Re:Bitcoin surpasses $50K as major companies jump into crypto
by bhupy on Tuesday February 16, 2021 @07:18PM
(#26160816)
The counterpoint to that is that gold has an "intrinsic value"; it's a store of value because it happens to have some use outside of merely just being a store of value.
Of course, the counter-counter-point to that is that the Bitcoin network also has "intrinsic value", and it's that it enables trustless/permissionless transactions to people that might be engaging in illegal commerce or are trying to escape the currency of a regime with poor monetary policy (Venezuela, Bolivia, Nigeria, Zimbabwe, etc).
Of course, the counter-counter-point to that is that the Bitcoin network also has "intrinsic value", and it's that it enables trustless/permissionless transactions to people that might be engaging in illegal commerce or are trying to escape the currency of a regime with poor monetary policy (Venezuela, Bolivia, Nigeria, Zimbabwe, etc).