The Intrinsic Value of Bitcoin


Welcome, welcome to One Minute Crypto!
I’m your host, Chronos, and today I want to
talk about what I think gives bitcoin its
intrinsic value.
First, we should define this, because “intrinsic
value” probably means different things to
different people.
To me, intrinsic value means that the thing
is fundamentally useful for something.
For example, bananas have intrinsic value,
because they’re delicious.
But US Dollars, by this definition, do not,
because you can’t eat them, you can’t build
anything with them, you can’t even light them
on fire in a useful way.
All you can do is hope somebody else wants
them.
And if they do, the dollars have extrinsic
value.
But how is Bitcoin intrinsically useful?
Because it’s a highly portable bearer instrument.
OK, time for another definition.
A bearer instrument is something that is owned
by whoever has possession of it.
Like cash: if I have this $20 bill, it’s mine,
and if I give it to you, it’s yours.
This is much different from money in a bank
account, or shares in a company, where ownership
is determined by an authority.
But bitcoin is something more than cash, because
it’s portable.
I can’t really hand you this money, because
you’re not in the same room as me.
But I can send you bitcoin, anywhere in the
world, almost instantly.
This combination: something you can own by
controlling it, but you can instantly send
it anywhere, gives people control over their
own money in a fundamentally new way.
Never before in the history of the world have
we had something with this level of individual
empowerment.
And that’s why I think bitcoin is valuable.
I’m Chronos.
Thanks for watching!

Add a Comment

Your email address will not be published. Required fields are marked *