Apparently the bitcoin market cap is over $167B. If this bubble continues as it seems likely to, it could easily go above $1T. Your barber will be asking how to get in on it. It will be a bubble of historic proportions. The following crash is going to be breathtaking.
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This all works so well because nobody has any clue what it's actually worth. People think it has value because the technology obscures its worthlessness.
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Replying to @HbdNrx
It's worth whatever people are willing to exchange in value for it.
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Replying to @HbdNrx
What do you think is so senseless about this development?
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Replying to @HbdNrx
Nothing has intrinsic value—there is only intersubjective consensual value (i.e., stuff is worth whatever people are willing to pay for it). And ₿ isn't infinitely replicable when supply is capped at 21M.
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Replying to @mfckr_
Bitcoin 2, bitcoin 3, bitcoin 4, etherium, etc etc etc
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Food has intrinsic value because it keeps me alive
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Replying to @HbdNrx
It can have practical value to you, as you rightly understand that sustenance is necessary for continued life. But it's by no means intrinsic.
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