Oddbean new post about | logout
 Many, otherwise smart, people still don't understand that there is no such thing as "intrinsic value." All value is subjective and is imputed by the observer. People value things for all kinds of reasons and it doesn't have to make sense to anybody else.
nostr:nevent1qqsxc6t9sw2hd3lmve42w3qhqk5eg2z3jxkujnmapq7zlxpcgxfpv5qpr3mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmqzyqtys4ejrfasuaqruz83hmuqjeav4yu9l00qfdca5tjyqyyz84r26qcyqqqqqqgkeufl5 
 The article stated out so well and then fell off a cliff when he started talking about bitcoin needing to be linked to a "real" asset.