Bitcoin is the first infinitely divisible truly-scarce digital real-estate that easily can be transferred to anyone in the world without relying on trusted parties. Its price is driven by both demand from those who believe in its utility and the cost required to produce and maintain it.

Someone on Twitter asked how to explain Bitcoin to someone who says it’s just the “greater fool’s” theory. This is how I thought about it. Thoughts?



Submitted November 29, 2020 at 10:54AM by tallross https://ift.tt/33qQxJP

Comments

Post a Comment

Popular posts from this blog

Coinmarketcap are listing BCH sites as BTC

Under here: https://coinmarketcap.com/currencies/bitcoin/ They have links to https://bitcoin.com/ and https://forum.bitcoin.com/ which are no longer BTC sites; they're BCH sites. I'm not good at twitter and don't have many followers but I've tweeted at them here: https://twitter.com/bitplane/status/955918445014585344 Can we raise awareness of this and get them to change it please? Submitted January 24, 2018 at 02:47AM by david-song http://ift.tt/2DtOW70
Read more

15 years of BTC Power Law

5 years ago I made a post in this subreddit showing that BTC is a power law: Price=A*days^n, (days from Genesis Block), n=5.8. Many didn't believe me and said the past doesn't predict the future. Well, after 5 years it turns out that BTC continues its power law behavior with similar exponent. A power law is not another formula or model but the same mathematical behavior behind river formation, mountains growth, cities development, GDP vs population, and metabolic rate. Everything important is ruled by power laws, so BTC. BTC is a force of Nature. Here is the original post: https://www.reddit.com/r/Bitcoin/comments/9cqi0k/bitcoin_power_law_over_10_year_period_all_the_way/ https://preview.redd.it/ygtk3bb1fkac1.png?width=3211&format=png&auto=webp&s=46261e53d34b1d904f72eaf159cfaaf2999290ba ​ Submitted January 05, 2024 at 11:26AM by Econophysicist1 https://ift.tt/sdnkAoG
Read more