"Owning bitcoin is often put in contrast to owning stock in a company that produces a good or service. In virtue of the company producing a good or service and receiving money for the good or service, stock in that company is said to have intrinsic value. Methods of calculation of the intrinsic value of a stock usually involve calculating the value of the assets the company has and/or the expected future earnings. Bitcoin is not a company and produces no goods or services — so it lacks intrinsic value. So goes the criticism." - Bradley Rettler
Why is it so difficult for people to wrap their heads around the idea of Bitcoin's value? Its always met with criticisms like "but it doesn't have intrinsic value," or "but its not backed by anything." In this context, what does intrinsic value even mean, and does Bitcoin have any of it? Dr. Bradley Rettler brings us a great breakdown at Bitcoin Magazine on the philosophy of value & what, if anything, actually has intrinsic value at all.
Another Way to Think About Bitcoin's Value:
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