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Genre: Science & Technology
License: Creative Commons Attribution license (reuse allowed)
Family friendly? Yes
Shared November 2, 2021
Responding to a real life question, why should Bitcoin be valuable at all? Doesn't it "not do anything?"
Here I discuss the ramifications of a digitally-based world financial system and what it means for bitcoin price. Bitcoin can not only be used as a store of value to replace gold, but can be used to write higher-level applications on it to make trustless and peer-to-peer financial derivatives, which could soak up obscene amounts of the financial soystem. The market cap of Bitcoin has astronomical potential, and owning bitcoin means having a permanent share of this system on the ground level.
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