My Thoughts on Bitcoin
Bitcoin Has No Value — Here’s Why
To be clear, I firmly believe that Bitcoin has no real value. The reason begins with a simple question: What exactly determines the price of Bitcoin? Gold, for example, has value due to its scarcity and its use as a consumable resource. But Bitcoin produces nothing and cannot be consumed. It is nothing more than data, relying solely on “scarcity” — just like the infamous Dutch tulip bubble.
Some may scoff at this opinion, thinking, “You don’t even understand Bitcoin.” But let me tell you clearly — it is you who doesn’t understand. The future of this market is obvious. When we evaluate value, our criteria must be simple and clear. Many people today refer to Bitcoin as “digital gold,” but it is nothing like gold. It has no physical form, it cannot be used as a consumable, and its rise over time has never been due to its intrinsic value.
Those who worship Bitcoin often say, “You need to study it,” and start talking about cryptographic currencies and blockchain. This alone proves that even they cannot define it simply. They are caught up in herd mentality, thinking, “Many people are investing, so it must still have room to grow.” They fail to recognize that this mindset is already flawed. Let me explain why.
No one knows when the crash will come or how deep it will be. Stocks are based on a company’s “intrinsic value” — something measurable through financial statements (although those shouldn’t be the sole basis for investment). A company’s value is defined by what it produces or provides. Its market price is then determined by supply and demand.
In contrast, Bitcoin has no intrinsic value whatsoever. Its price relies solely on market sentiment, forming a giant snowball that grows as it rolls downhill — until it eventually crashes into a rock. Is it rational to invest your hard-earned money into something that fragile? Absolutely not.
Some crypto investors mock legends like Warren Buffett and Charlie Munger, calling them outdated. But they never said prices wouldn’t rise — they simply don’t engage in speculation. When I read YouTube comments saying things like “Bitcoin will replace fiat because inflation is killing the dollar,” I feel nothing but disbelief. Currency value is backed by a nation’s credit. What backs Bitcoin? What institution protects it? None. Debating this is exhausting. It’s like talking to a wall.
Again, Buffett and Munger never said Bitcoin wouldn’t rise. In fact, under current conditions, there is a high possibility of a price increase. But should you invest just because it might rise? No. If you cannot define value, you should not invest — that’s a basic principle. Actually, the word shouldn’t be “invest” but rather “speculate.” It’s like putting glitter on poop and trying to sell it. I wouldn’t even want to touch that, let alone sell it.
I’m not saying people shouldn’t buy Bitcoin. My coworker once told me, “I put money in thinking I’ve already lost it.” He was fully aware that he was gambling, not investing. But many people still believe Bitcoin has a bright future and advocate for it loudly. They are no different from gamblers at a casino.
Final Thoughts
You might be wondering, “How can someone reporting on crypto be so negative about it?” That’s a fair question. But imagine a pizza chef who hates Margherita pizza — would it be wise for him to refuse to serve it? Of course not. Where there’s demand, there will be supply. I will continue to share crypto news because the interest is there. But I’ll also keep telling people the truth — that Bitcoin is less useful than dung (at least dung can be used as fertilizer).
I hope readers develop independent thinking, free from crowd psychology. That’s the only way to grow.
