Does Bitcoin Have Intrinsic Value?

Рет қаралды 18,884

Күн бұрын

Learn to buy anonymous Bitcoin:
www.bitcoinuniversity.com/cou...
In this video, I discuss the various definitions of "intrinsic value" in finance to see what applies to Bitcoin.
I conclude that there is no such thing as "intrinsic value" in finance. Options can have intrinsic value if they are in the money, but commodities, stocks, etc. don't really have an intrinsic value.
They might have a cost of production or a market value or a utility value, but not an intrinsic value that can be easily defined or agreed upon by everyone.
Bitcoin may not have intrinsic value, but the market clearly finds it valuable and has done so for many years now. People who think that they know better than the global market and that Bitcoin is worth zero are suffering from intellectual myopia and probably haven't done their research.
Bitcoin is an extremely robust global monetary network, as well as a digital commodity without a corporate or government issuer.
Bitcoin has verifiable scarcity that is enforced by various equilibria conditions that harness human greed for human good.
Bitcoin is the only bearer asset in the world that can be instantly zapped anywhere in the world.
Bitcoin allows human beings to send value to each other digitally and store that value without needing permission or help from a government or bank or other corporation.
If that's not intrinsic value, it is certainly utility value.
If you don't think that Bitcoin has utility--
It is probably because you live in a country with a strong rule of law, strong property rights, a relatively stable banking system, etc. and you're suffering from the worst kind of first-world privilege and myopia.
Even very civilized places are usually only a few steps away from fiat breakdown and total societal collapse, as we've seen with Lebanon and Turkey recently.
Bitcoin offers hope to the world.
Not investment advice! Consult a financial advisor.
Answering Common Bitcoin FUD:
• Answering Common Bitco...
How much it costs to print dollars:
www.investopedia.com/news/fed...
Using rare comic books as a store of value:
www.lovetoknow.com/home/antiq...
Using beanie babies as a store of value:
parade.com/1172319/stephanieo...
Using fine art as a store of value:
en.wikipedia.org/wiki/When_Wi...
The Fed has destroyed the US dollar's purchasing power:
www.visualcapitalist.com/wp-c...
Lebanon demonstrates why the world needs Bitcoin:
www.aljazeera.com/news/2022/1...
www.ft.com/content/f37617e1-0...
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#IntrinsicValue
Disclaimer
Neither Bitcoin University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video, on this KZfaq channel, or at www.Trader.University or www.BitcoinUniversity.com (henceforth, “the Sites”) should be construed as such by you. This video, channel, and the Sites should be used as educational tools only and are not replacements for professional investment advice. Trading or investing in new and volatile assets like Bitcoin can be risky.

Пікірлер: 372

@Bitcoin_University 10 ай бұрын

WARNING: There are a number of scammers who are using my image and channel name to try to connect with my viewers on WhatsApp and other platforms to scam them. Just so you know, I will never refer you to "my personal trader" or try to connect with you personally to sell you something. I am trying to ban these scammers as quickly as they pop up. You can always recognize a scammer by clicking on the image and seeing how many videos he has. All of these guys have zero videos, while I have hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Bitcoin University from the imposters. Follow me on Twitter @mattkratter

@tomb8269 10 ай бұрын

@Johntron08 10 ай бұрын

The intrinsic value of this channel is off the charts

@Bitcoin_University 10 ай бұрын

Thank you

@samuelnolan1579 10 ай бұрын

So true!! ❤

@maraim.k 10 ай бұрын

You said it all!

@garyfisherman99 10 ай бұрын

Intrinsically priceless

@theantil7 10 ай бұрын

Daily ATH amazing

@reneluchinger1210 10 ай бұрын

What a beautiful phrase: People who tell you that Bitcoin has no value are suffering from extreme intellectual arrogance which is functionally equivalent to extreme ignorance. Made my day! So eloquent!

