Are your account on this site real? are this site real? are the server this site is hosted on real? Are digital photos you snap with your camera real? Are money in your bank account real?
See how this works, I'd say that data is real. We live in a digital world and most of our lives are stored digitally, that's inevitable.
So what about cryptocurrency then? well, it's stored on a blockchain, which is a distributed database synced across at least 11 000 nodes spread across the world and verified by the miners. It's literally data with +11 000 backup copies.
That's as real as it can get in digital terms, and the chance of all those nodes collapsing at the same time is less than you losing your gold in some way, maybe by a fire or a boating accident. Your gold only exist in one place a the time, crypto is everywhere. Remember that.
Gold has no intrinsic value, other than limited uses for electronics. It's only valuable because of scarcity and a shared understanding from ancient times that this metal is shiny and doesn't corrode, so let's make jewelry and coins from it.
Why are diamonds valuable, when they are not really rare? Ask the DeBeers family.
In finance, intrinsic value of an asset usually refers to a value calculated on simplified assumptions. For example the intrinsic value of an option is based on the current market value of the underlying instrument, ignoring the possibility of future fluctuations and the time value of money.
Intrinsic value, according to early results on duckduckgo. That's a wide definition, could you elaborate as to why gold and silver has this property but not cryptocurrency?
I know the meaning of intrinsic value, but I don't get why that's an important property of a currency. Just because you can touch something doesn't means you're safe from being scammed by some scheme that just happens to be printed on paper instead of being online only.
Define intrinsic then...
Are your account on this site real? are this site real? are the server this site is hosted on real? Are digital photos you snap with your camera real? Are money in your bank account real?
See how this works, I'd say that data is real. We live in a digital world and most of our lives are stored digitally, that's inevitable.
So what about cryptocurrency then? well, it's stored on a blockchain, which is a distributed database synced across at least 11 000 nodes spread across the world and verified by the miners. It's literally data with +11 000 backup copies.
That's as real as it can get in digital terms, and the chance of all those nodes collapsing at the same time is less than you losing your gold in some way, maybe by a fire or a boating accident. Your gold only exist in one place a the time, crypto is everywhere. Remember that.
You decided you type that out instead of Googling the definition of intrinsic? lol
Gold has no intrinsic value, other than limited uses for electronics. It's only valuable because of scarcity and a shared understanding from ancient times that this metal is shiny and doesn't corrode, so let's make jewelry and coins from it.
Why are diamonds valuable, when they are not really rare? Ask the DeBeers family.
You: Gold has no intrinsic value except for its intrinsic value.
I don't think that word means what you think it means.
Intrinsic value, according to early results on duckduckgo. That's a wide definition, could you elaborate as to why gold and silver has this property but not cryptocurrency?
I know the meaning of intrinsic value, but I don't get why that's an important property of a currency. Just because you can touch something doesn't means you're safe from being scammed by some scheme that just happens to be printed on paper instead of being online only.
You dont know shit