Bitcoin Forum

Lol watch this guy respond to mark cuban who thinks "bitcoin has no intrinsic value"

https://cryptotradernews.com/insights/mark-cuban-bitcoin-has-no-intrinsic-value-and-its-hard-to-use/ (https://cryptotradernews.com/insights/mark-cuban-bitcoin-has-no-intrinsic-value-and-its-hard-to-use/)


Insightful and funny at the same time  ;D

LOL - video is funny. although I personally do think bitcoin would save you if a depression hits us

Mark cuban only knows basketball and tv entertainment. don't listen to him.

BTC has exactly the same type of value as US dollar, Euro or Yen.

Backed by its reputation and trust.

To say that bitcoin has no intrinsic value is like saying that ownership transfer shouldn't exist. it's kind of a dumb argument.

HAHAHA. they're both funny. I liked his response. quite on point. although gold is used more than in dentistry and jewlery. tech devices use gold too. gold has more intrinsic value than bitcoin imo

completely disagree with you on that one... gold doesn't have a single use case that can beat Bitcoin's transfer of wealth.

Gold's uses don't match up in quality with bitcoin's biggest use case: transfer wealth at a cheap cost anytime anyday. you can't do this with gold. and golden teeth or shiny objects don't match this.

Master investor says that Bitcoin is only worth what people will pay for it. What a joke. His first sentence proves that he's a clown.
Every now and then somebody invests money and gets lucky. It doesn't make him a good investor. Cuban had some good investments but he's got no knowledge and he likes to talk about things he don't understand which makes him a laughing stock.

I mean, someone doesn't get to the point where Cuban is just on dumb luck. He may have gotten lucky, sure, but he's still a great businessman.

He is just a little deceived when it comes to crypto imo.

Bitcoin and gold are different kind of assets and while having attributes that can be compared, gold is physical while Bitcoin is an immaterial asset.
Gold as material asset it has way more use cases than what you describe.

James Webb telescope is an example of why gold is important and the strong use case it has:
https://eoncoat.com/mirrors-nasas-james-webb-telescope-receive-gold-coating/

That said, I am of the opinion that Bitcoin is better than gold as both store of value and a means of payments and transfer of money worldwide.
Still there is actually no need to degrade gold as a metal and I see no value for Bitcoin in doing so.

How come Bitcoin does not have intrinsic value when in fact, a lot of people are already investing in bitcoin even though they know there's a high level of risk? Just like him who's hating on Bitcoin, they just don't really know bitcoin that's why they can say such things. But in the end, I don't care what they're saying against bitcoin, I'll just continue what I'm doing, believing in bitcoin.

The article's response to Bitcoin having no intrinsic value is spot on. Demand makes something valuable, and thus gets its purchasing power. Fiat's value is dictated by the government, Gold's value is driven by demand and luxury, and any other type of currency, or material, gets its natural value from demand. Thus, Bitcoin actually is comparable to all tyoes of currency, and the statement is false.

Though I agree on the part that serious regulation must be implemented on ICOs, since as of now, they're just destroying Bitcoin's image rather than actually propel the progress and make meaningful projects.

He most likely does not understand what he is talking about and has never encountered crypto in real life.

But the reverse too, bitcoin would bring us to depression if we don't know how to control emotion on trade :D
Anyway i think it's just a joke video that we need to cheers ourself in this bloody market lol

I agree with the comments in the article about the stuff this guy said. Bitcoin does not have intrinsic value, which is perfectly normal. It is indeed worth as much as people are willing to pay for it, which is the cornerstone of the free market. The problem is that this guy is looking at Bitcoin as a kind of valuable property, and then he's right that it's not like that. But Bitcoin, unlike stock/property/security is also money, and money is supposed to be like that. On the other hand, Bitcoin can be a profitable investment, but there's no wonder Mark Cuban does not see it. He's super-rich already, he has no motivation to risk or even learn something new.

You wouldn’t be surprise he would soon emerge as bitcoin maximalist in the next few years, everybody FUD bitcoin first before they eventually shill it, remember the Morgan Stanley 2017 tm

“Bitcoin is only worth what people are willing to pay for it” - Makes you think of those $10 000 000 paintings out there... right.  ::)

“Bitcoin has no intrinsic value” - So if you cannot see it or touch it, it has no intrinsic value? - Can you touch the credit on your credit card?

