Pretty disappointed in this statement from Greenspan:
“It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.”
All money has no intrinsic value, including gold. Things have value because other people want them. That's it. People want bitcoin, then it has value.
Pretty much the only thing with intrinsic value is food since people don't want it, they require it.
Everything else has value because people say it has value.
“It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.”
All money has no intrinsic value, including gold. Things have value because other people want them. That's it. People want bitcoin, then it has value.
Pretty much the only thing with intrinsic value is food since people don't want it, they require it.
Everything else has value because people say it has value.