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Bitcoin's intrinsic value is the right/ability to write a new row into a global immutable append-only decentralised censorship-proof spreadsheet table. It is va
by dr_win 9y ago
Bitcoin's intrinsic value is the right/ability to write a new row into a global immutable append-only decentralised censorship-proof spreadsheet table. It is valuable not only in economic context to create a border-less cash-like virtual commodity. It could be used for proof of publication or proof of existence and in many other ways (smart contracts).
In other words, owning a non-dust amount of Satoshis gives you some useful property. Anything scarce and useful will have value and market will price it. Anything with price and good properties to become means of exchange, unit of account or store of value can under some circumstances become some form of money.
Output of /dev/random is not scarce.