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Gold and diamonds have industrial uses and so some inherent value (even if a seller's cartel in both cases overinflates them). Fiat currencies are backed by big

Gold and diamonds have industrial uses and so some inherent value (even if a seller's cartel in both cases overinflates them). Fiat currencies are backed by big militaries, which, again, is an inherent value.

bdamm 9y ago
Bitcoin can be transferred from anywhere to anywhere, with almost no interference. That is its inherent value.
- foepys 9y ago
  Western Union can do this, too. Even into a lot of regions where nearly nobody has internet access. Depending on the state of the Bitcoin network, sometimes also cheaper than Bitcoin.
  - bdamm 9y ago
    As someone who has used Western Union and ended up in money-trail hell, I can tell you with complete confidence that Western Union and their ilk are huge pains in the butt and charge too much for their overly complex "service". Sure, you need to get money into bitcoin and then out in order to take advantage of that property, but the ability to do that is getting easier and cheaper all the time.
syntex 9y ago
You must be from the past, as blockchain creates value by lowering cost of operations. Bitcoin, Litecoin - money transfer IOTA - micro transactions without fee ( Internet of Things ) Ethereum - contracts Monero - private, non-traceable transactions the list is long. 99% percent of these projects will fail, but 1% will create added value to the world.
- billmalarky 9y ago
  Hey now don't sell Ethereum so short. IMO it's the real transformative platform for blockchains. It isn't just the features of Ethereum, which can be easily cloned, it's the massive and growing community around it already building exciting new products/services.
billmalarky 9y ago
Bitcoin already has proven valuable properties. The question now is whether or not the future flushed out value it brings is higher, or lower, than the current market price. There's a lot of unknowns which is why at this time it is a speculative investment. Make no mistake though, bitcoin is already valuable as a value store, especially for wealthy individuals who live in countries not quite as stable as the US. It also has a place as a convenient high risk investment at the high risk end of any investors portfolio who is looking to increase their risk adjusted return.
joshontheweb 9y ago
Bitcoins inherent value is utility. It facilitates things that were difficult or impossible before it existed. It allows you to transact online without middleman businesses. It allows quick, easy, and cheap international transactions. It allows you to not need a bank. It allows you to transact anonymously (if you do it right). Plus many more applications that have yet to be revealed.

bdamm 9y ago

Bitcoin can be transferred from anywhere to anywhere, with almost no interference. That is its inherent value.

foepys 9y ago
Western Union can do this, too. Even into a lot of regions where nearly nobody has internet access. Depending on the state of the Bitcoin network, sometimes also cheaper than Bitcoin.
- bdamm 9y ago
  As someone who has used Western Union and ended up in money-trail hell, I can tell you with complete confidence that Western Union and their ilk are huge pains in the butt and charge too much for their overly complex "service". Sure, you need to get money into bitcoin and then out in order to take advantage of that property, but the ability to do that is getting easier and cheaper all the time.

syntex 9y ago

You must be from the past, as blockchain creates value by lowering cost of operations. Bitcoin, Litecoin - money transfer IOTA - micro transactions without fee ( Internet of Things ) Ethereum - contracts Monero - private, non-traceable transactions the list is long. 99% percent of these projects will fail, but 1% will create added value to the world.

billmalarky 9y ago
Hey now don't sell Ethereum so short. IMO it's the real transformative platform for blockchains. It isn't just the features of Ethereum, which can be easily cloned, it's the massive and growing community around it already building exciting new products/services.

billmalarky 9y ago

Bitcoin already has proven valuable properties. The question now is whether or not the future flushed out value it brings is higher, or lower, than the current market price. There's a lot of unknowns which is why at this time it is a speculative investment. Make no mistake though, bitcoin is already valuable as a value store, especially for wealthy individuals who live in countries not quite as stable as the US. It also has a place as a convenient high risk investment at the high risk end of any investors portfolio who is looking to increase their risk adjusted return.

joshontheweb 9y ago

Bitcoins inherent value is utility. It facilitates things that were difficult or impossible before it existed. It allows you to transact online without middleman businesses. It allows quick, easy, and cheap international transactions. It allows you to not need a bank. It allows you to transact anonymously (if you do it right). Plus many more applications that have yet to be revealed.