extrinsic value

[hsdjkahskjdh]

1 usd = 1 usd
1 bitcoin = 1 bitcoin
1 peach = 1 peach

Only one of these has extrinsic value
Only one of these will keep you alive

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[CarnagexD]

1 usd = 1 usd
1 bitcoin = 1 bitcoin
1 peach = 1 peach

Only one of these has extrinsic value
Only one of these will keep you alive

Individually, all of those are extrinsic. However once entered in the marketplace, one will be dominated over the market and one of its major indicators is its marketcap. Because in the market, it's all about value exchange, function, and it's limited supply. |

Say you are stuck in a lost island. Do you think a dollar or btc would have value in there? But 1 peach as a food will have. Why? Function.
In our world today, why do we invest in btc? Limited supply. Why have some dollar? Of course it's a tool for value exchange. See? those are all relative to each other. Only yourself will keep you alive.

[odolvlobo]

Here's what I think about value.

I think the subject of value is complicated. I argue that intrinsic value cannot exist because all value is subjective and intrinsic value implies the existence of objective value.

If you allow that intrinsic value exists, then all three of those things have intrinsic value. Money has intrinsic value based on its utility, and a peach has intrinsic value due to it nourishment.

Something with extrinsic value derives its value from something else. All three have extrinsic value, too. Money has extrinsic value based on what it can buy. A peach has extrinsic value because it can be used to grow more peaches.

[Ucy]

1 usd = 1 usd
1 bitcoin = 1 bitcoin
1 peach = 1 peach

Only one of these has extrinsic value
Only one of these will keep you alive

You could die of malnutrition or poverty.
You'll need a currency to exchange for things you need, even in times of crisis, or you go the old fashion way by getting as many peaches as you can to barter for things you need.

In times of crisis or scarcity, no one will want a currency that is inflationary as that could worsen the crisis. The obvious solution is with a deflationary currency that can help curtail overspending, encourages savings and productivity.
The nice thing about currency like Bitcoin is that it work best in times of crisis. It's mobile/nomad friendly, which could allow some groups of people to settle anywhere that is conducive for productivity, and to exchange what they produce with one another either with physical bitcoins without internet or virtual bitcoins via internet, possibly connected to safe and decentralized satellite system. So, I think the nomads should always move around with survival gadgets like those that allow for satellite connections. This can help them survive better than moving around the world with peaches or fiats.

[348Judah]

1 usd = 1 usd
1 bitcoin = 1 bitcoin
1 peach = 1 peach

Only one of these has extrinsic value
Only one of these will keep you alive

Definitely yes, if you look into the three items listed above, it's only bitcoin that has a future value for profitability whereby it cannot be affected by inflation, government policy or any agencies nor any centralized institution to manipulate it's value or plan out some tricks as being experienced with other form of currency exchange means, bitcoin will remain ever valuable, if you hodl fiat currency with you, it value will depreciate over time by inflation, same also it is in buying commodities.

But bitcoin has a dual application for being used as a currency and a preferred means of having an investment asset over time because you have the control of it by yourself in your custody amd don't rely on government or anyone to determines your asset value over years when you hodl bitcoin.

[Yamane_Keto]

Individually, all of those are extrinsic. However once entered in the marketplace, one will be dominated over the market and one of its major indicators is its marketcap. Because in the market, it's all about value exchange, function, and it's limited supply. |

It made me remember a video on the Internet of a user asking some people for either one dollar or one bitcoin, many chose one dollar and some just asked what is bitcoin and only people who know the value of bitcoin chose it.

What determines the value differs according to the place, for example, the US dollar is accepted globally, but you may sell your local currency for a quarter of its value if you move to another country, and the dollar for half its value if a war occurs, and so on. The value of Bitcoin comes from your ability to keep it for the longest period, when it may make a real difference in your wealth.