4 ms·

I'm pretty sure the intrinsic value of gold is less than 10% of the market value. If the world suddenly stopped seeing gold as 'money' or a 'store of value' or

I'm pretty sure the intrinsic value of gold is less than 10% of the market value. If the world suddenly stopped seeing gold as 'money' or a 'store of value' or whatever it would lose 90% or more of its value. Bitcoin would lose 100%. The difference is not that big.

mburns 13y ago
Falling by 90% versus 100% is quite big. One is now 0. There other is still above 0.
ye 13y ago
I disagree, bitcoin will always be useful as the best mode of transferring money, regardless of its value. And that alone gives it value. There's a reason people pay something like 5-8% to Western Union. It's a valuable service. Well, was. Reminder to myself: short Western Union and MoneyGram stocks.
- TylerE 13y ago
  Bitcoin is worth $0.00. How is it useable for tranferring money? (Hint: It's not)
  - ye 13y ago
    It won't be. Have you ever seen a stock drop to zero? It's always something like 0.0000123.
    - TylerE 13y ago
      Great. So, if you owned all 21M bitcoins you could move $258 dollars.
baddox 13y ago
> If the world suddenly stopped seeing gold as 'money' or a 'store of value' or whatever it would lose 90% or more of its value. Bitcoin would lose 100%. For the world to suddenly stop seeing Bitcoin as 'money' or a 'store of value,' the world would have to not see any value in a non-reversible, virtually fraud-immune, decentralized, near-instant, near-free, completely electronic means of exchange. Those are the attributes of Bitcoin that give it "intrinsic" value.