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Honestly, I think the whole intrisic value argument is a waste of time. It feels like a tool to make people shut off their brain.
"Intrinsic value" is basically an oxymoron and should be replaced with "alternate uses".
Yes, substitute goods. Or the next most desired objective or good.
That's good
I don’t think anybody is selling bads. They have to be forced off on you. I can think of a few, right offhand that were and still are current. JABS
No, bads generally cost money to dispose of.
That was the point I was trying to make with @denlillaapan in another thread. Goods that are in plenty instead of scarcity would also involve costs to get rid of.
I have to agree with you. It does shut people off from thinking about subjective values.
Definition of Intresic:
Inward; internal; hence, true; genuine; real; essential; inherent; not merely apparent or accidental; -- opposed to extrinsic
I mean that's the opposite of subjective. And as human experience teaches us most things including gold and bitcoin are valued subject to each individual's opinion.
This simple observation is why I find the Austrian's position more logical.
Intrensic value seems very limited and I don't think gold has it. Life might. Oxygen. Water... I could argue against those as well though.