Bitcoin and Value
“Bitcoin has no fundamental value” has long been the war cry for many traditional financial participants. This week we thought we could shed some light on this short-sighted mantra.
“Bitcoin has no fundamental value” has long been the war cry for many traditional financial participants. This week we thought we could shed some light on this short-sighted mantra.
One of the most common questions we get when talking to people about digital assets usually concerns the difference between Bitcoin and Ethereum. We believe this confusion stems from the idea that both of these assets compete with each other as money.
Money has always been technology. It allows society to store time, effort and sacrifice today and redeem it for time, effort, and sacrifice in the future. Similar to how a title deed gives the holder a claim on a property, money is a claim on human time. When we exchange our time for money we hope that it can hold value for long enough to enable us to trade it for something we want.