“99% of the population finds it hard to use Bitcoin” - The Millions of users on Blockchain.com and Coinbase will differ from you.  ;D

“Gold and Bitcoin won’t save you from a depression” - Yes, but you can store your wealth until things returns to normal or you can use Bitcoin to

pay for things and not having to count on failing fiat currencies.  :P

Mark Cuban like to be the guy that know it all and he is always right, because he is super rich and that somehow gives him the impression that he

can tell other people what to do and what they must invest in.  >:(

Except you can have an infinite number of US dollars, Euros or Yens...

Indeed the States that issue and govern those fiat currencies, can simply print as many as they want. Bitcoin has a limit, and production rate all defined in code that all nodes and miners agreed upon, and now cannot be changed without the vast majority of them also agreeing.

It is the same, but not quite. You can assume a fiat (or State backed crypto) will inherit the reputation of the country it represents, but this is not the case with Bitcoin. Indeed, if something were to happen to the economies, of USA, Europe or Japan, their coins would very likely suffer. Not with Bitcoin. If anything, if global economy collapses, Bitcoin demand will rise to seek refuge. If global economy booms, people would have more money to buy (presumably cheaper) bitcoin for the time when it goes bad...

So yes and no. Trust in code, not governments.

he can say whatever he wants, but more than likely he's having bitcoin stash also. and the thing is, we are already over with these so-called 'experts' giving their opinions, predictions or speculations and we know already what needs to be done with our investments. it is only us who can finally decide what we will do with crypto.

I've got tired of this topic. Skeptics are fond of pointing out that Bitcoin has no intrinsic value. Well, I'm not going to argue with anyone on this because I know for sure that it has no intrinsic value and so? That's why I like Coinmonks' explanation here - https://medium.com/coinmonks/bitcoin-has-no-intrinsic-value-and-thats-great-e6994adbfe0f. They just made a proper explanation on everything. Bitcoin has no intrinsic value, but still, that's great.

Everyone must not have the same opinion about cryptocurrency because it's not meant for everyone. Only the people understands and makes use of it will speak good about it, as for those that don't, it's all their business.

That is his appreciation to the market and he have the reason to think like that. Maybe it is because of disappointment and market losses or totally disagreeing the community. But I think it was just manipulation and he tried to encourage people to sell their Bitcoins right now and then take the opportunity to buy their coins...that was ridiculous but it can be of possible to happen. I hope he may not...lol

The point with ICO is legit, it should be heavily regulated to avoid the scams as there were billions of dollars of scam to for everyone to see the real bullshit behind those we need to loose money, but Mark Cuban as an investor just went bogus on telling a fact on everything and the commentator had the best comments and he is a good debater and i would like to see Mark Cuban and all the negative people of that spectrum who are against bitcoin for bullshit reason in a live debate.

The truth is that the negative opinions about Bitcoin and the cryptocurrencies used by Cuban are not convincing, in fact Bitcoin does have intrinsic value and the millions of people are using it.

It is clear that cryptocurrencies have some disadvantages and one of the biggest challenges is scalability, it is desired that projects can process millions of transactions in minutes always efficiently and is a problem for most cryptocurrencies.

bitcoins intrinsic value(s) (ethos, desire, solution, utility) is that its a decentralised payment system
bitcoins intrinsic value (financial value) is its cost of production due to its desire to spend money acquiring it(mining cost)

bitcoins PRICE is not the same as its value

bitcoins price is its intrinsic value($mining) + public demand speculation + hype of future demand speculation

for instance the 2018 $20k has a ~$5k IV and $15k speculation=$20k price
today has a $6.5k IV and $0.6k speculation=$7.1k price

same with gold it may cost ~$900 to make but add on speculation gives is a higher price.
golds SPOT value is not the intrinsic value

Another guy that tries to say something bad about bitcoin in social media so everyone can start following his trend.

When will this people gonna learn nobody cares of their own opinion when we know more about crypto / bitcoin than them?

We are not going to change our opinion or stop buying / selling just because some random guy talks about it.

Haters gonna hate...