that the intrinsic value of everything is subject to the confidence in it being needed for something.
If Bitcoin is needed to keep your finances away from others, it's intrinsic value is high, even if it has no physical intrinsic value.
If I substituted other materials in place for silver's use in everything (which can already be done now), silver's physical intrinsic value goes to zero because people's confidence in it being NEEDED for those uses goes away.
It's all about perception.
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