Quote from: deisik on December 09, 2013, 09:31:52 PM

Quote from: porc on December 09, 2013, 09:00:36 PM

1) Any widespread media of exchange that ever existed, always had inherent value (something). The reason for this is that people will only exchange something for something. NOBDODY! wants to exchange something for nothing. Bitcoin has no inherent value (examples of inherent value: water thirst, food hunger, house shelter, gold, art decoration/pretty/ industry). Thus bitcoin has already failed in this aspect.

There is no inherent value to anything as far as human valuation is concerned. Each man has his own conception of value (that is why it is called subjective value in the first place) over anything. If it were otherwise, no exchange would ever be possible at all. People exchange goods only because their subjective valuation of the goods that change hands differs...

repeating the tired arguments of a bitcoiner I have refuted up thread already.

Yes value is subjective, but you cant explain to me what I CAN DO WITH BITCOIN. Get that?

Water has value as I can quench my thirst. Food has value as so I dont starve to death. Nobody will say: Ohh needing to drink water (any form of liquid) to survive is subjective. Some people dont need to drink. You just hide behind this subjective value theory (which is correct insofar as it says that value judgements change from individual to individual) but can not state 1 thing I can DO with bitcoin.

I can state one thing I can do with gold (jewelry, its nice to look at for most people). What can anybody do with bitcoin in any situation? Say 1 thing?