepts in economics. I agree that it's probably malicious a lot of the time - I'm fairly convinced someone like Peter Schiff understands full well that Bitcoin ticks every box necessary for a 'money'. Thanks for commenting, it's nice to get some engagement as a new Nostr user.