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57475494 No.57475494 [Reply] [Original]

>> No.57475516

>>57475494
btc's only intrinsic value is the ability to transfer it
it is broadcasting a transaction
that is it

the price is high because memes
wait long enough and you will see btc at 0

>> No.57475526
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57475526

>>57475516
> Wait long enough and you will see btc at 0
> long enough

>> No.57475532

>>57475516
damn

fpbp. but this is true, bitcoins utility was for transfers, but people use it for speculating which ruins its utility in the long run. but thats true with all fiat or money backed by nothing.

and no, its not backed by work or energy because you cant get energy or work back out of the bitcoin

>> No.57475549

>>57475532
correct you can't extract the energy, encryption is one way
and the transfer ability will be diluted by other chain
the market has already found the scaling solution
it is more chains

>> No.57475560

Whats gold backed by? By the work needed to mine it? (Same here), Intrinsic value as a "currency" aka exchangeable for goods (Same here), As an asset that can't be seized or controlled easily? (Same here)

>> No.57475568

>>57475560
gold has properties that are exploitable

>> No.57475599

>>57475560
it is unreactive, the only reason we dont coat everything in gold is because its too expensive to do that.
>jewelry, electronics, bullion, etc.
not used as a money-transfer as much anymore but its primary function is still being money i guess

>> No.57475602

>>57475568
Bitcoins properties can be exploited too, just not physical

>> No.57475637

>>57475602
which property? it is basically entropy

>> No.57475641

>>57475602
the properties are not unique, you want your expenses to be low, so you will avoid btc, there is no reason to participate

>> No.57476965
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57476965

>>57475516
>intrinsic value
midwit moment

>> No.57477105

I can trade a bitcoin for the equivalent value of a luxury car. How is that less intrinsic than any other asset that requires other people? USD, stocks, gold, all worthless outside of how other people regonize them as money or legal title to equity, w/e.