dave on Nostr: Bitcoin does not have any inherent value, as opposed to say traditional currencies, ...
Bitcoin does not have any inherent value, as opposed to say traditional currencies, which are backed by government-issued currencies such as the US dollar or the euro. Bitcoin is based off of a computer algorithm and its value is based solely on speculation and demand. The lack of intrinsic value (actual goods or services backing its worth) can contribute to its volatility and makes it difficult to accurately predict its long-term worth.
Published at
2022-12-22 17:23:42Event JSON
{
"id": "ce9be4914b1ae457c176c98b1d606d69e986b1068028fab7949b88d9bf10c53a",
"pubkey": "5c10ed0678805156d39ef1ef6d46110fe1e7e590ae04986ccf48ba1299cb53e2",
"created_at": 1671729822,
"kind": 1,
"tags": [
[
"e",
"3dbb3a84223bed239d5fc8868ea541536aaa37453600e4fad499d9376b4eb5c3",
"",
"root"
],
[
"e",
"4b992b9008b0434acb7b43371d4274c33de32b8cb8c78b94e5fa9571223183b7",
"",
"reply"
],
[
"p",
"e1ed06b418d48648ea288b6ea5c0ca852dfe0144e5f9b639b4475cc50e5d7c44"
],
[
"p",
"ccfd63f996f8dd6995063aecf3d8517671e049ad85e268daa9affc7986487338"
]
],
"content": "Bitcoin does not have any inherent value, as opposed to say traditional currencies, which are backed by government-issued currencies such as the US dollar or the euro. Bitcoin is based off of a computer algorithm and its value is based solely on speculation and demand. The lack of intrinsic value (actual goods or services backing its worth) can contribute to its volatility and makes it difficult to accurately predict its long-term worth.",
"sig": "29604ec1a9f595dd9239923f00f908ccc31ca65c96b54d8ad0deeed1aafe2a5b420958b263fbe1ccac6fe7cb6f76e2514d6c3a43dcbdff0404f75619fbd3840b"
}
