Bitcoins - any INHERENT value?

So do these things have any inherent value?  I was reading, and it seems that when they first came out they might have had some inherent value as the only or one of the only way you could buy something over the internet without being traced, duped, etc.

But now there are tons and tons of competitors, all with the same features.  

So is there any inherent value to a Bitcoin anymore?  I mean paying $1 to acquire a bitcoin that can buy you $1 worth of merchandise or services online?  Seems to me if anyone holding a bitcoin tried to ask for more, the buyer should just be like fuck it, I'm going with one of these other alternatives.

Without inherent value, seems to me the price is doomed to plummet at some point.

Thanks.

No.

And to tie this in to MMA so it's not WFA, when Jon Fitch (I believe it was Fitch) got paid in bitcoins for one of his fight, I said it should count as an amateur fight because he didn't get paid a cent.

In the right place, it might have some value. It's pretty much worthless in the WFA, though. 

Many online vendors accept them as payment. But honestly, their biggest value comes from trading.

If you live in a country with strict capital controls and you can use BTC to get your money out?  Sure, that is valuable.  Smuggling gold up your @$$ doesn't work as well any more these days.

Of course it has inherent value, it's a piece of revolutionary technology

Homeslice -


So do these things have any inherent value?  I was reading, and it seems that when they first came out they might have had some inherent value as the only or one of the only way you could buy something over the internet without being traced, duped, etc.



But now there are tons and tons of competitors, all with the same features.  



So is there any inherent value to a Bitcoin anymore?  I mean paying $1 to acquire a bitcoin that can buy you $1 worth of merchandise or services online?  Seems to me if anyone holding a bitcoin tried to ask for more, the buyer should just be like fuck it, I'm going with one of these other alternatives.



Without inherent value, seems to me the price is doomed to plummet at some point.



Thanks.

No intrinsic value but still better than fiat.

Takes more energy to mine one bitcoin than it does to mine and refine an oz of gold

People who are much smarter than you and me are saying the exact same thing. Ride the wave and be ready to get out at a moments notice.

No form of currency, save precious metals, has any intrinsic value.

I say their value is in the fact that it cost about 1k to mine 1 coin and they are relatively rare. They are also good for big purchases arpund the world. I dont think they are work 10k though, maybe 5k imo.

Things with intrinsic value:

commodities

goods

labor

 

things without intrinsic value:

everything else

Absolutely 0. Paper money has almost no intrinsic value, either. Shit, gold has some intrinsic value, but not much at all.

ABCTT_HeHitsMeBecauseHeLovesMe - Absolutely 0. Paper money has almost no intrinsic value, either. Shit, gold has some intrinsic value, but not much at all.
except that paper money is backed by a government that has the ability to tax and raise revenue off of the GDP of the country it governs.

bitcoin price is set PURELY by demand. IF the people were to completely replace all currency it would be completely stable and ts price would change with the change in global gdp.

ABCTT_HeHitsMeBecauseHeLovesMe - Absolutely 0. Paper money has almost no intrinsic value, either. Shit, gold has some intrinsic value, but not much at all.

Right, because if you give  a girl a gold ring, or gold earrings, or gold necklace, not like they will give you anything in exchange...

evil veiled -
ABCTT_HeHitsMeBecauseHeLovesMe - Absolutely 0. Paper money has almost no intrinsic value, either. Shit, gold has some intrinsic value, but not much at all.

Right, because if you give  a girl a gold ring, or gold earrings, or gold necklace, not like they will give you anything in exchange...

They only care about a gold necklace, because of it's market value. Otherwise, why is it different than a copper necklace, they could look almost identical.

Same with diamonds. Women only care about them, because of their market value. Otherwise, none of them would care if you put a fake diamond on their wedding ring.

Homeslice - 


So do these things have any inherent value?  I was reading, and it seems that when they first came out they might have had some inherent value as the only or one of the only way you could buy something over the internet without being traced, duped, etc.



But now there are tons and tons of competitors, all with the same features.  



So is there any inherent value to a Bitcoin anymore?  I mean paying $1 to acquire a bitcoin that can buy you $1 worth of merchandise or services online?  Seems to me if anyone holding a bitcoin tried to ask for more, the buyer should just be like fuck it, I'm going with one of these other alternatives.



Without inherent value, seems to me the price is doomed to plummet at some point.



Thanks.


Nothing has inherent value, particularly money.


Things have value because the market will give you something for it.

EFM -
ABCTT_HeHitsMeBecauseHeLovesMe - Absolutely 0. Paper money has almost no intrinsic value, either. Shit, gold has some intrinsic value, but not much at all.
except that paper money is backed by a government that has the ability to tax and raise revenue off of the GDP of the country it governs.

bitcoin price is set PURELY by demand. IF the people were to completely replace all currency it would be completely stable and ts price would change with the change in global gdp.
I agree with you, completely.

Very little intrinsic value since it doesn't physically exist - it's not a liquid currency. You have to pay fees just to use most cryptocurrencies. That's an inherent cost in my book.

They add intrinsic value to the "fiat currencies" technically, from a risk and security valuation.

EFM -
ABCTT_HeHitsMeBecauseHeLovesMe - Absolutely 0. Paper money has almost no intrinsic value, either. Shit, gold has some intrinsic value, but not much at all.
except that paper money is backed by a government that has the ability to tax and raise revenue off of the GDP of the country it governs.

bitcoin price is set PURELY by demand. IF the people were to completely replace all currency it would be completely stable and ts price would change with the change in global gdp.

“Backed” by governments that have proven time and time again to inflate fiat currencies into nothingness.

It’s written into Bitcoin’s code that there will only every be 21 million coins ever.

 

Those two things are important components in what people put their confidence into.