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RE: Bitcoins Death By 21 Million Cuts ... 5 Or 6 Times - Part 1
Actually bitcoin does have intrinsic value...it costs money to mine a bitcoin...hence giving it value. It costs nothing to create fiat.
Talk to miners and ask them when it costs to create a bitcoin in their wallet....
Costing money to mine it, doesn't actually give it an intrinsic value, it just is USD or BTC cycled back into the economy via the purchase of computer equipment (jobs) and electricity (jobs). If once electricity is spent on mining coin is coin electricity LOL joke!
In reality tho, electricty is non permanent, so it can't be argued that is the intrinsic value. If we mine steel, that doesnt make its value - the fact that it is used in all infrastructure vs total supply is where value is derived and then market forces are layered in.
BTC intrinsic value is a function of its network only this case.
There are only 3 ways to obtain Bitcoin..Buy Bitcoin with cash, Mine Bitcoin which is now very expensive for electricity and buying mining equipment, and last but not least....someone gives you bitcoin. Hope this helps~! all donations accepted here;18sbJiLrAA5ogJoktQxpe8RJ5LaSDmcqbK
Tibets should be worth a cup of coffee...WeLoveBitcoin~!!!