Below is a direct excerpt from Marty’s Bent Problem # 1210: “Bitcoin gives you control. That’s the basic value.” Sign up for our newsletter here..
We are part of the Bitcoin Bear Cycle, and those who mocked new monetary assets running on their own distributed network claim that Ponzi for degenerate speculators and drug addicts wins. Is coming out of woodwork for. If you’re paying attention to headlines and talking heads, you’ve probably heard phrases like this:
“See, this is evidence that Bitcoin is too volatile to function as a store of value. Who wants to store value in such a volatile asset?”
“It also doesn’t work as a good medium of exchange due to the slow confirmation time and the high number of transactions per second supported by the blockchain.”
“I told you so!”
These are just false phrases issued by individuals trying to identify a flawed bias, hoping that this is the bear market that sends Bitcoin to zero. The problem for this class of critics is that their view of Bitcoin is mysterious, with a complete focus on prices and how rapidly they are fluctuating at all times. Price is certainly an important aspect, and while high prices can be considered far superior to low Bitcoiners, prices alone do not capture the fundamental value of the network. A basic value that cannot be reproduced by other assets on the planet. As mentioned in the tweet at the top of this page, Bitcoin provides individuals around the world with the ability to easily receive, save and transfer money in a self-sovereign manner.
The basic value proposition of a network is the control of these three functions. All other monetary assets on the planet are inadequate to provide individuals with the types of control that Bitcoin can provide. Short-term price fluctuations early in the Bitcoin monetization phase are what I am happy to get angry with. Knowing that I actually manage my money is a kind of reassurance that a completely “stable” monetary good managed by a corrupt middleman simply cannot be offered.
I know I own 21,000,000 times the total supply.
Since I created it myself, I know how the private / public key pair was created.
You can confirm that the Bitcoin sent to your wallet is actually Bitcoin.
I like that Bitcoin without the risk of a bank or payment processor denying access to my funds at certain times of the day, my political views, or the need for unsuccessful central bank bail. A system that can hold as much as you want.
This level of control is very powerful. Despite recent historical price fluctuations, I find that more and more individuals around the globe slowly but surely become aware of the basic value proposition of this level of management for their money. believe. The amount of expert screams and Schadenfreude does not change the inherent control that the Bitcoin network gives individuals to their money. They can scream and laugh. I will continue to preach and accumulate.