Does Bitcoin’s
Utility Give it its value?
As the bitcoin exchange market becomes something much
more accessible to the public after being a thing that alienated most people,
the more people are wondering about the origin of Bitcoin's intimidatingly high
valuation that has governments welcoming it into its economies after their
populations adopt it; best exemplified by the market of bitcoin exchange in
India, where people use their preferred option of the best bitcoin exchange in
India to sell Bitcoin in India.
For example, New York Times writer Paul Krugman has
said “To become successful, currency has to be both a ways of exchange and a reliably
stable store of value. Yet it’s uncertain why Bitcoin should be a reliable
store of value,” Krugman writes. “I have had and am continuing to have a
dialogue with smart technologists who are very high on Bitcoin – but asked to
explain Bitcoin as a reliable store of value, they only answer with ravings about
how Bitcoin is a great exchange method. Even if I buy this (which I don’t,
entirely), it doesn’t solve my problem.”
Krugman is far from being alone on this, and,
actually, many people reckon that it is Bitcoin's utility to be the origin of
its intrinsic value. A very sensible conclusion to come to after going down
that rabbit hole of pondering, given that many things have an intrinsic value
that depends upon its own utility, and that includes the classic backer of the
dollar, gold.
There are even writers that take the angle of
proclaiming that Bitcoin's one and only intrinsic value lies isolated in its
utility. John Kelleher, a freelance web developer has written for Investopedia
and said "Bitcoin’s utility as a store of value is dependent on its
utility as a medium of exchange. This is based on the premise that in order for
an asset to be a valid store of value it must have a perceived quality of
intrinsic value, and bitcoin could have no practical utility and therefore no
intrinsic value, making it unappealing as a store of value; this is speculating
on the assumption that Bitcoin doesn’t manage to be successful as a medium of
exchange.
When I thought about the way things have been recently, i owe my thanks to God for letting me find this amazing personality, i mailed Mr. alex roughly 2 months now, I was actually very uncertain about investing, very scared because i was also low on cash.I gave it my all, my first investment of $2,000 two weeks ago brought me $ 29,230 last week, and what intrigues me the most is the way him handles he partners, i recommend him too to my friend jeff, after trading with him, his testimonies have let me come here to attest for him. We are happy to meet a professional in you. I am proud to recommend him to any person who has a passion for trading, meet a good mentor and get good fortunes.Contact this veteran at: totalinvestmentcompany@gmail.com
ReplyDeleteWhen I thought about the way things have been recently, i owe my thanks to God for letting me find this amazing personality, i mailed Mr. alex roughly 2 months now, I was actually very uncertain about investing, very scared because i was also low on cash.I gave it my all, my first investment of $2,000 two weeks ago brought me $ 29,230 last week, and what intrigues me the most is the way him handles he partners, i recommend him too to my friend jeff, after trading with him, his testimonies have let me come here to attest for him. We are happy to meet a professional in you. I am proud to recommend him to any person who has a passion for trading, meet a good mentor and get good fortunes.Contact this veteran at: totalinvestmentcompany@gmail.com
ReplyDelete