Thread - Nostr Hypermedia

Value is subjective. The question is on what a person bases the value. Bitcoin is valuable. You can buy a house with it. But the subjective value of bitcoin is not based on any objective property of bitcoin. There is no difference between Bitcoin or any other so called shit coin. Actually there is no intrinsic feature of bitcoin that you can objectively base anu value on. It has no intrinsic value. Gold value is also subjective, but it is based on it's objective properties. For instance an electronic manufacturing company might buy gold because it's high resistance to corrosion and high electrical conductivity. Anyone who isn't trying to manufacture electronics won't care about electrical conductivity. Therefore the value of this objective property is subjective.

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Replies (2)

DasFrettchen 11 months ago

correct, the "thing" has intrinsic properties and that is a reality. How one values that property depends on the individual. copper is conductive but gold is more conductive, hence if is conductivity you are looking for gold is better than copper. the theoretical characteristics of money for exemple are durability, portability, divisibility, uniformity, limited supply, and acceptability. The more you have of each the better the money. Acceptability for example is very subjective and geographically dependant. even money by definition has no intrinsic value, gold and bitcoin included. I do personally value both, so if you want to give me some I won't say no.

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Peace K 🪙 11 months ago

For something to become money it needs to have all the characteristics you mentioned on top of the foundation, which is that it already has value. That is why I doubt Bitcoin will ever become money. We need some sort of mashup between the two. Gold and Blockchain. As I described in my previous comment.