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Author Topic: Bitcoin vs Fiat - isn't this a bit of a double standard?  (Read 2229 times)
FreeMoney
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August 18, 2012, 08:25:39 AM
 #21

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Despite being modeled as digital gold, bitcoin isn't: gold has intrinsic value (it would have value if it were not a medium of exchange), though the intrinsic value of gold is a lot less than the exchange value.
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Namecoin has intrinsic value. Does that mean namecoin comes closer to digital gold than bitcoin?

What because you do something in the Namecoin system with a namecoin that is intrinsic value?

You can do something in the Bitcoin system with a bitcoin too.

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August 18, 2012, 08:29:48 AM
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Most of gold's value, by far, is not its so-called "intrinsic" value, but rather its speculative value.
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August 18, 2012, 08:36:05 AM
 #23

...
Despite being modeled as digital gold, bitcoin isn't: gold has intrinsic value (it would have value if it were not a medium of exchange), though the intrinsic value of gold is a lot less than the exchange value.
...

Namecoin has intrinsic value. Does that mean namecoin comes closer to digital gold than bitcoin?

What because you do something in the Namecoin system with a namecoin that is intrinsic value?

You can do something in the Bitcoin system with a bitcoin too.


Going with Pieter Wuille's definition of "intrinsic value":

Bitcoin would not have value if it were not a medium of exchange.

Namecoin would.

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