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0 pointsbuboard6y ago0 comments

E-gold was a scam IIRC, while libra's assets :

> the assets in the Libra Reserve will be held by a geographically distributed network of custodians with investment-grade credit rating to provide both security and decentralization of the assets.

And BTC is not backed by anything, it has intrinsic value now so it's wrong to call it a scam.

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6 comments · 1 top-level

benj1116y ago· 5 in thread

What is the intrinsic value of btc?

I can't eat it, use it to heat my house. It has value, most of it isn't intrinsic though.

Wowfunhappy6y ago

Can you do any of those things with gold?

teknopaul6y ago

You can move it illegaly more easily than cash.

buboardOP6y ago

u can convert it to USD, so it must have some value or else people wouldn't buy it

Yes it has value you can trade a bitcoin for $5k/$10k/$20k whatever the exchange rate is at this moment. That isn't intrinsic value though.

From Wikipedia: "In finance, intrinsic value refers to the value of a company, stock, currency or product determined through fundamental analysis without reference to its market value."

https://en.m.wikipedia.org/wiki/Intrinsic_value_(finance)

buboardOP6y ago

alright my bad. i meant some value that is not tied to an underlying asset. But equating it with a scam like e-gold is not valid either. (and no currency or investment commodity has value that is anywhere near its intrinsic value)

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