Another Way To Think About Bitcoin’s Value

Dr. Rettler is an assistant professor of Philosophy at the University of Wyoming.

In this essay, I want to clarify and respond to a prevalent assertion regarding bitcoin — that “bitcoin has no intrinsic value.” Two preliminary things to note. First, this is not used merely as a normatively neutral descriptive statement; it’s stated as a criticism. It usually appears in the following kind of argument, often with premises elided: it’s bad to lack intrinsic value. Bitcoin lacks intrinsic value. So bitcoin is bad. Or maybe: it’s not worth investing in things that lack intrinsic value. Bitcoin lacks intrinsic value. So, it’s not worth investing in bitcoin.



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