@nwenvyy768 10 ай бұрын

you've helped me expand my understanding of bitcoin more than anyone else. Thank you so much for your videos Matthew

@Bitcoin_University 10 ай бұрын

That makes me very happy to hear

@MBarberfan4life 10 ай бұрын

"Bitcoin doesn't have intrinsic value!"~Peter Schiff "I'm an Austrian economist: Austrians don't believe in intrinsic value."~Peter Schiff

@Bitcoin_University 10 ай бұрын

Poor poor Peter

@toejoe9105 10 ай бұрын

@@Bitcoin_University😂😂😂

@tg-gx8jc 10 ай бұрын

Schiff for brains. What a clown.

@sosic172 10 ай бұрын

This channel is pure bitcoin. I've been watching for a few years now and still react with glee when I see a new video pop up.

@skipondowntheroad5833 10 ай бұрын

I like that phrase: "pure Bitcoin". It replaces pure gold.

@maraim.k 10 ай бұрын

I am in crypto since 2017... I never found a Bitcoin Channel as good as Bitcoin University! 🤩 I am trully amazed by the quality of every single video!

@Bitcoin_University 10 ай бұрын

Thanks! What topic or question do you think I should cover next?

@mattcordes9276 10 ай бұрын

Sage wisdom and superior intellectual rationalization, as always thank you Matt.

@bujin5455 10 ай бұрын

The only thing that has "intrinsic" value is the mind. All other value is imputed by the mind on to the object of its desire. Some motivations are commonly held across more minds than others, derived by some set of applications that have general appeal. All of this amounts to "utility" value, which is the value something has due to it's suitability to a purpose, which people mistake as "intrinsic." Of course, such suitability is always subject to change, as either application desires change, or better suiters are found for said application. When people talk about "intrinsic value" it's really just a hand waving argument for a lazy intellect that hasn't taken the time to really understand the subject.

@derikuk2967 10 ай бұрын

All hail to *intrinsic desire,* the fount of all valuation.

@ALifeWellSteved 10 ай бұрын

Idk the stomach does a pretty good job of sending value signals for food and water. The mind might disagree but in the end the engine of the body economy ie the stomach will end operations and the whole system shuts down.

@skipondowntheroad5833 10 ай бұрын

If I don't value YOUR mind, then how does it have intrinsic value let alone subjective value?

@sTRoUsto 3 ай бұрын

That rat poison line was pure poetry

@simbiotik8480 10 ай бұрын

I have watched at least a couple of hundred of your videos. This is just about the best one. Keep it up.

@Bound2glory 10 ай бұрын

Thank you Matthew! I will be sharing this stellar analysis with many friends and family ❤

@KeepCalmAndHODL 10 ай бұрын

Love your vids! Thanks for keeping us aware of what’s going on in the Bitcoin space 😁🤙🏼

@brentcrandall3916 10 ай бұрын

Absolutely brilliant Matthew! Thank you.

@fernandozahonero8157 10 ай бұрын

Another fantastic video. Amazing work. Thanks

@ckellyme3 10 ай бұрын

Incredible video. This is now one of my favorites. Thank you Matt!

@Atlas_21 10 ай бұрын

I save the best ones and download, you never know what can happen. These videos have to be saved for the ages.

@MrGold-lo6vc 10 ай бұрын

I am SO GLAD you covered this. I've been in this argument before, and my view is similar to yours. I saw it as a philosophical question, and concluded that there is no such thing as intrinsic value. It simply doesn't exist. In my view, the only kind of value that exists is utility value. Value is derived from an object's usefulness. This is true for all cases and defines value itself.

@ralfbo685 10 ай бұрын

This is good timing. I feel like Ive been hearing about intrinsic value FUD more recently.

@visceral1 10 ай бұрын

I just had this intrinsic vs market value argument with my goldbug father in-law yesterday. I was pointing out that golds intrinsic value doesn't reflect the market price of gold. Nearly all of golds value is based on its store of value properties, not its use in electronics, etc. People either spend energy or currency to acquire bitcoin and gold and use them like a battery that will retain their purchasing power over time. The conversation should really be focused on which battery is more secure, portable, resistant to confiscation, etc. and Bitcoin is the obvious winner.

