There are no infinite buyers and sellers. With intrinsic value I meant that there is something tangible you need or want. And the local supply of that thing. Which is determined by the effort of providing a thing. That is why beef in a farm town is cheaper than hundreds or thousands of miles away, as the whole chain of transportation and reselling adds cost.

> With intrinsic value I meant that there is something tangible you need or want

the whole idea of "intrinsic value" is that it is not tied to "needs and wants", because "needs and wants" is just another way of saying "market" and on a market there is only speculative value.

"intrinsic value" as a concept is used to derive valuation of a company based on it's assets, liabilities, etc - fundamentals, as opposed to market capitalization. taking the concept of intrinsic value out this context is meaningless because nothing in the universe has intrinsic value.

I see that you have an issue with determination of value, because you are describing it on the way you value things only. After you solve problem with understanding that the value of everything is relative you give a chance to bitcoin too.

You are saying that there are no infinite buyers and sellers, you are right but there are no infinite bitcoins too.

You are taking an example of beef cause you thing it has intrinsic value but let me tell you that in some states in India if they find you eating beef, they will even punish you for that.

Everything's value is relative based on the usage, and usage creates demand.

As conclusion, if community of libertarian will grow, Bitcoin's value will rise because demand will rise, if not, it is likely to fail.

But nothing is black and white, people will take sides and we will always have haters and lovers. There will always be enough bitcoin to serve people they want to use and not enough for the value to become zero.