Many of those that argur against Bitcoin use the argument that Bitcoin has no “intrinsic value” and is often followed with the quip about “holding it in my hand”.
I want to attempt a mind expansion for those that succumb to those falacious arguments and ask that you go to another website to use them as a resource.
Go to http://www.coinflation.com/unitedstates/ which monitors the melt value of circulating US coins. Notice the title is “United States Circulating Coinage Intrinsic Value Table” empasis on “Intrinsic” mine). The various coins are ranked according the their value in relation to their denominational or nominal vale as listed in the far right column “Metal % of Denomination”. Notice the range extends from 217.01% to 5.59%.
Now the antagonists against Bitcoin on these grounds are comparing Bitcoin to what? Often times they are comparing it to paper currency. So what would the intrinsic value of the paper be?