Does Cryptocurrency Have Intrinsic Value
It is a purely speculative asseta private fiat currencywhose value is whatever the markets say it is. But bitcoin is also a socially wasteful speculative asset because it is expensive to produce. Sec Should Keep Rejecting All Bitcoin Etf Proposals At Least For Now Cryptocurrency Bitcoin Bitcoin Transaction It never did and never will. Does cryptocurrency have intrinsic value . This is why decentralized cryptocurrencies are a welcome addition to the existing currency system the report notes. Bitcoin has no intrinsic value at all. Can blockchain exist without cryptocurrency. Intrinsic value is defined as an investors perception of the assets value so whether Bitcoin does or does not have it depends entirely on the perspective of the prospective investor. A few years ago when digital currency was just rising in value Paul Krugman asked this question in a blog post titled Bitcoin is Evil He wrote to be successful money must be both a medium of exchange and a reasonably stable ...