Re:Is Filecoin a $257 million Ponzi scheme? [pdf]
by usrusr on Thursday November 30, 2017 @03:04PM
(#15819004)
BTC does have inherent value if there exists a class of transactions that cannot be settled in any other form of payment.
Extortion where the extortionist demands payment in bitcoin fulfills that predicate.
Not saying that this is what drives the daily ups and downs of BTC (or rather: ups and even more ups, recently), but if you are looking for inherent value, this is what you get. Just like the use of gold in manufacturing is very much not the driver of gold price fluctuations, despite being the base of the inherent value.
Extortion where the extortionist demands payment in bitcoin fulfills that predicate.
Not saying that this is what drives the daily ups and downs of BTC (or rather: ups and even more ups, recently), but if you are looking for inherent value, this is what you get. Just like the use of gold in manufacturing is very much not the driver of gold price fluctuations, despite being the base of the inherent value.