172 sats \ 1 reply \ @SimpleStacker 24 Aug 2022 \ on: "Intrinsic Value" does not exist. bitcoin
I agree with von Mises. People have intrinsic value, not things, and people assign value to things.
When (some) people say Bitcoin has no intrinsic value though, I think what they mean is they can't apply discounted cash flow analysis on it. Which is true. But those are people whose minds are still limited to fiat-denominated thinking.
Maybe, but sometimes it has nothing to do with discounted cash flows, the same people will often turn around and say that gold does have intrinsic value. Whereas gold has no cash flow either.
It's just lazy thinking.
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