Goldman Sachs Report Explores Use of Bitcoin as Currency

Re:Goldman Sachs Report Explores Use of Bitcoin as Currency by MarkSweep on Monday January 15, 2018 @11:33PM (#16155850)

I think intrinsic means in this context "valuable for something other than bartering with".

Gold has intrinsic value in electronics. It is used for electrical connectors due to its corrosion resistance and conductivity. Tiny golden wires are used in packaging integrated circuits (connecting the ICs to the pins of the chip).

Bitcoins have no such intrinsic value. They can only be bartered for something else.

Even fiat has intrinsic value: you can burn bills for warm.

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Re:Goldman Sachs Report Explores Use of Bitcoin as Currency by bobwaycott on Tuesday January 16, 2018 @12:49AM (#16156122)

You are describing use values that are found in the intrinsic physical properties of gold by human agents. Their societies then assent to recognizing those use values. That value is not intrinsic to gold itself—it is not one of gold’s properties.

Thinking “gold is valuable” is a shorthand for this recognition of use and exchange values on the basis of gold’s intrinsic physical properties. But the value found in those properties is not a property of gold itself.

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Re:Goldman Sachs Report Explores Use of Bitcoin as Currency by hellabites on Tuesday January 16, 2018 @12:30AM (#16156046)

Gold had intrinsic value before electronics, but for basically the same reason: it's immutable.

The bitcoin blockchain is also immutable.

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Re:Goldman Sachs Report Explores Use of Bitcoin as Currency by ThomPete on Tuesday January 16, 2018 @05:57AM (#16157265)

Gold has utility in electronics. It has nothing to do with it's value.

Bitcoin have utility as a store of value.

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