What do you tell someone when they want to argue that Bitcoin is volatile and worthless and will be gone in less than a decade? I'm quoting Robert Breedlove from now on:

“People seek a money that is divisible, durable, recognizable, portable and scarce. And historically, monetary metals were the most divisible, durable, recognizable, portable and scarce monetary technology available to the world. Of all the monetary metals that were available gold was the most scarce. So that’s why we selected gold as money, as the best tool for the job over time. If you use that same framework to evaluate Bitcoin, we have a technology that has basically perfected all the properties of money. Bitcoin is perfectly divisible, it’s infinitely durable. It’s distributed information so no one know how to get rid of it. Infinitely portable because it’s just information. You can move it at the speed of light. Bitcoin’s also perfectly recognizable because you can audit the whole supply. Finally it’s perfectly scarce in that it’s a fixed supply asset. There’s no such thing as a fixed supply asset in the physical world, but in the digital world with Bitcoin, there is. So it’s money we can’t print.”

Submitted September 10, 2023 at 03:18AM by griptuba https://ift.tt/5Wa1uJv