3 ms·
Gold's practical value is a small fraction of it's going price. Bitcoin has some utility value in being a digital good that you can reliably exchange with some
by danpat 13y ago
Gold's practical value is a small fraction of it's going price.
Bitcoin has some utility value in being a digital good that you can reliably exchange with someone, essentially instantly, over the internet, with no middle-man, for a very low cost.
Sure, this might seem like a trivial value, but I think it's value nonetheless, and overpricing of something like that is not unprecedented.
- betterunix 13y agoIf Bitcoin's only utility is its ability to be transferred from one person to another, it is not a commodity.
- GaryRowe 13y agoBut it has built-in scarcity which means it possesses a characteristic of a commodity. Maybe a bitcoin is currmodity?