The compelling case for Crypto-especially Bitcoin-is this as of right now, there very few technology or assets offer that is as transportable. People can make this case about value-rightfully so-but that is all subjective. The value of a business/stock is subjective otherwise there would be no mismatch between value & price which follows for gold-which has limited utility, I must confess gold has been 10% of my net worth, otherwise gold miners would be valued higher. Artwork fits more closely with Bitcoin proof of work is needed, limited supply, captures energy, etc. but Artwork is only good for the circle it travels in, try using it as currency at Walmart. The argument could be made for Bitcoin as George Gammon shown in this Chile to Argentina challenge-which he found stable coins were more in demand. The point however is Bitcoin is being adopted more & more increasing the pool of people willing to transact. But the key is there is no middle man and the transaction is instantly verifiable.
100% correct. The Austrian view that all value is subjective has been a profound realization for me. Ease of use of Bitcoin in commerce will come in time as adoption grows and builders keep building great technology around it. It's happening.
The compelling case for Crypto-especially Bitcoin-is this as of right now, there very few technology or assets offer that is as transportable. People can make this case about value-rightfully so-but that is all subjective. The value of a business/stock is subjective otherwise there would be no mismatch between value & price which follows for gold-which has limited utility, I must confess gold has been 10% of my net worth, otherwise gold miners would be valued higher. Artwork fits more closely with Bitcoin proof of work is needed, limited supply, captures energy, etc. but Artwork is only good for the circle it travels in, try using it as currency at Walmart. The argument could be made for Bitcoin as George Gammon shown in this Chile to Argentina challenge-which he found stable coins were more in demand. The point however is Bitcoin is being adopted more & more increasing the pool of people willing to transact. But the key is there is no middle man and the transaction is instantly verifiable.
100% correct. The Austrian view that all value is subjective has been a profound realization for me. Ease of use of Bitcoin in commerce will come in time as adoption grows and builders keep building great technology around it. It's happening.