“In a free market of currencies, the hardest money always wins”

For those of you wondering about the future success of Bitcoin, and/or invest in altcoins, this is a really important concept IMHO

This was a quote from Matt O’Dell recently on a podcast. It really resonates to me, and most importantly is consistent with human history and human behavior. Money throughout history has only been an idea of “what value represents” evidenced by things that were used as money in the past such as sea shells and large stones as examples. Gold of course won in this “free market” in the past, given some of its similar properties to Bitcoin

I see the current marketplace of digital money in the same way….for me it’s logical that this marketplace of “cryptocurrencies” exists, as people try and figure out through trial and error what is the best money. But again IMO, Bitcoin is it. It’s digital gold, and there is nothing else that will displace it.

Submitted July 22, 2023 at 05:15PM by Neat-Finger197 https://ift.tt/JZW5lzk