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To: Persevero
The thing about tulips is they have intrinsic value. You can actually eat tulip bulbs.

Besides scarcity, divisibility, utility, transportability, durability, and anti-counterfeit ability, Bitcoins have no intrinsic value.

29 posted on 05/12/2021 6:21:39 PM PDT by Right_Wing_Madman
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To: Right_Wing_Madman

Scarcity: well a non tangible thing can be made to be scarce. It is not in and of itself scarce.

Divisibility: I did say it has some little value as a means of exchange. All things aren’t easily divisible but many are. Bitcoin is.

Utility is perceived.

Transportability now that’s pretty bad. I personally know people who have lost Bitcoin due to lost passwords/funky exchanges. Dollars at least for now you make a transfer error or can’t remember a password their are remedies. Inheritance? Hah

Durability: they are non physical so actually are not durable at all. Or it doesn’t apply. Unless this is an economic term I don’t know.

Anti- counterfeit I guess is true - unless you consider that they themselves are counterfeit, again, having no intrinsic value.

Basically they have value because enough people have agreed they do, which could be said of paper money also. But paper money is backed by the US government which at least for now is still a going concern. Bitcoin is not backed by any traceable accountable anything and there are no remedies, you are completely in your own. Sadly in the US with dollars you are partly on your own for example if your cash dollars are stolen you may not get them back - or burned, or lost. Inflations wastes them some and they can be traced and illegally confiscated.

I see Bitcoin as no remedy and dollars as partial remedy.


65 posted on 05/12/2021 8:35:32 PM PDT by Persevero (I am afraid propriety has been set at naught. - Jane Austen )
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