Do Crypto currencies have no intrinsic value?

In an interview, certain rich person is claiming, or implying, that Crypto currencies have no "intrinsic value" ( link http://ift.tt/2h3PF86 ).

  1. Crypto currency is one thing, the tech, the Blockchain another. So let us first correct these people and assume that they mean "blockchain has no intrinsic value".
  2. Blockchain has intrinsic value. 2.1. at least as much as mining costs, 2.2. The idea behind blockchain is one of the most fascinating applied computer scientific work. 99.9% of people do not even understand how big the science behind the new discovery is (forget understanding the science). Now if one of the best product of human brain has no intrinsic value, what does have intrinsic value? Those companies producing shiny shrinking transparent panties marked with names of rich corrupt families selling each one panty for 1000x what they pay those poor children in other corner of the world working in their factories? This dear billionaire can ignore these and even agree with us but he should clarify what actually "intrinsic value" means for him, then we discuss. 2.3. It is established in economical science that value of a product is exactly what market pays for it. At least in a semi to full free market economy. 2.4. Does he mean "real use" by "value"? I do not know, but here are the points: Ethereum has real use (small ones) and is going real and big (EEA). If the practical use is meant, then what is the actual and essential use of gold and platinum? Nothing essential really.
  3. Last but not least: Let us take him right. Even, even, even if I as an investor and trader am making a bunch of people creating e.g Ethereum very rich and they disappear, I am not dead angry because those computer scientist with real top product of human brains stole my money AND not those who are not even among 90% of human population in terms of intelligence.
submitted by /u/Cryptoiscoming
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