What if Bitcoin Goes To $0?
Q: What if Bitcoin goes to $0?
A: What if I don't care?
Q: Why?
A: Because Bitcoin IS the backing.
The concern of Bitcoin becoming "worthless" (i.e., $0 in terms of fiat) is rooted in the attachment (or addiction?) to the establishment.
Remember Buckminster Fuller's quote?
You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.
We (specifically Cyberpunks in the early stage) are building new ways of doing things when it comes to the transfer of value.
Blessed enough, Bitcoin has just proven itself slightly over 16 years.
What if Bitcoin Goes To $0?
The risk is there. Yet, if you truly understand the philosophy behind,
Bitcoin doesn't care.
Again, attachment to the establishment is optional, not a must.
Eventually, a utopian value system that will determine, for instance, a coke will always be priced 0.0005 BTC regardless where it will be sold, be it Tokyo, Kuala Lumpur, Paris, New York, Shanghai etc.
What makes a currency, currency?
Trust. Circulation. Legislation.
Bitcoin's intrinsic value lies in its overall financial system capability, which is programmable money that is transparent, immutable, and auditable.
16 years after the creation of Bitcoin
Still: 10 Minutes Per Block, Difficulty Adjustment Every 2,016 Blocks, 21 Million, SHA-256, 99.99% Uptime, Never Hacked, Open Source, Decentralized, Immutable, Growing.
#NFA #DYOR