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A comment on Buffett bashes Bitcoin as nonproductive, thriving on mystique. Parent comment

Re:Buffett bashes Bitcoin as nonproductive, thriving on myst... by drcode on Monday May 07, 2018 @12:44PM (#17014192)
If there's one thing I've learned in my 45 years, it's that actually no one has figured yet what the term "intrinsic value" really means. The more you dig into that term it just ends up meaning "what someone else is willing to pay for it" blended together with some fuzzy subjective notions of morality.
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Re:Buffett bashes Bitcoin as nonproductive, thriving on myst... by tim333 on Tuesday May 08, 2018 @06:21AM (#17019950)
Perhaps, though:

> In The Theory of Investment Value, written over 50 years ago, John Burr Williams set forth the equation for value, which we condense here: The value of any stock, bond or business today is determined by the cash inflows and outflows - discounted at an appropriate interest rate - that can be expected to occur during the remaining life of the asset.

- Buffett in http://www.berkshirehathaway.com/letters/1992.html

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Re:Buffett bashes Bitcoin as nonproductive, thriving on myst... by asdsa5325 on Monday May 07, 2018 @01:09PM (#17014417)
No. What someone else will pay for something is extrinsic value.
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Re:Buffett bashes Bitcoin as nonproductive, thriving on myst... by drcode on Monday May 07, 2018 @01:25PM (#17014578)
Exactly, now just add some subjective moralizing to it and now you'll reach parity with most people's notion of "intrinsic value".
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