@skipondowntheroad5833 10 ай бұрын

The use of the word "intrinsic" when describing the value of something is dubious. For all the people who don't use gold as a store of value, in jewelry, in electronics, or dentistry, gold has neither intrinsic value nor even subjective value. For others who use gold, it does have subjective value.

@martindarmanie6854 9 ай бұрын

Well put 👍🏼

@berniebilicki7832 10 ай бұрын

Thanks, Matt....a brilliant summary of BTC's value....this will be a good video to return to and study, for me and others.

@UKBitcoinMaster 10 ай бұрын

Rockin it yet again Matt!!

@cpeterbond 10 ай бұрын

Excellent video - too many good points...I'm having to watch it twice to make sure I didnt miss anything.

@digital_gravity 10 ай бұрын

Another great video. One to bookmark and share.

@yentasbagels 10 ай бұрын

Yep best one yet, you're unbelievable Matt!

@Atlas_21 10 ай бұрын

This is going to be a great debunk the FUD series! Keep 'em coming Matthew!

@Jimmybob21 10 ай бұрын

Thank you bitcoin means so much to me but always struggle to articulate this to ppl need this video in my arsenal! Great work 🧡⚡️💯

@LClarke 10 ай бұрын

Brilliant, as always.

@cam6993 10 ай бұрын

Thank you for your work. Brilliant

@EricSmyth4Christ 10 ай бұрын

Ironically, gold bugs will often say something like “even if it has no value to you, you can give it to someone who will value it”, but then they won’t apply that logic to Bitcoin

@skipondowntheroad5833 10 ай бұрын

Your are right. Individuals might not value Bitcoin, but the market as a whole is currently subjectively valuing Bitcoin at over $31K. Goldbugs have been butthurt ever since Bitcoin reached around $2000 (parity with an ounce of gold) and then far surpassed it.

@EricSmyth4Christ 10 ай бұрын

@@skipondowntheroad5833 wait till Bitcoin surpasses 10 trillion market cap

@ditocacotini 10 ай бұрын

Jajajajaj, great video, as always Matt!!

@cordellscott 10 ай бұрын

Always great messages

@scottcriswell6154 10 ай бұрын

Great video, and addressing this topic was needed. Every time I bring up bitcoin to others who may be smart people, but never really considered getting into it, the first question is always "but how does it have any value?"

@borislavvuchkov7829 10 ай бұрын

Great style as always...

@Atlas_21 10 ай бұрын

Man this video is for the ages. Another one for in my favorite list!

@aronpett 10 ай бұрын

Bravo! Homerun! I love the satire 😅💸👍🏿 Thanks for another enlightening video.

@pasqualemarioni5894 10 ай бұрын

Thank you Matthew, just such a truthful way to describe the overall fiat environment compared to the BTC one that will surely come to pass

@amc5818 10 ай бұрын

Brilliant video as always. I look forward to seeing your intelligence on Bitcoin everyday, thank you.

@theskintones 10 ай бұрын

Brilliant Matt, this one is really great. Love your clear explanations of intrinsic value. Also the final punchline is great: " Bitcoin is rat poison, and we know who the rats are". Awesome

@Profanity42069 5 ай бұрын

The video is straight fire!

@Whatisfreedom2025 10 ай бұрын

Clifford Stoll, predicts that the internet will die after 1996. At the time, Stoll was living in Silicon Valley as a technology author and columnist for Newsweek. In his article, Stoll claimed that the internet will never work because “hardware and software will all top out in the mid-90s and, thus, the Internet will never ever get any more user friendly or portable. Also, it is different and scary.”

@monikab.6540 10 ай бұрын

Love your comeback to WB's "rat poison" remark.

