[timdaub]

Re: Intrinsic value:

I'm annoyed that the intrinsic value argument is constantly being brought up even by economists against crypto currencies. I have a similar understanding of the concept as you have, in that the value derives from the material eventually - land being most valuable.

However, what many that say BTC has no intrinsic value neglect is the opportunistic value of the traditional banking sector. German Wirecard e.g. went broke and now its stock is worth nothing anymore. Seems there was no intrinsic value either except for a few office chairs I guess.

Nobody warned investors of that. But for Bitcoin, where corruption is less likely given its transparent structure, people keep talking about intrinsic value and how it apparently has none.