Culturegoldvalue of bitcoin

It’s Time To Rethink The “Intrinsic Value” Of Bitcoin

The criticism that bitcoin has no “intrinsic value” is a misunderstanding of the very term. In fact, Bitcoin is intrinsic value.“Bitcoin has no intrinsic value.” This frequently heard criticism is, for Bitcoin’s critics, the ultimate kill shot — the irrevocable proof that, at its most fundamental core, Bitcoin is nothing but a worthless fraud. “It’s just code” was the line repeated in doom tones on a recent episode of the terribly misinformed Dave Ramsey’s show. Gold advocate Peter Schiff, perhaps the most repetitively vocal critic of Bitcoin, may not recognize the value of remembering your passwords, but he’s certain that bitcoin has no intrinsic value.Before we delve into what gold bugs such as Schiff mean when they invoke the term “intrinsic value,” and why I think they’re looking in the wrong place, I’d like to acknowledge that they at least have a moral argument as to a basis of value for their preferred money. This is infinitely better than the arguments of fiat supporters such as Paul Krugman, who wrote “…fiat currencies have underlying value because men with guns say they do.” Thus did the man, who many would tell you is America’s preeminent public intellectual in the field of economics, argue for his preferred currency under threat of murder. Lovely. But Krugman and his Keynesian fellow travelers will soon be reminded that reality operates on reality’s terms. The Traditional ArgumentFor purposes of this essay, we’ll examine the traditional concept …
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SkyBridge Capital’s Anthony Scaramucci Compares Bitcoin to Amazon Stock

Although BTC has surged to about $60,000 and its market cap is well above $1 trillion, SkyBridge Capital’s Anthony Scaramucci envisions even further price increases. He compared the asset’s performance to Amazon’s stock and doubled-down on his belief that bitcoin…

Pakistan To Build Two Mining Farms As Government Looks To Participate In Bull Run Directly

A government minister overseeing new cryptocurrency policy in Pakistan said that a local province will build two hydroelectric mining farms.According to a report from Reuters, Pakistan’s Khyber Pakhtunkhwa province is planning to build two hydroelectric-powered pilot cryptocurrency mining farms. Though…
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Looking Forward To Bear Arms N’ Bitcoin

On this episode of the “Bitcoin Magazine Podcast,” Ragnar Lifthrasir discussed his upcoming event, Bear Arms N’ Bitcoin.Watch This Episode On YouTubeListen To This Episode:AppleSpotifyGoogleLibsynOvercastOn this episode of the “Bitcoin Magazine Podcast,” host Joe Rodgers sat down with Ragnar Lifthrasir…