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52 sats \ 3 replies \ @Aardvark 6 Dec \ on: MONEY CLASS OF THE DAY: Intrinsic Value vs Subjective Value...and Music! econ
Big shout out to @DarthCoin
Each bitcoin gives the holder the ability to embed a large number of short messages during the transaction in a time-stamped, globally distributed permanent data store, namely the bitcoin blockchain. There is no other similar data warehouse that is so widely distributed. There is a trade-off between the exact number of messages and how quickly they can be embedded. But from December 2013, it is fair to say that a bitcoin allows you to embed about 1,000 such messages, each within 10 minutes after shipment, since a rate of 0.001 BTC is sufficient to confirm transactions quickly . This message embedding certainly has intrinsic value because it can be used to prove ownership of a document at a given time, to the include a one-way hash of the document in a transaction. Considering that electronic notarization services charge something like $ 10 per document, this would give an intrinsic value of around $ 10,000 per bitcoin.
https://darth-coin.github.io/general/bitcoin-myths-debunked-en.html
Yes, the intrinsic value of just that service. However, I think there is more to the bitcoin service and blockchain than just as a message services. It is also a permanent receipt for any transaction from one to another account. So, at least FINCEN sees a value in knowing who is transacting with whom. Isn’t that the way they caught the Silk Road people?
I am just a noob, so I would like to ask @DarthCoin if he knows other intrinsic values for bitcoin. How about it @DarthCoin?
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Isn’t that the way they caught the Silk Road people?
No. SR was a gov hidden operation from the beginning. Ross was co opted as patsy. Typical shit operation tactics to denigrate Bitcoin and trying to destroy it. Sorry for Ross but they used him.
As you may know (if not, then watch all the videos about SR I posted here) SR servers were watched all the time and they know all the time the location of Ross. They literally prepared a trap for him, to be in the right location at the right moment so the catch will be a real big news. They wanted to make an example of it to scare the shit clueless normies.
other intrinsic values for bitcoin.
Good question.
As answer I would mention this very good article by Jeffrey Tucker, from 2014: https://fee.org/articles/what-gave-bitcoin-its-value/
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I didn’t know that it was an op from the get-go. I knew that he was the patsy, though. I think if people pondered it a bit, they would have known it was a trap or op by the state.
I read that article before, can’t remember when, but I follow Tucker and read everything I see by him.
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