Bitcoin (BTC) Need Not Physically Exist To have Intrinsic Value

Bitcoin in its original version has full utility. Investors who want to make themselves relevant should understand the full Bitcoin technology.  Those who educated themselves about Bitcoin know the value of BTC and are finding ways to keep it. Many are holding way more BTC than anything else.  People want to hear more about BTC as many of them are willing to buy it.

An interesting saying goes like: “Bitcoin is the black hole that will absorb all fiat money issued.”

People who understand how bad it is when the value of the money you earned hard goes down due to inflation love Bitcoin.  BTC is provably scarce, decentralized, and it can be easily transferred. There are many who argue that BTC does not exist physically.  They ridicule stating you buy a piece of computer data with your fiat money.  However, the reality is that BTC need not physically exist to have intrinsic value.  Bitcoin can be “used as a unit of account” that can serve some useful function – therefore it has surely got intrinsic value.

Millions of Citizens trapped under authoritarian regime with face double-digit inflation and will soon likely need bitcoin. Bitcoin requires only trust in Math going by the philosophy that men can cheat, but math does not cheat BTC works.

Several investors are making a very big bet on technology companies and probably many still believe that bitcoin will touch 500k.  Bitcoin is also getting promoted as a reserve asset. Several corporations are buying to the idea as well.

Negative Sentiments About Bitcoin

There are alternative negative sentiments about Bitcoin.  Anti-Bitcoin advocates have to state that Bitcoin has become sort of a religion whose believers might be in for a very rude awakening.  Some argue that BTC is easy to pay for stuff, but the reality is that very few use BTC to pay for anything because it is very slow.  Also, paying with BTC is very slow.

Defensive statements like: “I can send bitcoin anywhere in the world instantaneously on a lightning network.” Is also brewing in the Bitcoin community.

On comparative merits some say, BTC as a store of value (SOV) is better than using BTC in a payment network.

Negative sentiments about the statement “Bitcoin is the future” is also getting questioned. How? If accounts of individuals and entities associated with crypto wallets are frozen by banks by government order – then it sounds doomed.

There are possibilities for the government to ban all crypto in a blink.  Further, millennials are not able to see money launderers, scamsters, and terror groups encashing on cryptos.  Governments can easily turn off your fiat currency and confiscate your gold – similarly they can ban electricity.  Therefore, it is time you relook in to the power of Bitcoin.