Perhaps more importantly though, believing things have objective value often leads to very real errors in the evaluation of particular circumstances.
You believe that you have no errors if you completely evaluate every thing ONLY from the perspective of subjective value? I am not even denying the existence of subjective value, and I may even be willing to concede that a large portion of value (perhaps even an overwhelming majority) comes from various ways of considering subjective value, yet I am not willing to concede that 100% of value comes from subjective value... ..
but isnt bitcoin a prime example of a purely artificially priced thing in action? as a private key or tx is just a number.. no value on its own at all. and after all the btc price is.. the btc price. no distractions of some secondary value interfering with price discovery.
You are right, in the end it's just a piece of code that has taken a value of 100k. But what about fiat? It's just a piece of paper that is printed by government and with no backing at all. In Bitcoin, at least we have "
no distractions of some secondary value interfering with price discovery".
Look at the history of trading and money. It's all explained therein.
From a philosophers point of view, one may only define true value(s) after he has lost everything.
I asked
ChatGPT to tell me what is
"true value" and gives me an interesting answer that
"true value" has different meanings which depends on the context used:
1. Philosophical Context
2. Economic Context
3. Mathematical Context
Philosophical Context you have given.
From Economic Context, true value is intrinsic value of a asset e.g. company or equity. That means real worth of an asset is based on fundamental factors like earnings, growth potential, and market conditions. Opposed to speculative or short-term market prices.
Now if somebody can fit Bitcoin true value in Economical Context.
EDIT: For those following my personal story here (what OpSec?), the final court session with my insurance as combatant will take place in a few weeks. According to the surveys it will be a clear win for me (4th time in 13 years) again. So, when my money will be rolling in, and it's quite a pile after 17 months of trial, Bitcoin will be hopefully still below $100k (don't hate me now), but most probably not.
In next 12 to 18 months Bitcoin probably will be close to 200k$ or may be more. Don't ask me if that was true.