Bitcoin Has No Intrinsic Value — and That’s Great.

Conner Brown
May 8, 2019 · 10 min read

Intrinsic Value. Bitcoin skeptics love to talk about it. Their argument is typically as follows: “Bitcoin cannot be used as a money because it does not have any intrinsic value as a commodity. For something to be a viable money, it must first be accepted and used for some other commodity purpose intrinsic to the item, then slowly become a money over time. For example: because gold can be used in…