[illegalsmile]

I was just listening to let's talk bitcoin and it was mentioned that gold has intrinsic value whereas bitcoin doesn't and how people viewed it. Ultimately nothing was resolved and to the outsider listening in it seems that a conversation about intrinsic value is a conversation about semantics at best and philosophical rhetoric at worst. Ultimately, the whole idea of intrinsic value is a waste of time and adds nothing to the conversation for bitcoin or gold.

Maybe the only things that have intrinsic values are the atoms that make up our world and us as without them we have nothing and don't exist. So I guess on that point gold... fuck.

[praxeologist]

Nothing has intrinsic value. I think what the presenters you are talking about are trying to say is that gold has some utility while bitcoin has none. Bitcoin has utility in that it is an incorruptible ledger of transactions, that transactions can take place outside of the legal purview of various states, etc.

Bitcoin has no utility absent the present state of affairs where people believe in statism and government agents actively forbid money besides their fiat regime's. Some Austrian economists fail to see why bitcoin really is money, but it is because it has utility in this manner I mentioned.