@martinmalicus3987 2 ай бұрын

The value of a conventional currency is the trust in the state behind it. That state owns property, contracts, generates income etc. What is the value of a crypto currency? None of the holders has any obligations. There are thousands of different types from Bitcoin to Vertcoin. Bitcoin fluctuates far too much to create periodical contracts with services or goods. Seems the only thing driving the price is the popularity. To me Bitcoin is a fashion, no more and no less.

@Bitcoin_University 2 ай бұрын

There's only one leader in this category, and the market is valuing it above $1 trillion market cap. Conventional currencies lose purchasing power over time and can be frozen or censored by banks or governments. Bitcoin does not suffer from these flaws

@billpickford1988 10 ай бұрын

Just shared your video with six of my friends

@psychedwellness77 10 ай бұрын

Excellent as always! 2 questions: would you use your existing 401k funds to invest in the Blackrock Bitcoin ETF? And 2nd, what threat does AI pose to BTC? Love the content man, keep it coming!

@tg-gx8jc 10 ай бұрын

Love you, man.

@moneycrab 10 ай бұрын

Intrinsic value is social. Only final goods and food have private intrinsic value

@parata77 10 ай бұрын

Great video as always! How did you determine that 90% of golds value is attributed to monetary premium?

@Silver_Something 10 ай бұрын

Excellent 👌

@wrexxy49 10 ай бұрын

I like the use of the term 'zapped' in the video.

@makovapi 10 ай бұрын

Hi Matthew, recently I picked up the sovereign individual book on your recommendation and so far Im amazed. You said that you read it around the time it came out, what were your thoughts on it then? And have they shifted since?

@johnnymidas5879 10 ай бұрын

GOOD MORNING 🌄 MATHEW

@LeviWritesBooks 10 ай бұрын

Acerbic and incisive as usual Matthew. Well done.

@dean_murray 10 ай бұрын

Your reframing of the Buffet quote is so perfect 😂

@davidhidvegi4417 10 ай бұрын

😂 thank you Matt, a hilarious episode again! Excellent 👌🏻 i like your sarcasm

@datgoy5509 10 ай бұрын

Value is in the eye of the beholder. If you want something that conducts electricity you might value gold, but depending on price and use case you might get more value from copper. If you want to send a billion dollars across the world or to the future you would want to limit counter pary risk and transaction costs. I don't think anything is as beautiful as bitcoin when it comes to this. No tool is as good at limiting transaction cost, removing counter party risk, evading taxes and inflation.

@manfredvandoorn8011 10 ай бұрын

I love it when Matt is speaking in tongues…

@willtomorrow4654 10 ай бұрын

You are one intelligent fella.

@fusion9619 10 ай бұрын

Bitcoin taught me this: Intrinsic value can't be quantified. Human beings have intrinsic value. Market value points to intrinsic value, but is fundamentally different - market value can be found via rank order preference ; Intrinsic value can't. The (or one of the) difference between people of faith and people of despair is how they see value : the despairing see only the material ; the faithful see the material plus the value behind the material. It doesn't matter which kind of "faithful" in this (it matters in other ways, though) - the Spirit or the Tao or whatever it is, is visible to all, if they can see value. Bitcoin is measurable - by making the material measurable over any timeframe, and denominating market value in terms of energy, it becomes easier to focus on and differentiate from the intrinsic value of everything around us. Praise God and thank God for all His blessings and grace, among which is Bitcoin.

@jerryware1970 10 ай бұрын

It can be quantified through network theory.

@skipondowntheroad5833 10 ай бұрын

Nothing has intrinsic value. All value is subjective.

@fusion9619 10 ай бұрын

@@skipondowntheroad5833 an infant that is not related to you is in danger - do you let him/her die because it has no subjective value to you? You could go even further - an animal is helpless and in danger and you can save it - do you ignore it? Intrinsic value is demonstrably real. But you won't be able to compute that if you only see value as subjective.

@balbaluna600 10 ай бұрын

I love the rat poison analogy comeback. We know who the rates are!

