Re:Bitcoin is not a Battery – it is a Sink
by Closi on Sunday March 28, 2021 @02:43PM
(#26612966)
Thanks, that's a really good post and agree with everything.
Maybe it's also useful to separate out the second bullet into:
- value based on potential future [extrinsic] utility
- value based on potential future [intrinsic] utility
There is a difference in buying stocks which have future cash flows that the value is theoretically based on (which are typically generating revenue/profit/dividends because of the business activity) to speculating on forex or bitcoin (where you are just speculating that someone will be willing to pay more than you bought it for in the future).
Maybe it's also useful to separate out the second bullet into:
- value based on potential future [extrinsic] utility
- value based on potential future [intrinsic] utility
There is a difference in buying stocks which have future cash flows that the value is theoretically based on (which are typically generating revenue/profit/dividends because of the business activity) to speculating on forex or bitcoin (where you are just speculating that someone will be willing to pay more than you bought it for in the future).