Bitcoin’s Intrinsic Value Dilemma


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There is no shared opinion on whether bitcoins have intrinsic value or not. Some conservative-minded people believe that intrinsic value may only be possessed by seizable assets, although this obviously disregards such inseparable attributes of today’s realities as software or internet. Others assume that intrinsic value is the feature of such commodities as gold or silver because what matters is the way they are perceived and the history they have.

The classic example, however, proves that a starving person would definitely attach more intrinsic value to a loaf of bread than to a piece of gold, regardless of its centuries-long status. In such a way, none of these opinions seems to be comprehensive enough. One of the ideas this implies is that we are asking the wrong question. The matter is not simply whether bitcoins have intrinsic value, but what exactly intrinsic value actually is. Only after this question is answered (considering the fact that not only expensive physical objects possess intrinsic value), the bitcoin dilemma may be solved.


Read more ... source: CryptoCoinsNews