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Gold has inherently good conductivity, extreme malleability and pretty good chemical resistance. I would call those intrinsically valuable traits. Likewise a w
by randomswede 5y ago
Gold has inherently good conductivity, extreme malleability and pretty good chemical resistance. I would call those intrinsically valuable traits.
Likewise a whole slew of physical goods, who have built-in traits due to what they are that make them (on some level) valuable.
Bitcoin only has value due to a shared hallucination.
- feanaro 5y agoMost of the value of gold is not due to those properties. Yet even for those properties, if you look close enough, it is shared hallucinations all the way down. I think you'll also have a hard time explaining how "good conductivity" is fundamentally different from e.g. "resistance to tampering of historical records".
- randomswede 5y agoBitcoin is only resistant to tampering of historical records if you have a continuous expenditure of compute to maintain that tamper-proofness. In the absence of substantial compute resources dedicated to maintaining the longest fork, there is in principle nothing stopping anyone from changing a historic blok and rolling forwards from that. The good conductivity is a base physical property, not really requiring any external investment of anything to be maintained.