Post
Topic
Board Bitcoin Discussion
Re: Bitcoin has no intrinsic value
by
Fortify
on 17/04/2022, 09:41:43 UTC
Is it really the best way to invest your money?

Because of the way Bitcoin generates value or becomes more expensive, it could potentially lose all its value and became worthless.
Who assures you that this will not happen?

You could really say the same about any fiat currency. They are all just units of value we use to exchange for goods or services at a later point. Now, Bitcoin is a lot more volatile than most fiat currencies so that is where the distinction really comes into play. If you woke up tomorrow and discovered that the savings in your bank account could only buy 80% of what they bought yesterday, you'd likely be very annoyed. It can go up in value as well, but people generally like stability and consistency. I have a feeling that for Bitcoin at least it will improve over time as the amount of holders goes up and this should bring the volatility down. It's actually rather useful having a global currency that does not have to sit between the whims of local exchange banks.