Ok, so....BTC. Intrinsic value or use value? Or something else? Novelty value? It certainly has functional value does it not?
BTC has no use value, outside of the context of a medium of exchange. BTC is both the currency
and an effective, worldwide, transfer mechanism. Just like gold's intrinsic value is rooted in it's properties that make it an ideal money, BTC's intrinsic value rests in the properties imbued into it by powerful cryptology and rigid code practices.
If you love gold and understand it, then you will love bitcoin for nearly the exact same reasons, as they share most of the same properties of a good medium of exchange. There are an amazing number of people (particularly on youtube) who love gold/silver and *hate* bitcoin, which shows a deep rift in their understanding.
WTF is intrinsic value?!
I hate it when Schiff is talking nonsense like that -- intrinsic value. Great analogy with seashells, libertyzeal.
Yeah sure, gold silver & lead are solid investments in my book. Are those goldbugs way too old to understand P2P, I wonder?
And bitcoin is way more attractive when it comes to capital controls.