Thanks for the explanation. Now I get what you mean.
Then the pre-existing value could also be Bitcoin as a censorship resistent network.
Thanks for the explanation. Now I get what you mean.
Then the pre-existing value could also be Bitcoin as a censorship resistent network.
Censorship resistance is property of #gold that is digitally implemented in #bitcoin ..
Proof - no one can stop you from buying gold .. they may stop you from moving it across the borders but there is no way to exclude someone from gold network !
The limitation in gold is there is a minimum acquisition cost .. like you need to buy atleast ten grams or may be a gram ..which is a lot .. bitcoin makes the acquisition and transfer costs practically zero .. 100 sats for a penny ..
That is why bitcoin is the apex asset for poor .. rich can always invest in real estate , diamonds , arts and what not .. poor creatives can only get #sats -)
What I mean with censorship resistent is that you can store/publish information that nobody can delete. Not even the publisher.
You can burn books, corrupt a centralized server or smelt a engraved goldbar. But you cannot delete a block in the bitcoin blockchain.
Yes sure .. being digital has obvious advantages and disadvantages.. bitcoin is easiest to steal .. how do you think 200,000 showed up with gov .. they definitely didn't buy :-)