Expand use value

This commit is contained in:
sdiehl 2022-03-22 07:55:09 +00:00
parent 6de82efc33
commit 32a4e62546
3 changed files with 25 additions and 5 deletions

View File

@ -31,4 +31,13 @@ Dogecoin is a [non-productive](productive-asset.md) investment.
Dogecoin has a negative [expected return](expected-return.md).
Dogecoin is based on the [consensus algorithm](consensus-algorithm.md) known as Proof of Work [mining](mining.md).
Dogecoin is based on the [consensus algorithm](consensus-algorithm.md) known as Proof of Work [mining](mining.md).
## References
1. Warzel, Charlie. 2021. The Absurdity Is the Point. Substack newsletter. Galaxy Brain (blog). 11 May 2021. https://warzel.substack.com/p/the-absurdity-is-the-point.
1. Gerard, David. n.d. Confused About Dogecoin? Heres How It (Doesnt) Work. Foreign Policy (blog). Accessed 3 March 2022. https://foreignpolicy.com/2021/02/11/dogecoin-how-does-it-work-elon-musk-cryptocurrency/.
1. Maddox, Alexia, and Luke J Heemsbergen. 2021. Digging in Crypto-Communities Future-Making: From Dark to Doge. M/C Journal 24 (2 SE-). https://doi.org/10.5204/mcj.2755.
1. Becker, Moritz. 2019. Blockchain and the Promise (s) of Decentralisation: A Sociological Investigation of the Sociotechnical Imaginaries of Blockchain. In Proceedings of the STS Conference Graz 2019, 630. https://doi.org/10.3217/978-3-85125-668-0-02.
1. Groos, Jan. 2021. Crypto Politics: Notes on Sociotechnical Imaginaries of Governance in Blockchain Based Technologies. In Data Loam, 1:14870. https://doi.org/10.1515/9783110697841-009.
1. Lustig, Caitlin. 2019. Intersecting Imaginaries: Visions of Decentralized Autonomous Systems. Proceedings of the ACM on Human-Computer Interaction 3 (CSCW). https://doi.org/10.1145/3359312.
1. West, Sarah Myers. 2018. Cryptographic Imaginaries and the Networked Public. Internet Policy Review 7 (2): 116. https://doi.org/10.14763/2018.2.792.

View File

@ -1,4 +1,15 @@
# Use Value
*Use value* or *intrinsic value* is a feature of an asset which can satisfy some human requirement, want or need, or which serves a useful purpose.
*Use value* or *intrinsic value* is a feature of an asset which can satisfy some human requirement, want or need, or which serves a useful purpose. It is an [asset](assets.md) whose demand curve is generated by organic economic activity rather than by [artificial demand](artificial-demand.md) or [narrative economics](narrative-economics.md).
For example the use value of wheat is the ability to produce flour and bread which can provide sustenance and satisfy human hunger and need for sustenance.
An example of a [commodity](commodity.md) with use value of wheat is the ability to produce flour and bread which can provide sustenance and satisfy human hunger and need for sustenance. The use value of petrol is the capacity to burn it to produce energy.
An example of a financial product with no use value is a [stock](stock.md). Instead its [market value](market.md) is derived from its [fundamental value](fundamental-value.md) which originates from both the [legal framework](security.md) that gives rise to its existence and whose demand is generated from its exposure to [income-cashflows](income-cashflows.md).
A historical pathological example of a [ficticious commodity](ficticious-commodity.md), with both no use value and no [fundamental-value](fundamental-value.md), would be [indulgences](https://en.wikipedia.org/wiki/Indulgence) sold by the medieval Catholic church.
## References
1. Shri T Rabi Sankar. n.d. Cryptocurrencies An Assessment. Reserve Bank of India. Accessed 2 March 2022. https://rbi.org.in/Scripts/BS_SpeechesView.aspx?Id=1196.
1. Silverman, Gary. 2021. Crypto Has “No Inherent Worth” But Is Good to Trade, Says Man Group Chief. Financial Times, 26 July 2021. https://www.ft.com/content/9275baf4-0422-43a1-b8c9-9317882ca874.
1. Weisenthal, Joe. n.d. Bitcoin Is a Faith-Based Asset. Accessed 2 March 2022. https://www.bloomberg.com/news/articles/2021-01-21/bitcoin-is-a-faith-based-asset-joe-weisenthal.
1. Diehl, Stephen. 2021. The Intellectual Incoherence of Cryptoassets. 7 November 2021. https://www.stephendiehl.com/blog/crypto-absurd.html.

View File

@ -1,5 +1,5 @@
# The Library
We are maintaining a comprehensive library of articles, papers, books and other materials related to the space and the surrounding discourse. It provides deeper background on specific topics along with everything you need to fully engage with, and evaluate, Web3 and the claims being made about it.
We are maintaining a comprehensive library of articles, papers, books and other materials related to the space and the surrounding discourse. It provides deeper background on specific topics along with everything you need to fully engage with, and evaluate, [web3](../../concepts/web3.md) and the claims being made about it.
## Browse the Library
Explore our library online here:
@ -21,7 +21,7 @@ Set up Zotero:
Join the group:
* Visit the group library and click the join button. https://www.zotero.org/groups/4600269/web3
* Be approved by an admin (we'll get notified of your request or you can contact us via hello@lifeitself.us)
* Be approved by an admin ( we'll get notified of your request or you can contact us via hello@lifeitself.us )
Start adding materials.