> Goods and services provided by humans have no intrinsic value but become precious simply there being demand by other humans.
This incorrect. I can purchase a home or food from humans and they have intrinsic value. If whatever market they were purchased on collapses, I simply live in the home and eat the food to realize their value, no further transacting required. Similarly with services I can pay for someone to build the home and harvest the food, the value is immediately realized because I can still eat, have a place to live and my time free to do other things. This is literally why the term "intrinsic" was uh, coined, to contrast these types of goods and services with things like precious metals which may have little intrinsic value.
> If whatever market they were purchased on collapses, I simply live in the home and eat the food to realize their value
If the market for food „collapses“ that means there is too much of it. Its value has gone down because your fellow humans do not want to buy any food from you anymore. Now, you can eat your own food, yes, but if you hoarded too much of it you will have to let the remainders rot away. In this extreme case the value of a good is only given by yourself. So your argument does not contradict the subjective theory of value at all.
On the day nobody cares for Bitcoin anymore, its value will go to _almost_ zero. Maybe some former Bitcoin zealots will keep the blockchain on their hard disks anyway as a memory. Then some subjective value will be left to Bitcoin even then.
I am in agreement with you precisely because I wasn't trying to contradict the original comment. I did want to correct their statement about intrinsic value because others will accept it as fact without understanding that things can be evaluated in multiple value systems at once, and their intrinsic value can be more or less independent of their market value.
This incorrect. I can purchase a home or food from humans and they have intrinsic value. If whatever market they were purchased on collapses, I simply live in the home and eat the food to realize their value, no further transacting required. Similarly with services I can pay for someone to build the home and harvest the food, the value is immediately realized because I can still eat, have a place to live and my time free to do other things. This is literally why the term "intrinsic" was uh, coined, to contrast these types of goods and services with things like precious metals which may have little intrinsic value.