You Say Bitcoin Has No Intrinsic Value? Twenty-two Reasons to Think Again.

There is no shared opinion on whether bitcoins have intrinsic value or not. Some conservative-minded people believe that intrinsic value may only be possessed by seizable assets, although this obviously disregards such inseparable attributes of today’s realities as software or internet. Others assume that intrinsic value is the feature of such commodities as gold or silver because what matters is the way they are perceived and the history they have. The classic example, however, proves that a starving person would definitely attach more intrinsic value to a loaf of bread than to a piece of....

Bitcoin’s intrinsic value has been heavily discussed in the crypto community this week following a remark by the governor of the Bank of England suggesting that the cryptocurrency may have no intrinsic value. Does Bitcoin Have Intrinsic Value? Bank of England Governor Andrew Bailey talked about bitcoin’s intrinsic value during a question and answer session with members of the public early this week. “I have to be honest, it is hard to see that bitcoin has what we tend to call intrinsic value,” he was quoted by Reuters as saying. “It may have extrinsic value in....

Travis Patron is a digital money researcher and author of The Bitcoin Revolution: An Internet of Money. Here he explains why bitcoin may be an intrinsically valuable form of money because it is regulated through time-bound algorithms. One of the most common criticisms of bitcoin is it is not backed by anything, nor is it intrinsically valuable. However, pundits have long been arguing that the US dollar has no intrinsic value and neither does gold. The utter misconception of this economic principle as it relates to bitcoin is too large, and too important to ignore. Everything from Dutch....

Bank of Korea Governor Lee Ju-yeol has said that crypto assets like bitcoin have no intrinsic value – put simply, a measure of what an asset is actually worth. ● Speaking in the National Assembly on Feb. 23, Lee forecast that bitcoin (BTC) will see increased price swings going forward, the local news agency Yonhap reported. ● “It is very difficult to predict the price, but its price will be extremely volatile,” said the bank chief in response to a question from a lawmaker who wanted to know whether bitcoin’s recent bull run, where its price reached a....

The CEO of global investment bank JPMorgan, Jamie Dimon, says that bitcoin has no intrinsic value and “regulators are going to regulate the hell out of it.” He emphasized: “If people are using it for tax avoidance and sex trafficking and ransomware, it’s going to be regulated, whether you like it or not.” JPMorgan’s Boss on Bitcoin and Crypto Regulation JPMorgan Chase chairman and CEO Jamie Dimon continued to express his anti- bitcoin and crypto stance in an interview with Axios on HBO, published Monday. Dimon was asked....