Quote from: zorco on August 22, 2014, 08:33:19 PM

Quote from: PilotofBTC on August 22, 2014, 08:17:48 PM

Quote from: zorco on August 22, 2014, 08:15:24 PM

Quote from: PilotofBTC on August 22, 2014, 08:08:54 PM

My only problem with the article and the comparison is that a house, real estate, has intrinsic value.

What gives a BitShare intrinsic value that makes it valuable collateral for creating bitUSD from?

What gives bitcoin intrinsic value ?

Nothing?

lol well for this "nothing" people are paying 500$ a piece. The intrinsic value is Block chain technology and what you can do with it.

I didn't say BTC didn't have a "value". Just not an intrinsic value.

If you asked my what intrinsic value the USD has, I would probably say, nothing is well. It only has a value because people accept that value. At least Gold has,

1. Scarcity
2. PoW - it takes real time and production to mine gold
3. Intrinsic value, it can be used for things other than as a Fiat Currency. ie, gold is used in manufacturing, etc.

Fiat has 1.

Crypto Coins have 1 and 2.

Gold, silver, diamonds, etc have 1, 2 and 3.