There are actually people who think that bitcoin "has no value"; and one of the most famous people who thinks that, well, we all know the dude: [quote of Peter Schiff]
The good thing though, is that it doesn't matter that he thinks! The market decided(via supply and demand) that the current price is $8100(as we speak), so it doesn't matter if he thinks bitcoin has no value! It's one of the beauties of open markets.
The good thing though, is that it doesn't matter that he thinks! The market decided(via supply and demand) that the current price is $8100(as we speak), so it doesn't matter if he thinks bitcoin has no value! It's one of the beauties of open markets.
Bitcoin has a subtle value that goes beyond its current valuation in open markets. If Bitcoins value were purely speculative, then I would agree that it has no value at all: It actually would be a Ponzi scheme, with earlier fools trying to sell the scheme itself at a higher price to later fools. But Bitcoins value is not merely speculative: Bitcoin is much more than an expectation of future value!
Bitcoin is a single, unified monetary platform that everybody can use to exchange value with each other. They dont need to trust each other, or even like each other. They dont need to ask each others permission, or anybodys permission. It is this agreement which creates demand. And that agreement is not buy low, sell high market speculation. This agreement, facilitated by technology, in turn facilitates trade. Simply, it helps people live life better.
That itself is valuable!
I am not in Bitcoin because I want it to moon. I am in Bitcoin because it makes my life betterjust as it can make your life better, and make everybodys life better. It is true that as more people discover Bitcoin, its valuation will increase due to increased demand for a limited supply. I like that, but I think its an ancillary benefit.
With that said, you should create a Medium account lol.
I dont usually do the user-generated content thing, i.e. working for free for somebody elses business. And if I do, I would prefer to do it for the Bitcoin Forum!
(Also, what Lauda said...)
There are people that truly understand Bitcoin, not necessarily how it works, but why the world needs it and from where it derives value. [...]
If you are invested in Bitcoin, it pays for you to protect Bitcoin.
I urge people to do this quite often, but the lack of action is also quite noticeable. Maybe thread How you can help Bitcoin if you aren't a developer would be helpful? Good point. That is why I created this thread. We need clearer positive statements of what Bitcoin is, why it is valuable, and why people should care.
Above, I put some effort into explaining those points (and more!) in simple, familiar terms that anybody can understand. To all readers of this thread: Please feel free to adapt my own arguments to your own discussions with other people, when you are trying to tell them about Bitcoin and it seems they just dont understand. Of course, it also helps to link to this post elsewhere, if you feel that others should read it.
We also need better organized efforts to get the word out. Thats what I am working to achieve right hereat least, one small part. A beginning. We can work together to bring the Bitcoin social phenomenon to the next level of its development!