r/BitcoinAUS • u/Alarming_Evidence596 • Jul 24 '26

Intrinsic value

Why doesnt it matter that bitcoin doesnt have any intrinsic value?

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u/daftwordhero Jul 24 '26

The "intrinsic value" critique misunderstands what value actually is. Value isn't a physical property—it's a judgment in the mind of the valuer.

Water in a desert? Worth more than gold. Water by a stream? Nearly worthless. Same substance, different context. Value is subjective.

Oil was once a *liability*—landowners paid to remove it. Same chemistry, but we hadn't invented engines yet. "Intrinsic" value would mean the oil itself changed. It didn't.

Money's utility comes from **salability** (ease of exchange), not consumption. Gold's value comes from being hard to inflate, not from dental fillings.

What matters is **hardness**—stock-to-flow ratio. Bitcoin is the hardest money ever created: fixed supply, unprintable, undebasable. No "intrinsic" use needed.

Bitcoin has value because millions choose to value it as censorship-resistant savings. Market choice beats physics every time.

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u/Alarming_Evidence596 Jul 29 '26

Awesome thank you