Quote from: pawel7777 on September 25, 2018, 09:52:49 PM

Quote from: halfmil on September 25, 2018, 04:23:42 AM

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I have heard that bitcoin has no intrinsic value countless times from naysayers but I don't think that is the case. Correct me if I am wrong but the bitcoins that are printed on paper that come out of those bitcoin atm machines with the qr code on them have every bit of intrinsic value as paper money has. As in you can use them to write on, or start a fire with ect.. matter of fact you can just carve a wallet address or put a qr code on anything you want like a bar of gold or like those physical bitcoins they sell that you can load the amount of BTC you want on it. Bitcoin does not have intrinsic value because it doesn't need to have it but anyone can give bitcoin intrinsic value by turning it into something physical they can hold if they want to.

I prefer different argument - What if some wealthy, trusted person/entity publicly and legally obligated themselves to "back" Bitcoin by exchanging 1 paperclip for 1 BTC on demand, disregard of the $ price. Now, by law, every bitcoin effectively have intrinsic value.

What would it change in practice? Perfectly nothing. Significance of intrinsic value is widely overrated.

Alternatively you could argue that the Bitcoin network (with its ability to transfer bitcoins, send messages, files, verify signatures etc) has its own intrinsic value. But to me, it makes no difference.

Quote from: Perunex on September 25, 2018, 01:20:21 PM

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But what does he get with the 5-6 pages of replies on his thread? His inner satisfactory and that's it?
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Could be a 'trolling' satisfaction. Could be a 'bear' trying to make his little impact in driving the price down. But if he starts a topic, shows some engagement, then go quiet, just to start same topic wrapped in different words - then I have my doubts about his intentions.

I agree 100% I do not think intrinsic value is what makes something inherently valuable. I have come across several people like the op and it seems that most of their entire argument rests upon this point and it is the cornerstone of their belief. My point is bitcoin doesn't have intrinsic value or need it to be valuable but it can have it. They don't seem to realize this fact. And yes I agree it makes no difference in this case.

These people seem to talk about stuff they don't really know or understand. They claim to know how economics work and what has value so that gives them an authority on the subject but they never sent a bitcoin to a wallet address.

Sadly I would probably feel better if this was a troll or a bear because that would make a lot more since. The truth is there are people that feel this way and the only thing I can relate these absurd statements that they make to is higher education.

It seems that most of the people I encounter with this type of arrogance are people that have spent their entire life in school. They go to school for 17 years then they become a teacher and stay in school for another 20 or 40 years and the next thing you know they have spent their entire life in the system and have no other vision of what society is. They can't relate. They think they are somehow morally superior to people that have not spent 30+ years in school. These people are highly dogmatic. They seem to like to tell other people how uneducated they are because they spent enormous amounts of their time and energy in school and it would seem that their life would be a waist if they didn't use their intelligence to show the world how smart they are and how dumb almost everyone else is. This is just how I see it.

These people always seem to align themselves with an ideology but the ideology ends up defining who they are instead of the other way around. They cease to be an individual and become group think. They seem to latch onto anything anyone else says that furthers their cause. Almost like a anti bitcoin religion. They are never wrong about anything, although this guy surprised me when he changed his mind from value being objective to subjective.

What I have also found is that these type of people seem to be very elitist and try to speak for everyone on their behalf but they let others define themselves and for some reason they care about how they are defined it's absolutely ridiculousness.

There are people that don't have to prove anything to theirselfs and there are people that need to prove something to theirselfs. This guy is the later he is a farce.