3 ms·
I think intrinsic means in this context "valuable for something other than bartering with". Gold has intrinsic value in electronics. It is used for electrical
by MarkSweep 9y ago
I think intrinsic means in this context "valuable for something other than bartering with".
Gold has intrinsic value in electronics. It is used for electrical connectors due to its corrosion resistance and conductivity. Tiny golden wires are used in packaging integrated circuits (connecting the ICs to the pins of the chip).
Bitcoins have no such intrinsic value. They can only be bartered for something else.
Even fiat has intrinsic value: you can burn bills for warm.
- hellabites 9y agoGold had intrinsic value before electronics, but for basically the same reason: it's immutable. The bitcoin blockchain is also immutable.
- bobwaycott 9y agoYou are describing use values that are found in the intrinsic physical properties of gold by human agents. Their societies then assent to recognizing those use values. That value is not intrinsic to gold itself—it is not one of gold’s properties. Thinking “gold is valuable” is a shorthand for this recognition of use and exchange values on the basis of gold’s intrinsic physical properties. But the value found in those properties is not a property of gold itself.
- ThomPete 9y agoGold has utility in electronics. It has nothing to do with it's value. Bitcoin have utility as a store of value.