@smallvillerulz1 10 ай бұрын

Hi can you review the tapsigner card . would it be a good option either solo or as part of a multisig arrangement

@davoidofaith 10 ай бұрын

I really liked the rat poison analogy, very good 👍

@mavadd88 10 ай бұрын

This one hit hard

@summerbreeze5115 10 ай бұрын

Your thumbnails are very addictive❤😊

@ralfbo685 10 ай бұрын

Yeah I'd like to know the science as to why. So simple, yet so clickable.

@summerbreeze5115 10 ай бұрын

@@ralfbo685 EXACTLY 🥲

@phyllis2866 3 ай бұрын

TRUE - buffett, munger, and berkshire hathaway missed out A LOT of gains from big tech. sad.

@faxian12 10 ай бұрын

Love the channel, one note about Buffet’s intrinsic value: he would say big tech was outside his circle of competence and would not have any idea of its intrinsic value which is fair. His ability to make a decision on Coca Cola’s future cash flows 40+ years ago has proved pretty correct. In that sense the company’s intrinsic value back then, to him, represented those cash flows discounted to present value. Bitcoin doesn’t have intrinsic value by that definition but neither does the http protocol. It will still revolutionize the world.

@nowhereman7413 10 ай бұрын

Yes, but you do not pay 30.000 dollar for using the http protocol. You can use it for free.

@faxian12 10 ай бұрын

@@nowhereman7413 you deposit as much as you want in the bank of bitcoin. You pay transaction fees. The incentive structure is monetary vs http where the incentive structure is based on information

@gasohwjchen 10 ай бұрын

The intrinsic value of Bitcoin is FREEDOM 🙌🏻😺

@kerbyanderson6055 10 ай бұрын

Great video and a good reason to post similar ones. I might recommend to the dean and only professor of Bitcoin University to pull some of the great material and graphs from "The Bitcoin Handbook" by Anil Patel. Some of his material has been covered in the past in Trader University (Gresham's Law, Cantillion Effect, etc.) but there is so much more material that could be used in the curriculum of Bitcoin University.

@Paul-jp8zz 10 ай бұрын

One might even say that the concept of intrinsic value itself is a fallacy. Value only arises when a consensus is formed between 2 or more people. Without people forming a consensus, the "thing" has no value, because "intrinsic value" doesn't exist at all. (edit: I typed this halfway through your video 🙂

@skipondowntheroad5833 10 ай бұрын

I agree that intrinsic value is not even a thing but why do you need 2 or more people for something to have value? I for one want to continue living so I subjectively value food. I don't need a second person to even exist let alone achieve a consensus with that person, for me to value food.

@Paul-jp8zz 10 ай бұрын

@@skipondowntheroad5833 I don't disagree, one person can "value something" to meet their own needs. But in terms of "economic value" - a trade must be made, and that requires 2 or more people.

@lawrenceforbes5172 10 ай бұрын

Exxxxxcellent...

@rammuh1029 10 ай бұрын

And one more definition for intrinsic value can be the Energy (Oil, Grain) which can be extractred

@skipondowntheroad5833 10 ай бұрын

Grain has no value much less "intrinsic" value for someone who doesn't consume grains.

@rammuh1029 10 ай бұрын

@@skipondowntheroad5833 exactly, for a bird grain has intrinsic value - but not crude oil… for you oil has and grain has not. For me grain and oil has intrinsic value… all this is very subjective… It’s theory that the energy in food, the energy in oil, or the Kilo Joules of energy while burning your hyperinflated paper bill in a oven to warm you up in the winter, is the actuell intrinsic value :))

@KadeSound 10 ай бұрын

Hey Matt, what are your thoughts on the LNP/BP Association and their proposed way to upgrade the Bitcoin base layer without a required softfork? Seems pretty useful for privacy... unless I'm misreading and it reeks of shipcoin odor.

@Trephining 10 ай бұрын

Value is subjective. ALL value is subjective.

