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Bitcoin has no value. It has a price, but not a value. Dutch tulip bulbs, 2008 Sacramento real estate devlopments, Pets.com stock all had prices at some point
by Ologn 12y ago
Bitcoin has no value. It has a price, but not a value. Dutch tulip bulbs, 2008 Sacramento real estate devlopments, Pets.com stock all had prices at some point, but their value was always less than its price.
- adventured 12y agoSaying that the value is way less than the price, is not the same as something having no value (your first sentence). Your examples contradict your first point. Tulips have value today, a lot less than the bubble. Sacramento real estate has lots of value today. Pets.com was worth something even when it went bankrupt, even as little as it might have been. $4.3 billion isn't a very big bubble besides. Not even a drop in the ocean of global currencies.
- cjo 12y agoOut of curiosity, which theory of value are you using here? There are many and in the most commonly used value =/= utility.