pDoes Bitcoin Have Value? Hi! Today from Black Forest.
Today we will talk about whether Bitcoin has a value at all. See you in the next part and you will find out! Does Bitcoin have a value? To answer this question you need to understand what value is. Objects and things dont have value in themselves.
Value is something that we humans give to the things objects. We value things. We give them value and value gives them price. If we are willing to pay money for somethiing it means something has value.
And important thing to understand is that there is no objective value. Different things have different value to different people and even the same thing can have different value to the same person depending on the situation Depending on the time. Of course, the famous example is glass of water has different value for you when you are stuffed after a meal And it has the different value when you are starvingonthe desert. But generally, lets consider different examples.
Lets take food. Food generally has a value for everybody. Everybody needs food and everybody values food.
Of course, different food vary for different people. If you like something, you value it higher. If you dont like something, you dont value that that much.
But certainly if you didnt have any other choice you would need that type of food as well if you were forced to, if you had no other choice And you would even pay for that food if you had no other choice to feed yourself. So, food generally has value to everybody. Then there are things that have usage value. Tools or something that you can use and that have value for you Because you can use them, like a car has a value also because you can drive somewhere to get somewhere.
So, these objects and things have value by the usage they offer to you, by the function they offer to you But the value of objects doesnt need to be of that type, of a usage type or of a consumption type that you can eat it up Of course, a shelter, a clothing has a value because you can use it to satisfy your existential needs. But there are other needs that can be satisfied and they dont need to be of a phisical nature, of lets say lifeanddeath nature. If you take for example art. Art can have no value for somebody, if he doesnt appreciate art.
It can be a worthless piece of paper. And for other people it can have a value of millions of dolars and they are able and willing to pay millions of dollars for that piece of art. So, it is very subjective.
Or take your personal pictures. They have completely different value for you and for other people. And this isnt just a symbolic value. Youe really willing to pay for that.
Imagine a situation where you have all your personal pictures from all your life On your computer or pendrive. Lets say pendrive, because pendrives dont cost money. Lets say you have all your pictures of your life on your pendrive that cost, lets say, 10 dollars. Lets say this pendrive gets broken. How much are you willing to pay to somebody who can repair that pendrive to bring you back all pictures that you have You dont have any backup.
I am sure you are willing to pay more than 10 dollars. Some people may be willing to pay 100 dollars, some people 1000 dollars Some people may be even willing to pay 10, 000 or even hundreds of thousands of dollars to get these memories of their life back. To get these pictures back.
So, these pictures have completely different value to you compared to somebody who doesnt know you This person wouldnt pay anything to get these pictures or to restore this pendrive. And now coming back to Bitcoin. This is similar thing. Bitcoin apparently has value, because people are willing to pay money for that.
Of course, it has some functional value as a transit of money, international remittence, whatever. There may be some functions of Bitcoin that are valuable to some people and arent to other people. If there is a person who just deals or trades with people aruond him in his small community, in his own country Does he really need Bitcoin? I doubt it. But for some other people it has some value and apparently it has enough value for people to pay thousands of dollars For 1 Bitcoin.
So, this answers the question if Bitcoin has a value. If it didnt have a value, nobody would be paying for that. And there is nothing like an intrinsic value in anything. And now I read in comments and email that some people say that gold has much more value than Bitcoin Because Gold has so many usages in industry, economy and in different areas of life, in electronics. So there are hundreds of usages of gold and thats why gold has more value than Bitcoin.
But the number of usages doesnt really impact the value or especially the price of a good. If you take this argument, you could argue that for example iron, steel, aluminum or copper have much more usages than gold in industry. Look around you and you see everywhere there is iron, steel, aluminum.
There are thousands of usage scenarios where these metals are used. But nevertheless gold has higher price than these metals. So, you see that the number of usages doesnt impact the value of a special good, product, object At least it doesnt impact it immedietaly. So, I hope you liked this article.
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About the selfmade billionaires. How they think and act. So, if you liked this article, you will certainly like my other articles. I invite you to watch them.
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