> Gold as a metal has an inherent value though. The price of gold isn't really related to it's use in electronics however. > The value associated with bitcoin

> Gold as a metal has an inherent value though. The price of gold isn't really related to it's use in electronics however. > The value associated with bitcoin seems purely sentimental. Scarcity is a factor. Admittedly not all things that are scarce are valuable but it's a necessary precondition. There are other examples of items that lack inherent utility but have value and they too are often used to store wealth: art, antiques etc. spring to mind. If everyone decided tomorrow that Ming Vases were rubbish they would cease to be valuable. That's surely as "sentimental" as Bitcoin - value based on scarcity and consensus.