BTC: Why has it become a new store of value? Is gold really comparable to fiat currencies?
BTC is scarce and discrete, like an open secret that everyone knows but can remain anonymous. Like a diplomat, it flows across borders with ease.
Because of these characteristics, people are beginning to view it as an alternative to fiat currency and gold, as another store of value that allows us to escape the constraints of governments and banks. Imagine that even if one Bitcoin is only worth 1 US dollar, you can completely control this 1 US dollar, without having to look at the government or banks!
I was curious to check out the people who said BTC was a scam and wondered what kind of insights they could have. As a result, the most common thing they say is "This is a Ponzi scheme"? But this is a slap in the face, because every word they use to criticize Bitcoin can also be used to criticize fiat currencies!
Others say that Bitcoin has “no intrinsic value.”
Well, let me ask you, what is the value of gold? can you eat it? Can I drink it? Can it help keep you warm? Can it allow you to travel far? Or give you shelter from the wind and rain? So why is it “valuable”? Is it because it’s rare and shiny? Or because we occasionally use it to make computer parts?
If Bitcoin has “no intrinsic value”, what is the “intrinsic value” of gold?
To be honest, I really don’t understand the arguments against Bitcoin. I'd love to hear a sincere, meaningful rebuttal, but so far, what I've heard is baffling to me.
