Right, convince me that Bitcoin has any intrinsic value at all.
>in before "muh store of value"
Gold is a great store of value AND have an intrinsic value. 70 % of physical gold is being used in jewelry, another 15 % in manufacturing industries. Only 15 % is used as store of value.
Why do you own shit coin when it's obviously shit and gold is a much much better store of value and have intrinsic value?
Explain yourself, shitcoiners.
there are people in this world who prefer bitcoin over gold, that's all you need
bitcoin has value because people say it has value
Money is just 0's and 1's Bitcoin basically epidimizes that.
just because you don't think it has value doesn't mean it doesn't have value
bitcoin doesn't care what you think
bitcoin is real because there is a LOT of math behind it, and, well, math is real
No that's extrinsic value i.e. a game of who's the greater fool.
don't worry, one day it'll all click and you'll realize you're retarded
Gold has been used since at least 6000 bc to produce jewelry, it has always been highly valuable to humans.
It has also been used in coins/currency since at least 700 bc.
So money can be more than 0's and 1's.
You should own both
...so other than being a physical product, what does gold have that bitcoin doesn't?
Better question; how do I buy shit with gold in present day? Because if I want any one of thousands of goods sold online, I can simply buy it on purse.io using Bitcoin.
Bitcoin is trustless and decentralized. It represents economic freedom. It is transparent. It can't be hacked (its users can). It is not bound by any government or banking laws/restrictions. There are no age requirements. It can be freely moved across borders.
When you put it this way, it has a much higher intrinsic value than that of gold.
>choose one
Choose both you blithering moron. Add some silver while you are at it you clueless fuck.
At a basic level, BTC is worth at least the KWH and processing infrastructure necessary to power the network. Calculate that and divide over the market cap and you'll find a true COGS
>store of value
>intrinsic value
pick one
It can be traced and taxed. The goyim know.
>It can be traced and taxed. The goyim know.
Imo this makes normies trust it even more. Something that is recognized and "controlled" by government always looks more stable in the eyes of normal people instead of some coin that has a reputation of being used only by criminals like btc used to have. Maybe its confirmation bias but thats what i think
wether bitcoin or gold has real value, the only thing on this planet that has real value is land where you can grow food on or hunt animals, and that have a source of drinkable water.
gold has value because people belive that they can exchange gold in the future to buy food.
bitcoin has value because people believe they cane use bitcouns in the future to buy food.
thats the end of this story. all currencies are a believe system it only works because we people participate.
the moment we start asteroid mining and bring back tons of gold from space, gold will lose its value.
I think we're a ways off of large scale adoption of anything tbqh, even if the banks sponsor it.
>convince me that Bitcoin has any intrinsic value at all.
>Convince him he says
BUAHAHAHAHAHAHAHAHAHAHAHAHHAHAAHHAHAHAHAHAHAHAHA, what's this 2012? HAHAHAHAHHAHAHAHAHAH
>asteroid mining
Tell me more Elon
>bitcoin has value because people say it has value
>No that's extrinsic value i.e. a game of who's the greater fool.
goldbugger is right
Bitcoin HAD value when you could use it to buy, sell, store and send funds, directly to the other party on your own terms (NO BANK), quickly and cheaply. It's utility was it's intrinsic value.
It's not efficient for that anymore, and now with Mt Gox andSilk Road, the fungibility problem has ome.
Bitcoin is
>not fungible
>not affordable for regular, smaller tx's
>not fast
>has become a scam to manipulate users for the devs' personal gains, rather than a community built around a product.
It has no intrinsic value. The only reason anyone buys it now is because they think it's gong up. This is why BTC's days are numbered.
BCC has intrinsic value but needs to make tx's private to reestablish fungibility.
>t. doesn't understand value and loses money on exchanges
> intrinsic value argument again
Every fucking substance on this planet has "intrinsic value" as a result of its use in some industry. Completely fucking brain dead argument. In so far as "its useful" is concerned, there are about 1000 substances far more useful to industries and far more useful to the average person, and yet they arent valued more highly than gold.
