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Scarcity is absolutely an intrinsic value. Gold has value because it is relatively scarce given the difficulty to mine. In addition to being really shiny which
by trixie_ 8y ago
Scarcity is absolutely an intrinsic value. Gold has value because it is relatively scarce given the difficulty to mine. In addition to being really shiny which was valued by our ancestors. There are lots of useful rare elements used in manufacturing. In terms of a currency though gold has nothing on bitcoin. Gold is hard to move, hard to validate as authentic, heavy, easy to steal, etc..
- notahacker 8y agoMy excrement is several orders of magnitude more scarce than Bitcoins and gold bars alike, but it has no value because nobody wants it. Scarcity relative to demand pushes up market prices (i.e. extrinsic value) but that's something entirely different...
- hndamien 8y agoMaybe you can work on drumming up demand for your excrement. Fecal transplants are a thing now.
- bdcravens 8y ago> Scarcity is absolutely an intrinsic value Then what is the number? No, scarcity is an important attribute that contributes to perceived value, but it's not intrinsic. Otherwise any cryptocurrency that is scarce would have intrinsic value, as opposed to the many that are essentially 0.