Ethereum has value, Bitcoin not - says Sopnendu Mohanty
In an interview with the Daily Telegraph (to which I have no access), Sopnendu Mohanty, the Fintech chief for Singapore’s Monetary Authority (MAS) declared:
“Bitcoin has no natural intrinsic value. Can you buy a house with it? Can you use it for daily interactions? It may be valued at $18,000 right now but what I want to know is how you convert it into fiat currency and realize that value. The risk comes at the moment of conversion".
I am not sure what he means by 'natural intrinsic value'. From his explanations I deduce he meant 'utility'. But then, you could ask yourself the same question about Gold. You normally can't buy a house or use if for daily interactions - you'll have to convert it to a generally accepted currency first, as you have to with Bitcoins.
He was probably speaking about the comparison of the general utility of the technologies underlying Bitcoin and Ethereum, which are quite different. There indeed, Bitcoin is limited to being a means of exchange (call it currency, if you want), whereas Ethereum is much more versatile and can be used as a framework for creating other assets. Therefore, for businesses, Ethereum is the better choice and has more 'natural intrinsic value'.
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