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I would argue Bitcoin has more intrinsic value than gold - it is easier to move, faster to move, more secure in its transit, harder to counterfit, and impossibl
by pixie_ 13y ago
I would argue Bitcoin has more intrinsic value than gold - it is easier to move, faster to move, more secure in its transit, harder to counterfit, and impossible to create more (than is already planned.)
It's intrinsic value comes from these very properties - similar to how gold's intrinsic value is that it's shiny, has been around for 2000 years, makes great jewelry, and some other things as well.
In this century though if you're looking for a digital, better kind of gold then Bitcoin is it - hands down.
- Ologn 13y agoCow's milk is a commodity. It does not make a good currency. It must be kept refrigerated, and even with this becomes useless in a short amount of time. Nonetheless, it is a commodity and is useful. Gold is a commodity. It makes a good currency - compared to many commodities it is easy and fast to move, can be moved securely, is hard to counterfeit and has a limited supply. It was used millennia ago to make goblets and the like, and has industrial uses today. Bitcoin is not a commodity. It has no underlying use. So it is not a currency either. Because currencies are based on commodities. I have written about government fiat money in other posts in this thread so I won't go into that tangent in this reply.
- pixie_ 13y agoYou went from the 'bitcoin has no intrinsic value fallacy' right to the 'bitcoin is not a currency fallacy' - seriously read the Bitcoin FAQ or something. All your points have been discussed to death for the last 4 years. You think after 4 years, hundreds of startups, and millions of dollars invested in Bitcoin that you are the only one who 'realizes' Bitcoin is a scam? Wake up, bitcoin is legit now. It's been vetted by larger forces than your 'blog.'