I really really don't understand the "utility increases value" when it comes to crypto.
We have had like a decade of people cramming use cases into blockchain. Name one household blockchain product. One single blockchain use case that has changed ordinary people's lives. Only bitcoin even approaches this, and it is widely criticized for being "old" and "too limited".
Same mistake that gold people make. Gold having use cases for producing other goods makes it a *worse* money. The best money is one with 0 utility/commodity value and 100% monetary premium, Bitcoin.
Bitcoin's utility is not having to use gold.
Right. The more utility, the lower the stock to flow, and the LESS it looks like money. This is how Gold beat out silver, bc humanity kept finding more and more industrial use cases for silver. We find silver so not-precious, we literally spray it in hospital duct work.
Currently, #Bitcoin has utility as an unconfiscatabale asset and store of value. The speculation on #BTC and other #crypto often considers present and future utility. Utility can change over time. It’s not a given that Bitcoin will conserve these. #Gold has lost its utility as a medium of exchange over the ages although it is now regaining it thanks to the #goldbacks.
#goldback
TIL nostr:npub1s0fs9dwztm2rukm42vh6df4a5gwykclf75tgyeuc75t0cs2eh8rsu2rqf5 is the resident nostr GoldBacks shill