@InAVanByTheRivr 10 ай бұрын

Love it like it, comment on it

@matthewbrock9073 10 ай бұрын

Can you do an update on bitcoin loans? I would like to maybe utilize that in the future for an emergency liquidity purpose.

@StanSensei 10 ай бұрын

Please do "Is Bitcoin gambling" too.

@thepr0m3th3an 10 ай бұрын

fire

@gavincarr6453 10 ай бұрын

thoughts on remitly?

@dominikskorjanc 10 ай бұрын

So I know you answered my question from few days ago that was somewhat related to this but I don't think I worded it quite as I wanted to. Couldn't the government install so many full Bitcoin nodes so that they decide future updates to Bitcoin, without creating a hard fork of it? For example, they could have not passed the Taproot upgrade. Or am I still misunderstanding it?

@vakeone 10 ай бұрын

More nodes don't matter if people don't use those nodes to receive bitcoin into their wallet.

@dominikskorjanc 10 ай бұрын

@@vakeone they could send small amount between each other, no? Why does receiving BTC matter?

@morteza1024 10 ай бұрын

I think gold's monetary premium shows in market cap not price. All gold minors will stop if gold goes down 90%. But the price could stay the same or go up yet the supply could get used up and market cap go down if gold demonetizes. What do you think? Basically the stock to flow would go down while price may not fall.

@stevenanthony5047 10 ай бұрын

That warren buffet quote at the end was GREAT! We know who the rats are 🔥

@mrnogood 10 ай бұрын

I'm waiting on your take on the xrp being ruled not a security, which means eth is no longer a "shipcoin". I was almost almost convinced to swap mine but said I would wait for the xrp decision. I'm so glad I did! In fact, I'm surprised that the crypto KZfaqrs of worth have been eerily silent. I thought I would wake up to a plethora of xrp videos. But they're mainly from small fries.

@Bitcoin_University 10 ай бұрын

kzfaq.info/get/bejne/e5dgd9mrlt2oqKc.html&ab_channel=BitcoinUniversity

@willfrerichs 10 ай бұрын

The SEC cannot rule that a shipvoin is or isn’t a shipcoin. The Bitcoin epoch has, in the final analysis, made the SEC defunct. Gensler may as well also go about declaring what the weather will be tomorrow. Every fiat entity that touches Bitcoin will ultimately collapse. A Bitcoin etf is the beginning of the end for Blackrock. “Breathe, breathe in the air. Don’t be afraid to care.”

@mrnogood 10 ай бұрын

@@willfrerichs nobody here said that the SEC decides anything.

@doomshallot4203 4 ай бұрын

Wouldn't the intrinsic value of stocks be that companies provide goods/services? Granted the valuation of the stock can be much higher than the underlying intrinsic value, but it's very prevalent nonetheless because stocks have businesses behind them that are having direct impacts on everyone's lives, and expanding with the economy. Same goes for real estate. Homes or commercial buildings have direct impacts on everyone's lives because they're providing space to live in or conduct business in, expanding with the economy. Same goes for bonds. It's legal obligations to provide a % of income based on the principle. And notice none of these necessarily have to do with the USD. The USD is just the means in which they're conducted, because the government backs it.

@toejoe9105 10 ай бұрын

Matthew, I hope you realize that you just ruined Peter Schiff's morning with today's video lesson. 🤣🤣🤣

@tomredeye312 10 ай бұрын

If bitcoin has no value then please send me some. If being in control of your own monetary policy has no value then why do central banks run the world? Nobody should risk being short bitcoin. Max props MK!

