Since the big boom of bitcoin you hear it more often: „Bitcoin has no real value and soon the price will be 0$.“
Another example how the state keeps his sheeps uninformed and uneducated in economics...
If you ever have to argue with someone about this, here are some easy steps how to win the discussion and convince the other person:
What is value?
Value is a subjective attribute of a certain thing. For example: A thirsty man values a glass of water much higher than a man sitting at a bar.
Does any kind of money have value?
First of all, what is money? Money can be different things, that have the following attributes:
intrinsic value
fissility
easy to transport/trade
and the most important thing: Someone has to accept it as money!
To go back to the question, if any money has value? It depends!
If you go to a store in Munich and you‘d like to pay with Yen for example, they probably won’t accept it. Because the value they assign to Yen is not the same you do. So Yen has less value in most of european stores.
Even with gold. If your trade partner doesn’t want gold it’s worthless at this moment! With bitcoin it’s the same!
But when more companies start accepting bitcoin every person will value it subjectively more, because they have more opportunities to get something for it that they need.
To sum it up: No money has real value, because you can’t eat it in the end. It’s just something to save value and later satisfy your real needs with it!
I hope my thoughts help you guys to convince your discussion partners a lot easier.
If you have any more questions or if you think I got something wrong, please let me know ;)
