It is beyond my understanding why to are so desperate trying to convince us that the Bitcoin is worth nothing.
Unless you have an agenda and are paid by bankers or something alike, which I could understand,
why don't you just leave this place ? You will NOT convince us that $900 = 0 whatever you say.
Everything is worth something on this planet, even dirt or sand, or shit (some country use it to be converted into gas).
Whether you agree on the current pricing of these thing or not is irrelevant.
You don't make the market's prices.
You say bitcoin has value. You say I have to just read this post to understand:
1) Bitcoin has no intrinsic value, 2) the network does. Thats what everyone is missing altogether and or misrepresenting.
3) The networks value is derived from it's ability to send value across political and geographic borders, nearly instantly and dirt cheap, with minimum effort. Additionaly it enables this without the risks commonly found in traditional financial instruments and value stores. Risks like hyper-inflation, manipulation, ceisure or other meddling by governments or institutions for whatever reason.
The ability to move value is enormously valuable.
1) He agrees with me that Bitcoin has no value for itself (like for example water that quenches thirst, food to feed my children). This statement is obviously true, as I cant do anything with 1 bitcoin.
2) He says the network of miners gives bitcoin value (how? the bitcoins are not a claim on the mining equipment. I cant sell the mining equipment or take it in my possession. Again dollar bills once where a claim on gold that I could take in my possession).
3) He says "the networks value is
derived from its ability to send value instantly and dirt cheap".
Now when he refers to "sending value" he is talking about bitcoins. Because after all you are sending bitcoins. However as he has established in the first part of his first sentence "Bitcoin has no (intrinsic) value". So he is contradicting himself.
To summarize the information he gives us: 1 Bitcoin has no value (=nothing) and this
absence of value can be sent at a cost. Now how exactly is this convincing?
As I said previously: Incurring costs (energy which is something) to send nothing does not make nothing valuable. It is a waste of energy.