Bitcoin Marketcap
$1.70T
Gold Marketcap
$15.61T
BTC Settlement Volume (24hr)
$12.90B
BTC Inflation Rate (next 1yr)
1.17%
CASEBITCOIN making the case for bitcoin every day
Bitcoin Marketcap
$1.70T
Gold Marketcap
$15.61T
BTC Settlement Volume (24hr)
$12.90B
BTC Inflation Rate (next 1yr)
1.17%
CASEBITCOIN making the case for bitcoin every day
2 Aug 2019 | | Price when published: $10,460 (ROI since: +759%)
Filed under: fundamentals blogs
Bitcoin is valuable, not because of a particular feature, but instead, because it achieved finite, digital scarcity, through which it derives its store of value property. The credibility of bitcoin’s scarcity (and monetary policy) only exists because it is decentralized and censorship-resistant, which in itself has very little to do with software. In aggregate, this drives incremental adoption and liquidity which reinforces and strengthens the value of the bitcoin network. As part of this process, individuals are, at the same time, opting out of inferior monetary networks. This is fundamentally why the emergent properties in bitcoin are next to impossible to replicate and why bitcoin cannot be copied or out-competed: because bitcoin already exists as an option and its monetary properties become stronger over time (and with greater scale), while also at the direct expense of inferior monetary networks.
What do you think of this piece?