If #Bitcoin only has real/true value because people say it does, then Ethereum and the Dollar and Dogecoin have real value too, right??
Seems reasonable to say there’s more to it than that.
If #Bitcoin only has real/true value because people say it does, then Ethereum and the Dollar and Dogecoin have real value too, right??
Seems reasonable to say there’s more to it than that.
Value is a human concept.
If you ever have talked/discussed with others you will have noticed most have different opinions/believes/wishes/needs etc ?
So it shouldn't come as a surprise people value things differently.
Money is rather unusual thing.
Free trade is based on and only successful when two, or more, people don't agree upon the value of traded things.
Put simple both think they do a good trade/gain from a voluntary trade.
With money we need to more or less agree on the value.
For money to be successful most need to agree on its value.
Of course there are others, the usual like; easy to recognize, hard to counterfeit, divisible, etc.
For ease of use it is a natural preference we have one money worldwide (gold has gone through that natural selection process).
But humans can also be quite wrong (do I need to explain Fiat ?).
And that is the risk with #Bitcoin
Objectively it is the best Money available to mankind.
But if we are ready to embrace it, is not a forgone fact.
If we are this intelligent as we all think we are, how come we all happily accept Fiat ?