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> Cryptocurrency was and is mainly an object of speculation, not of intrinsic economic value. i say this is not correct. What is "intrinsic" value? I argue th
by chii 2y ago
> Cryptocurrency was and is mainly an object of speculation, not of intrinsic economic value.
i say this is not correct.
What is "intrinsic" value? I argue that if people want it, then it has intrinsic value.
- FerretFred 2y agoThat intrinsic value recently enabled me to spend some Bitcoin on a new tablet device. Works for me!
- abenga 2y agoThis just means you passed something intrinsically worthless on to another person in exchange for a useful good. There is a name for this in economic theory, but it's a bit of an insult.
- chii 2y ago> There is a name for this in economic theory, but it's a bit of an insult. calling it money is no insult.
- latexr 2y ago> I argue that if people want it, then it has intrinsic value. In other words, what you’re arguing is “if it has extrinsic value, then it has intrinsic value”. Which would break the point of the distinction. Intrinsic value is the exact opposite of what you’re saying, it’s something having value by itself.