What is the intrinsic value of crypto currency?

industry

This graph is retarded, delete it. You can't have two points on the same time value.

1 million dollars

how much it costs to mine them

Yeah this

it represents the bogdanoffs travelling backwards in time to manipulate the crypto markets

It's easy OP
>intrinsic value = cost of electricity per hour * hours to mine single coin + cost of hardware
Miners keep the network trustless, the less trustless the network is, less valuable it is.

Makes sense

>The value of a product is the cost the producer incurred rather than what it offer to the buyer.
Fascinating, you guise are pretty smart here at Veeky Forums.

venezuelans

That money is just gone. it's literally just heat in the atmosphere by now. Bitcoin could be worth $250 tomorrow.

>cryptocurrencies
except that every cryptocurrency is backed by project that has or has not real world value

No, the US dollar has an intrinsic value which is the US Gov's ability to enforce taxes be paid on the Dollar. Also the US dollar is super stable.

strawman

I calculated the current intrinsic value based on this algorithm. Assuming you solo mine with antimer s9 and have to pay $0.1 for kWh, the current value of BTC would be $4742.98, what is also interesting ist hat difficulty has been going down in past few months bitcoinwisdom.com/bitcoin/difficulty that would also support this theory. If you check whattomine.com, bitcoin is not even worthwhile to mine.

mining cost

Bitcoin has the intrinsic value which is the US Gov's inability to enforce taxes and selectively enforce who pays to whom for what in Bitcoins.

US Dollar, FIAT value, is any Gov's ability to force you to pay taxes in it, and force you to close your bank account, force you to like it even when the Gov's inflates it, creates bubbles and re-denominates or Quantum Eases the currency. You are at the mercy of your Govt, the FIAT is not yours.

Bitcoin, and other cryptocurrencies main intrinstic value is avoiding being forced by Gov's to do anything with it, it is only your own money, and only you decide what to spend it on and when - and only you decide its true value.

Investing in money that was already spent by some autistic dude in a GPU farm

That's like buying heroin someone just shot into their groin

Literal commie "economics".

13th post best post

Because the miners, the equipment that miners use, and the people that employ them are all worthless, right goy?

I'm talking about gold/rare earth miners, by the way.

The intrinsic value is something to the defect of the convenience of drug dealers and other degenerates from using the currency to purchase illicit substances. Government tyranny that results in hyper-inflation night also drive people to hold their money in a crypto currency. Fundamentally another currency or gold could do the same as for the tyrannical government.

Just like how the USD is backed by the government amiright?

Fucking idiot.

It's supposed to reduce transaction costs, but before that happens they have to figure out a way to scale it.

Only food, water, sex and drugs have intrinsic value

Now back to highschool nigger

At least you have to mine things with expensive ass equipment when it comes to ether, btc, and others. Centralized shitcoins like ripple, xlm, and tron literally have 0 value

there is no such thing as natural intrinsic value

Gold is used in lots of electronics as a semiconductor.

Kek

people and i suppose land.
but definitely people

$0