Post
Topic
Board Bitcoin Discussion
Re: Does Bitcoin have real value?
by
reasonspace
on 11/07/2022, 18:23:20 UTC
You keep repeating the same argument while not explaining why people aren't allowed to be mistaken about objects of their valuation.

By saying "aren't allowed", are you saying that I will use force on people who are mistaken? Because I've made no such claims. People are allowed and are often mistaken. They also pay for the consequences of their mistakes all the time.

Take gold as an example of a valuable object that still keeps maintaining its value. Gold is seen as a valuable commodity because it is scarce in supply, has a very high stock-to-flow ratio, is very hard to destroy due to its chemical passiveness, etc.

It may be true that gold is scarce. It may be true that gold has high stock-to-flow ratio. It may be true that it's hard to destroy. These are not the attributes that makes gold value. Gold is valuable due to its affect on the valuer, specifically, Man. Now, those attributes may make gold expensive (i.e., cause it to have a high price), but price and value are two different things.