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Comment by etanazir | Hacker News Reader

Does this type of currency have any intrinsic value?

Yes, it's intrinsically useful. See https://en.bitcoin.it/wiki/FAQ#Where_does_the_value_of_Bitco... for a longer reply.

So the answer to "is Bitcoin useful" is "Bitcoins have value because they are useful"? You need a better link to make that point.

Um, no, his question was not "is bitcoin useful" but "does it have any intrinsic value"...

Actually, the question wasn't "does bitcoin have any intrinsic value" it was "does this type of currency have intrinsic value" in response to an article that was, nominally, about the US dollar.

No serious investor questions the intrinsic value of Bitcoin; but currency with an infinite supply is very curious. Particularly a 'closed book' currency where the creators can apportion themselves unlimited amounts and users would be unaware.

Useful only to those who have faith in the powers that manipulate it. Same could be said for bitcoin.

Hm, do you mean etanazir was asking about the USD? Then I might have misread the comment.

Edit: Btw, the USD is mostly has value because it's being used (useful), so yes, that's what currencies have going for them. The USD just has it so much easier as it's backed by a government.

I thought etanazir was being facetious, my bad. I guess I underestimated how many people can keep asking the same stupid question that assumes the dollar has intrinsic value while bitcoin does not. Usefulness is in the eye of the beholder.

If these people keep running around with blindfolds on, it might be time to put up some bumper walls.

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