If one starts a conversation about cryptocurrencies, at one point somebody will bring up the subject of tangibility. How in the world one could invest in something that they cannot touch or feel or even thoroughly understand?
While this argument takes place thousands of investments products such as futures, derivatives and equities change hands without anyone really touching them. Heck, no one really understands them since all these are nothing but promises about the future. To brake it even further, investments are nothing different that magic ball predictions. There is nothing valuable about them other than what we cumulative agree to pay for them.
Adding to the argument of intangibility of cryptocurrencies, we have tangible products such as Apple computers or Audi cars that have most of their value amplified by intangible beliefs. How can one computer be valued almost triple the value when most components and design and function is much the same (or sometimes worse)? How can one car with pretty much the same specifications as all cars have such an inflated price? The answer is simple. That fancy logo, marketing and advertising can create a different perception that can increase the value of something. What changes is the belief towards a perception about something.
When it comes to personal relationships we value trust when it comes to company contracts or personal relationships. That value though is not appreciated the same when we are the party trying to take over another partner from a rival company or when we fall in love with someone that is already in a relationship. Our perception of valued trust changes based on our personal interests.
All these values are intangible. There is nothing to touch other that basic tools we use to access these values. We can touch the hardware wallet, we can touch the keyboard and mouse, we can touch the skin of our partner or the 4 pieces of paper that is the flesh and bones of an X multi-billion corporation in Cayman islands.
What makes us human is the beliefs we carry. Religion, Commerce or Relationships are nothing but intangible ideas that we have to adhere to in order to be part of a contract (whether social or otherwise). It is on this very idea that intangible idea of Bitcoin value is based upon and in now way it is any different than anything else around us. A diamond and a charcoal are pretty much the same on the molecular level yet our perception is what gives them value.