Quote from: hatshepsut93 on Today at 10:11:06 PM

Quote from: reasonspace on Today at 02:21:39 AM

Fourth, the subjective theory of value is wrong. People can be defrauded. Theranos is a recent example of this. People can also be mistaken about value. The housing crash or the numerous failed investments in start-ups are clear examples of this. When people are defrauded or are mistaken, this means their belief in something being a value is wrong. Just because a lot of people believe that something is a value doesn’t make it so.

I don't think that existence of fraud disproves subjective theory of value. From the point of view of defrauded people, they are having a good deal, and if they knew the truth, they would change their evaluation.

Stocks can be analyzed by looking at performance of the company, state of the market and so on, and then calculating how much should they be worth, based on expected profit, but if a company lies about the state of its operations, you will get defrauded, even though you used math to calculate "objective" value.

That's right and Theranos and similar companies cannot be compared to bitcoin. Bitcoin has no CEO, no front man to make promises. It cannot lie about its performance, we all see it and can analyze the blockchain if we went.
We weren't persuaded by anyone to invest in bitcoin, we did it because we saw value and uniqueness in it.

OP, what is "real value"?
People gave you an example of diamonds and gold, but there were many more similar cases in history. People were using seashells as a medium of exchange which proves that bitcoin doesn't have to be valuable to be used. Its use and trust in the system makes it valuable.

What persuaded me to support bitcoin was mainly decentralization. I had enough of banks deciding what I can buy and reporting my finances to various authorities. I want to be able to travel with my money without having to confess and explain myself every time. I want to be able to spend on whatever I choose to because it's my hard earned money we're talking about.