Quote from: Richy_T on July 13, 2015, 04:18:53 PM

Quote from: aztecminer on July 13, 2015, 04:12:06 PM

metals have a intrinsic value while bitcoins does not. i no longer trust bitcoin because it is, in my opinion, manipulated by whales and exchanges.your in the club or your not... their are predators out hunting for some poor newb who invests a bunch money into the scheme while they pump it and then they turn around and dump on them causing them to fear and dump their coins at a loss for their gain.. you trying to claim that is a system we can trust ?? this is my new opinion about bitcoin.

There is no such thing as intrinsic value.

Gold's utility value is pretty low and its current price is mostly speculative. Good luck with that.

You write that as if it were either true or meaningful, so lets unpack it a bit.
This "no such thing as intrinsic value" notion depends whether you are talking philosophy or economics.
Economics has a practical definition of intrinsic value, which very different from the arguments philosophers use.

So there is such a thing, unless you are 'only' a philosopher and not also an economist. For those that are both, or are at least economists, the opposite is true.