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The intrinsic value of bitcoin (if this matters) is immutable storage. You see this utilized with projects such as counterparty. The non-intrinsic value of bitc
by brighton36 11y ago
The intrinsic value of bitcoin (if this matters) is immutable storage. You see this utilized with projects such as counterparty. The non-intrinsic value of bitcoin is the ability to engage in censored commerce. (backpage, wikileaks, silk road, etc.)
- Ologn 11y ago> The intrinsic value of bitcoin (if this matters) is immutable storage. You see this utilized with projects such as counterparty. I have heard people talk about the storage aspect of Bitcoin as having value before, and it's probably the best argument for Bitcoin having any inherent value whatsoever. You're making a more intelligent observation than most of the people in this thread. That said, Bitcoin has a $3.4 billion market cap. Litecoin has a $119 million market cap, and even the joke crypto-currency Dogecoin has a $12 million market cap - and they can be used as storage mediums as well. As a storage medium, Bitcoin would be way overpriced. It's price is due to the other points I mentioned, mainly the hype.