Re:Cambridge Bitcoin Electricity Consumption Index
by InitialLastName on Wednesday February 10, 2021 @10:09AM
(#26090134)
> the real intrinsic value of Bitcoin
Intrinsic: belonging to the essential nature or constitution of a thing [0].
Bitcoin, being a series of bits proving you or one of your financial forebears burnt some spare energy without any material return, has no intrinsic value. Its value is entirely extrinsic and intersubjective, in that it only has value if a quorum believes it has value.
Intrinsic: belonging to the essential nature or constitution of a thing [0].
Bitcoin, being a series of bits proving you or one of your financial forebears burnt some spare energy without any material return, has no intrinsic value. Its value is entirely extrinsic and intersubjective, in that it only has value if a quorum believes it has value.
[0] https://www.merriam-webster.com/dictionary/intrinsic