It’s a hypothetical, where the whole world has gone mad except you. Nobody buys. So it has a price you would purchase at, but $0 sale value to you as there are no other buyers. The true value of an asset is separate from the price (which is $0 in this case as you can’t sell it)
A thought experiment to show the difference between price and value. Bitcoin currently has a price. No actual intrinsic value other than the hope of value in the future.
I think it does have intrinsic value - that value lies in allowing some people, in some areas, to circumvent tracking or avoid authorities. To those people, BTC brings value which cannot be had elsewhere. My personal belief is that this is what fuels BTC's value, and the rest is speculation (but then it's similar to stocks).
I don't think that whether it has this property (and value) is in question - the question is how much of BTC's price is fueled by that value.
graeme|6 years ago
A thought experiment to show the difference between price and value. Bitcoin currently has a price. No actual intrinsic value other than the hope of value in the future.
orisho|6 years ago
I don't think that whether it has this property (and value) is in question - the question is how much of BTC's price is fueled by that value.