@jasonbuksh2958 10 ай бұрын

A more objective way of valuing bc would be to work out the value of what has been built if a private company owned it and divide by number of coins

@user-DongJ 10 ай бұрын

Nice blog! Arguing that cryptos like Bitcoin has not intrinsic values because it is made up of zeros & ones is like arguing that hominids like humans have not intrinsic value because they are made up of atoms. 😄

@gdavis6913 10 ай бұрын

I think the difference between market value and intrinsic value is that the former is of course dictated by the market whereas the latter implies an inherent degree of productivity: a piece of art v. a piece of land. The art is worth what someone is willing to pay for it, (the land can be also), but the land is capable of producing say a crop of food regardless of counterparty valuation. Hence “intrinsic” value. BTC like gold and the dollar has no “intrinsic” value but it has utilitarian value like the others only more so.

@skipondowntheroad5833 10 ай бұрын

Things can have intrinsic properties but not intrinsic value. All value is subjective. What exactly is the point of trying to further classify all the subjectively valued things into sub-categories such as utility value, market value functional value, monetary value, social value, psychological value etc? All value is subjective.

@cramsa 10 ай бұрын

People like Peter Shiff now shilling “gold backed crypto.” He still doesn’t understand the problem is TRUST.

@davidthompson8364 10 ай бұрын

Thank you, Matthew. I'm an avid fan of your work. Can you perhaps do a video explaining exactly how the US war machine brings value to the dollar? - 'US dollar derives much of its current value from the USA war machine ("proof of war rather than "proof of work"). Many thanks.

@skipondowntheroad5833 10 ай бұрын

Softwar: Bitcoin as Non-Lethal Warfare with Jason Lowery on KZfaq.

@davidthompson8364 10 ай бұрын

@@skipondowntheroad5833 Many thanks

@richardlloydatron 10 ай бұрын

Hi uni 👋👋

@Thomas-wz2nu 10 ай бұрын

Ridiculous to suggest that only “gold bugs” challenge Bitcoin’s intrinsic value.

@dcnchrislincoln-ur7iu 10 ай бұрын

The intrinsic value of BTC is world-wide financial freedom for those who participate in it…which of course is priceless❤

@shakenbake6303 10 ай бұрын

❤

@heygoober1653 10 ай бұрын

Any questions?

@willfrerichs 10 ай бұрын

Intrinsic value is what imparts value in a commodity. Scarcity is what imparts value in a transactional/monetary unit. The existence of monetary instruments to the tune of 25% of all above ground wealth can facilitate specialization in society. Read “The Bitcoin Standard”

@301gym 10 ай бұрын

I m not a bitcoin maxi but those vids are quite interesting nevertheless

@lukew4354 10 ай бұрын

👍👍

@retro8919 10 ай бұрын

That painting was over 200m? Wow

@ExpensivePizza 10 ай бұрын

The strict definition of "intrinsic" means belonging naturally; essential. But nothing actually has value without a humans (or animals) assigning value to it. Humans assign value to things based on how they feel about them or how well they solve a particular problem. Without humans, gold is just a shiny rock, water is just a clear liquid and money is just paper or data in a computer system. Using this lens, all value is subjective. You could say there is a marginal value (or cost). In other words, there's time, effort and energy that goes into extracting value from something. Gold must be dug out of the ground, steel must be refined, paper must be printed. But these are things we do *after* we've decided something has value, not before. The marginal cost contributes to how we set the price, but it's not where the value comes from. The market always decides the value and we try to reduce the cost to meet the demand.

@Mike-dd8bd 10 ай бұрын

There is no question that gold has more intrinsic value. In that if we remove every monetary connection to gold people would still buy gold for jewelry, art, manufacturing etc. If we remove every monetary connection to bitcoin it becomes numbers on a screen that are artificially limited with no use. BUT we humans have decided to give bitcoin value and it does/can serve a use case in today`s world. But its important everyone understand we give it value. Anyone with the means can create a limited blockchain crypto currency that looks and feels like bitcoin.

@paullamb1100 10 ай бұрын

Bitcoin's utility is only in the context of monetary connections (ignoring the whole ordinals debate), so of course if one were to remove those then it would no longer have value. That's like saying if you remove the H2O from water you have nothing, so obviously pond sludge is more valuable than pure water. Give someone thirsty an option, though, and they are going to choose the pure water.