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A comment on More than $70B wiped off crypto market in 24 hours as BTC drops 8% below $20K. Parent comment

Re:More than $70B wiped off crypto market in 24 hours as BTC... by senttoschool on Friday March 10, 2023 @07:24AM (#35093512)
This is called having "intrinsic value".

In the event that all Apple shareholders want to sell, there will still be a market for it because Apple produces goods and will do share buy backs and give dividends. There will be a discount like you said, but the intrinsic value is there.

There is no intrinsic value in bitcoin or 99% of crypto.

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Re:More than $70B wiped off crypto market in 24 hours as BTC... by Lapsa on Friday March 10, 2023 @07:49AM (#35093711)
Crypto has intrinsic value. It provides named globally immutable lists. As they can be named anything you like and may or may not enforce additional whatnot rules - it leads to a lot of confusion (gr8 4 crooks).
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Re:More than $70B wiped off crypto market in 24 hours as BTC... by frankreyes on Friday March 10, 2023 @08:06AM (#35093866)
> This is called having "intrinsic value".

It should be clear by now that the intrinsic value of Bitcoin is the USD.

Because the only practical problem it solves is to bridge USD to USD transactions as USD-BTC-USD.

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