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RE: Understanding Blockchain Freedom — Why So Many Smart People Are Wrong About the Value of Bitcoin

in #blockchainfreedom7 years ago (edited)

@lukestokes - The series and this episode, especially, is very helpful. I am an engineer - therefore, I could immediately relate to the statement in the video about Finance experts having a bias against Bitcoin whereas those who work with technology like it. The example of equating oil to bitcoin is wonderful. It was very easy to grasp that the value of anything is inherently dependent on the use to which it is put (like oil became suddenly valuable after the advent of IC engines).
The point people make that "Bitcoin has no intrinsic value because anyone can create it " also well refuted by citing an example of a duplicate 100$ bill having no value if it is instantly recognized as duplicate and social concious has decided not to accept that as currency.

Thanks. Though I have been doing some reading, getting this clear and concise picture of the underlying concepts does help in better understanding.

That does not mean I have suddenly become wise in the world of Bitcoin or Crypto though - Just lost some bitcoin value in a bad altcoin trade I tried. LOL. I will keep learning. Hopefully, aided by more such episodes in your series.
Thanks. Cheers. Upvoted.

Regards,
vm2904

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