Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Spaceman_Spiff_Original
on 24/05/2018, 17:45:33 UTC
Quote from: Jacques_Bittard on May 24, 2018, 05:43:22 PM
Quote from: Spaceman_Spiff_Original on May 24, 2018, 05:41:21 PM
Quote from: Jacques_Bittard on May 24, 2018, 05:38:53 PM
Quote from: Spaceman_Spiff_Original on May 24, 2018, 05:36:11 PM
Quote from: Jacques_Bittard on May 24, 2018, 05:29:03 PM
Gold isn't a very good monetary asset, since it's market is speculative and that makes it unstable. But bitcoin would be far worse, because unlike gold, it has virtually 0% intrinsic value. Stability is what the monetary system needs, because that is very important to develop the economy.
I think "intrinsic value" is bullshit.


I am very serious.  In fact, maybe "value" is even a flawed word.  Something has properties, which give it utility, which can be desirable for someone.
Value is always subjective. (see "a horse, a horse, my kingdom for a horse").

So, you actually can't comprehend that gold has irreplaceable value in electronics?
Strawman much?
First off, I originally specifically said "Gold's monetary utility is also easily replaceable.", already taking into account that gold has other utility than just the monetary one.
Secondly, I was talking about the concept of intrinsic value in general.