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I realize it's sort of a funny thing to say, but I would argue that a bitcoin has more intrinsic value than a beanie baby. It's ease of transfer is a huge util
by dasil003 13y ago
I realize it's sort of a funny thing to say, but I would argue that a bitcoin has more intrinsic value than a beanie baby. It's ease of transfer is a huge utility.
- vannevar 13y agoI would argue that a bitcoin has more intrinsic value than a beanie baby. I would argue that it has less; kids have always loved stuffed animals, whereas no one found intrinsic value in a cryptographic hash until someone thought to brand and promote one. A Bitcoin's value comes from the Bitcoin system, which does have some utility as a sort of distributed ledger. The problem is there are already plenty of e-cash systems already in place, virtually all of which are easier to use than Bitcoin. As a currency, Bitcoin's volatility is a major disadvantage. No one will spend a Bitcoin if they think it will be worth more tomorrow. No one will take a Bitcoin if they think it will be worth less. Success as a speculative investment is generally antithetical to success as a currency.