The cryptocurrency Bitcoin is perhaps the most famous of its kind. It is being heralded as the future of currency and economics: blockchain technology makes Bitcoin secure, thus giving it a value. It is hugely appealing for those who wish to take back control of the money supply from seemingly unscrupulous governments and banks.
However, Bitcoin has a potential flaw: it is not based on any country’s economy, and thus has no true underlying value. It is intangible and exclusively technology-based.
This debate therefore considers: is Bitcoin’s worth entirely speculative, or does it have intrinsic value that makes it worthwhile?