"Bitcoin Has NO Intrinsic Value!"
"Bitcoin Has NO Intrinsic Value!" This is what my wealthy friend recently said to me. He has yet to purchase any cryptocurrencies even though I have been telling him to buy BTC since it was at $5K (2 whole months ago!).
Please explain to me what the intrinsic value of the US dollar is other than forced mass adoption. The petrodollar has forced the entire world to hold US dollars to pay for oil (this is about to collapse BTW). Mass adoption is the only "intrinsic value" any currency has. Just like the Japanese Yen and Canadian Dollar are worthless in Belize because the Belizeans have not adopted them as currency. Oh, did you notice...bitcoin is at the beginning of mass adoption?
Bitcoin Intrinsic Values:
- I can carry $10M in my pocket, go through an airport, travel anywhere in the world. Try that with fiat currency and it'll be confiscated at best or you'll be arrested at worse.
- I can send $10M to my friend in China within seconds for almost nothing.
- It can't be inflated like every single other fiat has been since governments began printing money.
- Bitcoin eliminates the need for banks. You can literally store all of your wealth in your head via a code.
- Bitcoin eliminates the need for CENTRAL banks. These are the biggest criminals in history.
- Bitcoin is masterfully designed code run using incredibly difficult math.
These are just off the top of my head...I'm sure there are many more.
Please comment with any other intrinsic values I missed or let me know why any of these listed are wrong.
There's no point trying to convince anyone... if it goes down in value after they buy it, even for a short while, they'll probably blame you! :-(
If people hold bitcoin then I think it will work. But people are trying to make money over it and a lot of trading is happening thus causing volatility. So, I don't think holding will be an option here. This is my opinion. But there must be reasons to hold. What do you think they are?
I believe in the technology more than the currency itself. blockchain is here to stay, bitcoin or ether can go up and down but blockchain is getting mass approval. i see bank buildings around and see how much of our money goes into it. they make more from us than we from them. they are like a mafia
I am more a fan of ethereum than of bitcoin.
Congratulations @belizeguy67! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP