Post
Topic
Board Speculation
Re: Explanation of why Bitcoin price is falling.
by
Wilhelm
on 30/09/2014, 23:45:47 UTC


Remember that there is no such thing as “intrinsic value.”
Quote

BTC and gold and fiat have no intrinsic value. Thats what make them good money. Silver, food and water have intrinsic value.

Intrinsic has to do with properties of the material, system etc.
Value is that what people give to it. Value can be determined by many factors of which usability or aesthetics are some.

So there IS a thing as "intrinsic value" it just depends on how you read it.

A person can give value to the intrinsic property (by desiring it).
The intrinsic property does not determine its value (it does not necessarily make it more desirable).