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Print 47 comment(s) - last by EricMartello.. on Aug 23 at 1:03 AM


The latest trojan to hit the block isn't exactly subtle -- it sends your GPU on a roaring hunt for bitcoins.  (Source: Flickr)

Bitcoins could soon contend with spam generation as a botnet profitization scheme of choice.  (Source: Symantec)
Creative virus could make up to $97,000 USD a month if it can infect 100,000 machines, researchers say





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RE: Please
By The Raven on 8/19/2011 1:11:25 PM , Rating: 2
quote:
Women do not like gold or diamonds becuase they are shiny or sparkle. Those are instrinsic qualities. Women like gold becuase they are hoping to convert it to something with instrinsic value like wheat.

You are unmarried I take it ;-)
quote:
Newegg cards are no different than money.
Sorry, in my question I meant actual paper (like an 8.5x11) and not a fiat currency. The assumption was that that both USD and the giftcard were equally valueable and I didn't mean to imply that they were both worthless in the scenario. I wasn't clear on that and it was the lead up to a weak joke lol.

I think you might have the definition of intrinsic wrong the way you are railing on about it.
quote:
BTC, gold or US currency. All have no intrinsic value.

Let's put it this way:
How much is a $100 Confederate note worth today? $0+collectable value, right? (It is just a little worn piece of paper, essentially worthless.)
How about a solid gold coin worth $10 during the Civil war?
It would be the value of the gold by today's standard+collectable value.

Cancel out the collectable value and you get intrinsic value: value of gold-$0=intrinsic value
Sorry, this isn't a way to calculate what the intrinsic value is but simply an attempt to show what it means.

You make it sound like "since food is needed to survive there will always be a market for it"=intrinsic value. That is incorrect. The fact is that gold has certain properties that make it valuble. Paper notes do not. That is what intrinsic value is.

It is not the fact that gold or diamonds are in fashion that gives them their intrinsic value (which BTW have always been popular). Popularity is an external force on price. The fact that they are shiny or what have you (the actual qualities of the items) is what defines their intrinsic value.


RE: Please
By moneytalks on 8/19/2011 3:08:48 PM , Rating: 2
married :)

Try to give your wife cubic zirconium or fools gold. Both have very similar properties in that they are shiny and sparkle. See how much she likes it once she finds out they are fake.

Intrinsic value is based on the physical properties of an object. To use the example from the other thread, copper is conductive. Copper will always be conductive.

Wheat has instrinsic physical properties but these change over time and hence the intrinsic value of wheat deteriorates. BTW, beer is an attempt to extend the intrinsic value of wheat by storing calories.

Gold has intrinsic value. Gold can be used in manufacturing becuase of its physical properties. This is not why people hoard gold. They hold gold becuase they believe it is rare and that other people will perceive its value to be so high that they will trade it for useful commodities or services.

Perceived value can be based on intrinsic value or it can be completely subjective and change over time but percieved value is not instrinsic.

Diamonds were not considered that valuable even a century ago. The whole idea of a diamond engagement ring is based on a marketing program undertaken by DeBeers. This marketing program and cartel like control of the supply greatly enhanced the perceived value of diamonds. Before this program women did not expect diamonds for an engagement ring.

Women like things like diamonds or cows becuase they figure they have value that will come in handy if the man abandons them. At least this is one hypothesis. The cow may sound funny but not everyone lives in a rich industrial area.

In some cultures the cow is held by the family but considered the womens property. She can sell the milk to earn a living if the man fails to provide.

The cow has instrinsic value. Diamonds have value only as long as someone is willing to give the women a cow for her diamond. Diamonds may have instrinic value for manufacturing if the women can figure out how to use it as a tool to make other things.


RE: Please
By The Raven on 8/22/2011 11:00:49 AM , Rating: 2
Saying the same thing over and over doesn't make it right or relevant. So how does BTC or paper currency have intrinsic value? That is what this is all about. What would you rather have: gold or a dollar bill?

I mean it seems as if you are saying that everything but gold has intrinsic value since people are fools that would be just as happy with pyrite.

And furthermore (to the original topic) do you understand why BTC (theorhetically) is better than paper currency?


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