Please describe the intrinsic value of Bitcoin.
Some might say, that the bible hold great value for humankind others might disagree
Money has great inherent value because it
communicates ideas and assets more efficiently than a barter system which is an inherently very useful tool for mankind. Goldbugs will often praise gold as having "inherent value" because you can melt it down and create gold fillings and use it in semiconductors if needed but what they fail to clarify is that this value represents only a couple hundred for its utility and most of it is perceived value because its history and rarity.
bitcoin just like a dollar bill has no intrinsic value in a vacuum. What gives USD value is the trust of billions of people, acceptance of millions of merchants, store of value, its scarcity, its divisibility, security, frictionless utility, stability, and its fungibility.
What gives Bitcoin value is many of the same principles of fiat-
1) Fungibility - Bitcoin is equal to Fiat, better than gold
2) Divisibility - Much better than fiat and gold
3) Scarcity - Much better than Fiat and gold (One could find a new gold mine here or on an asteroid)
4) Trust of userbase - Fiat and Gold are much better than Bitcoin here
5) frictionless utility - Bitcoin is better than Fiat , and much better than gold
6) Security - Bitcoin is better than Fiat for technical people, worse for luddites (for now) and better than gold
7) Merchant acceptance - Bitcoin is far better than gold , and worse than USD fiat worldwide, but better than many other smaller fiat currencies worldwide at the moment.
08) stability - gold is slightly better than bitcoin , USD/Euro Fiat is much more stable than bitcoin
09) Store of value - Too early to tell, but Bitcoin thus far has been a better much better investment than gold and the USD. I.E... USD has lost 99.9997% n value against Bitcoin in the last 5 years and 98.9% in te last 2 years.
