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What is the intrinsic value of bitcoin?
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Where the people fear the government you have tyranny. Where the government fears the people you have liberty.
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Hey dude, apologies on the late response - it's been a bit since I've logged in here.
To address the question, let's begin with defining the term, 'intrinsic value'.
Investopedia defines it as:
"Intrinsic value is a measure of what an asset is worth. This measure is arrived at by means of an objective calculation or complex financial model, rather than using the currently trading market price of that asset."
With that, intrinsic value is an objective term where in the valuer derives an items perceived worth. Right, so it would be better to gain an understanding of what bitcoin is and why it is valuable, before you ask why it is intrinsically valuable as that may vary from one person to the other.
For instance, bitcoin as a distributed ledger technology, having its own currency, monetary policy, and payment network is intrinsically valuable to anyone who cannot gain access to the 1st world banking system. In the United States alone, that includes over 50 million people, and globally that's over 1.5 BILLION adults. You're probably not one of those unbanked adults and would therefore not gain intrinsic value from gaining access to bitcoin as a financial instrument.
Another example using the aforementioned attributes, global remittances is a $700+ BILLION industry (that's annually). Remittances fee's vary on a few variables but even by the lowest measure these costs are magnitudes greater than the fee's on the bitcoin blockchain. This means any one of the millions of people who make cross boarder payments will gain intrinsic value through by using it's payment network, let alone the efficiency, security and privacy that are all improvements to that industry as well.
To me, personally, I find intrinsic value in diversifying my portfolio with a highly-liquid ($42B today alone), permission-less, asymmetrical risk asset class, that is more rare than gold (while having better properties) that I actually own, securely, and can use for discounted consumer products and services, travel with safely to seamlessly exchange currency, protect my identity, transfer funds generally and generate returns.
I'm hoping that my businesses clients will soon be more comfortable using it because of how much easier it would make my life with accounting.
There's 14 different ways right there I gain intrinsic value..
But really, anyone who uses credit cards will gain value through not paying the up-charge that is associated with that systems payment processing network, which is a billion dollar industry.
You need to gain an understanding of what bitcoin is to be able to determine its intrinsic value; having an understanding of your own question would probably help too.Last edited by easyrider123; 05-12-2020, 10:01 PM. Reason: I timed out typing this and the text was unorganizedComment
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There is no value to bitcoin other than perceived value. There’s way too many coins out there now.Love It or Leave ItComment
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This thread is an interesting experiment that continues to prove that most people have absolutely no idea wha they're talking about.Comment
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It has no intrinsic value. Warren Buffett won't touch it.sigpic
PIMP stands for Positive Intellectual Motivated Person
When pimping begins, friendship ends.
Don't let your history be a mysteryComment
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New's broke Friday of some big investment decisions Berkshire Hathaway made in Q2, and I wanted to take a moment to address this.
They purchased 20.9M shares in Barrick Gold worth $563M.
Warren Buffet for a long time has held disdain for non-cash producing commodities like Gold and by investing in a Gold Miner they are still investing a cash-producing business that's performance is partially tied to the performance of Gold. It's like a step in the direction of a change in opinion which was necessary as he's got one of the worst performing portfolio's of the year.
They exited their entire position in Goldman Sachs.
They dumped 60% ownership in JP Morgan.
Dumped 26% of Wells Fargo.
Increased BofA position to control a 12% stake in the $22B company.
The fed just printed about 1/3 of all US bank notes ever printed, AND there are still talks of negative interest rates coming.
Buying Bitcoin on its bottom during the 2020 financial collapse would net a 320% gain in only 4 months.
...ouch... sucks broComment
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Def not for me, I'll stick with what I know, real estate.A guy told me one time "don't let yourself get attached to anything you are not willing to walk out on in 30 seconds flat if you feel the heat from around the corner"
Robert DeniroComment
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John McAfee said it'd blow up...
Not as much as he thought, but he said it'd blow up, and it did.Comment
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Two questions for the OP:running bitcoin
1. What does your thread title actually mean? "running" bitcoin. What do you mean by, "running"? It seems an awkward use of the verb.
2. What is your interest in telling others about bitcoin? What do you gain?
I have my own opinions regarding cryptocurrency. I know what Bitcoin is and I know what it isn't.
Please, do your best at answering my two questions? Thanks..
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NRA Lifetime | Avatar courtesy Elon Musk's Twitter User SomthingWickedComment
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True wealth is time. Time to enjoy life.
Life's journey is not to arrive safely in a well preserved body, but rather to slide in sideways, totally worn out, shouting "holy schit...what a ride"!!
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1. I'm glad someone asked this question! It's symbolic, "running bitcoin" was tweeted by Hal Finney, who was the first known person to work with Satoshi Nakamoto to use and improve the bitcoin software. Some say that Hal actually was the anonymous Satoshi as well (I happen to believe this theory), but no one can prove it to be true or false. Hal died of ALS around the time Satoshi disappeared. The running bitcoin tweet is also the first ever tweet mentioning bitcoin, and since I was the first one creating discussion about bitcoin on this forum I couldn't help but reference it. Good question.
2. My interest is simply in helping educate the Calguns community. I don't gain anything outside of knowing that I contributed said education to this community, or perhaps peripherally seeing what questions/misunderstandings people have helps build my personal articulation of the subject. Ultimately, when people see how awesome this tech is, they want to share it with others. I do own bitcoin, but to benefit financially from people buying it you have to be driving Billions of dollars in investment. It's something like $100M a day just for the price to stay flat as new coins are mined / the circulating supply grows.
Feel free to share your thoughts on what it is and what it isn't.Comment
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