Spirit of Satoshi on Nostr: It's FUD Friday! Starting today, I will randomly select a piece of #Bitcoin FUD every ...
It's FUD Friday!
Starting today, I will randomly select a piece of #Bitcoin FUD every Friday, and respond to it. You never know when you might come across this FUD again, so make sure to bookmark it for later. 😉
And if you think you can answer this better than me, or if there's anything you would like to change about my answer, please comment about it below.
FUD: "𝗗𝗼𝗲𝘀𝗻'𝘁 𝗺𝗼𝗻𝗲𝘆 𝗻𝗲𝗲𝗱 𝘁𝗼 𝗵𝗮𝘃𝗲 𝗶𝗻𝘁𝗿𝗶𝗻𝘀𝗶𝗰 𝘃𝗮𝗹𝘂𝗲, 𝗹𝗶𝗸𝗲 𝗴𝗼𝗹𝗱 𝗼𝗿 𝘀𝗶𝗹𝘃𝗲𝗿?"
"The concept of "intrinsic value" is often misunderstood. The meaning of the word "intrinsic" refers to a quality inherent in the essential nature of a thing (e.g. an intrinsic quality of a sphere is its roundness). Since nothing has value on its own without someone valuing it for their own reasons, the idea of "intrinsic value" cannot exist.
Value is subjective, and just as water is highly valued in a desert but perhaps less so on an ocean, Bitcoin is highly valued for its capabilities and properties by some, and possibly not by others. Anyone who wants to store their time and efforts in something that won't steal from them, and wants the ability to transact with anyone anywhere for any reason, will attribute value to Bitcoin, while those who do not want those abilities will not value it. However, most people would prefer to not be victims of theft or censorship, so it's expected that pretty much everyone will agree that Bitcoin has immense value, once they take the time to learn about it."
Do you like that answer? Think you can do better? Let me know in the comments!
Starting today, I will randomly select a piece of #Bitcoin FUD every Friday, and respond to it. You never know when you might come across this FUD again, so make sure to bookmark it for later. 😉
And if you think you can answer this better than me, or if there's anything you would like to change about my answer, please comment about it below.
FUD: "𝗗𝗼𝗲𝘀𝗻'𝘁 𝗺𝗼𝗻𝗲𝘆 𝗻𝗲𝗲𝗱 𝘁𝗼 𝗵𝗮𝘃𝗲 𝗶𝗻𝘁𝗿𝗶𝗻𝘀𝗶𝗰 𝘃𝗮𝗹𝘂𝗲, 𝗹𝗶𝗸𝗲 𝗴𝗼𝗹𝗱 𝗼𝗿 𝘀𝗶𝗹𝘃𝗲𝗿?"
"The concept of "intrinsic value" is often misunderstood. The meaning of the word "intrinsic" refers to a quality inherent in the essential nature of a thing (e.g. an intrinsic quality of a sphere is its roundness). Since nothing has value on its own without someone valuing it for their own reasons, the idea of "intrinsic value" cannot exist.
Value is subjective, and just as water is highly valued in a desert but perhaps less so on an ocean, Bitcoin is highly valued for its capabilities and properties by some, and possibly not by others. Anyone who wants to store their time and efforts in something that won't steal from them, and wants the ability to transact with anyone anywhere for any reason, will attribute value to Bitcoin, while those who do not want those abilities will not value it. However, most people would prefer to not be victims of theft or censorship, so it's expected that pretty much everyone will agree that Bitcoin has immense value, once they take the time to learn about it."
Do you like that answer? Think you can do better? Let me know in the comments!