>If we look at bitcoin for what it is (the technology and theory behind it), it hasn't lost any real value.
The question should be: Does it have any value in the first place? It is essentially a really cool monopoly money system. Bitcoin is taking pokemon cards.
A bitcoin is essentially a fancy cell on a very secure distributed excel file. Great, but that doesn't mean it will be currency.
>underlying value do not rely on public opinion
Oh very much so. A bitcoin's value is 100% based on what the public values it at.
> A bitcoin's value is 100% based on what the public values it at.
So just like any other currency and commodity then? Intrinsic value doesn't exist. Everything is relative to where you are and what you're trying to achieve.
The question should be: Does it have any value in the first place? It is essentially a really cool monopoly money system. Bitcoin is taking pokemon cards.
A bitcoin is essentially a fancy cell on a very secure distributed excel file. Great, but that doesn't mean it will be currency.
>underlying value do not rely on public opinion
Oh very much so. A bitcoin's value is 100% based on what the public values it at.