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You didn't answer my question. Things have a value because people value them. Nothing has an "intrinsic" value, not bitcoins, not gold, not dollars, not food. I
by Udik 7y ago
You didn't answer my question. Things have a value because people value them. Nothing has an "intrinsic" value, not bitcoins, not gold, not dollars, not food. I am not a bitcoin fanboy, but I find strange that many seem unable to grasp the fact that most of the value of anything lies in the willingness of other people to give us something in exchange for it, not in the good itself.
- pmiller2 7y agoThings do have intrinsic value based on their utility. Would you say food has value because it keeps you alive, or does your life also have no value? Could it be that you’re willing to trade USD for a quantity of food because the food is more useful?
- Udik 7y ago> Would you say food has value because it keeps you alive Sure. So I suppose you invest in groceries: I mean, everybody needs food, right? Sure money. https://www.youtube.com/watch?v=_pDTiFkXgEE https://www.youtube.com/watch?v=_pDTiFkXgEE So, can I sell you those 10 bitcoins?
- pmiller2 7y agoI never said food was an investment. I said it has value. Big difference. As for buying BTC, you’re clearly not paying attention to my comments here. ;) The only reason I would want 10 BTC is to immediately sell them to some sucker for more than I paid for them. So, yes, I would buy 10 BTC from you at a very steep discount, but not at the market price.