So many smart people around me believe in bitcoin.
I can’t get it. Where does this confidence from?
We are in this hype for several years already. Nothing is happening. 0 super interesting crypto companies.
Why does bitcoin price keep increasing?
#bitcoin
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Good luck trying to spend that money outside the black market.
Digital objects are by their nature not scarce (in the economic sense- exclusionary) as they can be infinitely reproduced with no marginal cost. Bitcoin’s innovation was to enable scarcity in a digital context (without requiring trust in a third party guarantor). So now you have the equivalent of “land” or “gold bars” for the internet. Just some sort of asset which is scarce. Just like anything else with scarcity and utility, people will trade for money.
Is it worth investing in? That depends, will more people or fewer people buy drugs on the internet in the future? Will more or fewer governments drive their economies into the ground?
BTC or some other alts I'm not exactly sure which one will shine but the underlying tech and research happening is real disruption . The skeptics only mock the volatility and trading aspects, they don't understand the tech.