Quote from: witcher_sense on June 22, 2022, 07:11:17 AM

Quote from: reasonspace on June 22, 2022, 02:21:39 AM

“Is Bitcoin a real value?” That is, is it something that helps sustain human life and is to be pursued for that reason?

Neither gold nor diamonds, for example, help sustain human life but they, for some reason, have maintained their value for thousands of years.

Putting side the utility of gold (e.g., tooth fillings) and diamonds (e.g., cutting devices), art is fuel for the soul. Gold and diamonds are used to create objects that gives you motivation to do more. You enjoy art (and music) as an end to itself and not just as a means to an end. This idea of things being consumed as an end in itself applies to many things. Take for example a piece of steak. You can eat any cooked piece of meat to get protein for you body (means to an end). Yet you are willing to work more to get more money to spend on a nice piece of steak in a romantic restaurant. This is an example of fuel for the soul. Man is not just an animal. He is an animal with a *volitional* consciousness. The fuel is to give his violation to do more.

Quote from: witcher_sense on June 22, 2022, 07:11:17 AM

I agree that the labor theory is fallacious and misleading. But again, "Bitcoin doesn't have value because it is mined, bitcoin is mined only because it has value."

I invite you to take a look at this argument map that I've created to help me write this article. I look forward to feedback on additional arguments for why Bitcoin has value that is not dependent on circular logic or invalid theories of value.

https://app.reasonspace.com/maps/905?token=1e709bb0-c732-4077-85a4-e0a64af89098

Quote from: witcher_sense on June 22, 2022, 07:11:17 AM

If the labor theory is wrong, then the only explanation of the nature of value is that it is purely subjective.

I disagree. There is the objective theory of value. That is, that which is valuable to your life is substantiated by objective fact. Take for example water. Water, in certain quantities, is objectively valuable to your life. You can pretend that it's not all you want, but you will be dead after a certain amount of time if you do not consume something that has water in it. This is an objective fact not subject to any subjective whim.