Comment: Bitcoin doesn't have intrinsic value...

(See in situ)

In reply to comment: Bitcoin's intrinsic value? (see in situ)

Bitcoin doesn't have intrinsic value...

it has subjective value, just like all things have subjective value.

Bitcoin's value isn't inside each Bitcoin, it is inside us, the price is a reflection of the combined subjective valuations of individuals participating in the market process.

It has value, because people have valued it.

Check out the Laissez-Faire Journal at LFJournal.com


"The State is a gang of thieves writ large." - Murray Rothbard