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I think you guys are misunderstanding the term "intrinsic value". If a currency is intrinsically valuble, that means it is valuble as a commodity on its own, i.
by RugnirViking 5y ago
I think you guys are misunderstanding the term "intrinsic value". If a currency is intrinsically valuble, that means it is valuble as a commodity on its own, i.e it is worth something outside of it's use as an exchange token. Dollars have the same intrinsic value as a sheet of used high quality paper. Gold is "intrinsically valuble" because it is useful for many things, such as manufacturing computer hardware or jewellery.
Cryptocurrency is not intrinsically valuble in any sense aside from the value people place in it, which is not "intrinsic". In fact it is incidentally the same reason the dollar has any more value than its material cost. Also your argument that cryptocurrency is good because anyone can use it is strange, literally everyone is allowed to use the dollar, and pretty much everyone agrees that a dollar is worth a dollar, to the point that calling such a belief "faith" sounds ridiculous.