Figure it out you stupid cunt. I fucking hate people like you.
also
> convince me
Fuck off.
You're not entitled to shit and I'm not going to assuage your FOMO.
This is simply fantasy from your part. Like I already said, gold did NOT start out as a "currency" or "store of value". Most gold exists as jewelry not as bullion.
LITERALLY the same argument could be applied to FIAT since it's just fucking paper and printing a $100 bill costs less than a penny.
It can't be traced and taxed unless you buy/sell it in regulated exchanges (or any centralized exchange for that matter)
Bitcoin is valued in Fiat. Fiat currencies have failed every single time they've been used. When fiat fails, Bitcoin will have no intrinsic worth to fall back on because it is intangible. Gold and silver, on the other hand, are tangible and used in electronics, medicine, etc. They fit every criteria of what makes money money.
>implying it has nothing to do with rarity
Yeah but it's a huge pain in the ass to not use an exchange and any wide scale adoption will be exchange based, ergo traceable.
money has never held value due to tangibility
so it is FIAT... fake
money has always been backed by something of value... bitcoin is backed by nothing
bitcoin has no intrinsic value, gold does.... meaning at its core , does it have any value.
and no , just because people want it . doesnt give it intrinsic value.... or ponzi schemes would be legal...
obviously you truly dont know what intrinsic value is...
Supply and demand
golds exchange value isnt based on any instrinsic value.
in fact nothing in the economy is, or wed still be doing barter
>Gold is a great store of value AND have an intrinsic value. 70 % of physical gold is being used in jewelry,
So 70% of gold has no value because jewelry has no use.
Gold has value because people say it has value too
bitcoin is backed by electricity and computer power.
Do the math and calculate how much money you have to spend to mine a single bitcoin
In what universe is that statement true?
>70% of gold is used for jewelry
Please tell us more about the value of your trinkets
Gold didn't start as a currency. It became a currency because it was highly valued.
It's like saying that grain is backed by the harvester machine and the gas that fuels it.
>grain is a currency
And value is meaningless and subjective. Better that everything is valued equally since the disparity value creates fundamentally holds us back as a society.
No, it was because people BELIEVED in the value. Asti with every currencie in history.
gold could and have been banned in the past.
but btc is impossible to be banned
there is no more gold coins in and daily use, so gtfo op.
The fact that you've had almost 4 hours of people arguing about your post should tell you that it has intrinsic value. It's clearly got value if these people have come on /biz to make their justifications rather than fapping on /b
>he thinks he doesn't need gold
Please bitslave explain to me how you trade bitcoin without widgets that contain gold in them.
Answer: you can't
ancient egyptians used grain as currency actually
Bitcoin is entirely speculative. Its intrinsic value is $0.
>Slow transactions making it useless for commerce
>high transaction fees
>Scalability issues
>fixes to address aforemention issues consists of either a hardfork or a frankenstein solution
>Originally intended to be decentralized currency but now it's heading towards centralization
>Energy is needlessly wasted to create artificial difficulty in "mining"
>Overall bad, inefficient design (like a rube golberg machine)
Bitcoin allows you to transact and store value in the most widespread, secure, decentralised and trustless financial network in history.
t. bitmain shill
It has none.
Doesnt mean you cant speculate and make money with crypto.
bitcoin is the gold of millennial generation and later, and some of the previous generation.
if gold dropped to its "intrinsic" value it could basically be zero as far as gold holders would care.
bitcoin is money in it's purest form, fiat is no longer real money, and gold still has significant baggage. if gold can succeed and maintain a hugely inflated value from its "intrinsic" base value, there's no reason bitcoin can't.
if you think bitcoin is going to zero, you better sell all your gold too.
>money in its purest form
>can't buy groceries
Welp
Right cause muh interwebs can never be shut off
Nothing has intrinsic value you fucking brainlet
People decided to give gold value, just like anything else
BTW all XAU quick plunges as of late are all shorts closing their positions. THey know bull is back on.