> gold has a much better case than cryptocurrencies at having a so-called intrinsic value. The point is that the intrinsic value doesn't come anywhere close to

> gold has a much better case than cryptocurrencies at having a so-called intrinsic value. The point is that the intrinsic value doesn't come anywhere close to explaining the price in either case. And what about cash? That also doesn't need intrinsic value to be worth something. > On the cryptocurrency side there are literally thousands of active offerings, and the barrier to entry to create one or a hundred more is negligible. I don't see why the scarcity of one cryptocoin affects the value of the others. Creating a new coin doesn't devalue existing coins.