Bitcoin operates in many ways like a ponzi scheme (the value of investment depending on future investors for value) and is mainly operating as money laundering tools.
Until this has some real world use, like walking to a store and given the choice of cash, credit or crypto I don't see it as much more than a gamble of an investment.
For that it would have to have zero intrinsic value, which in reality is lower bounded by the cost of mining (e.g. hardware, electricity, real estate, utilities, security etc.).
The costs of securing the network (e.g. mining) are what gives Bitcoin inherent value. The limited number of Bitcoins available then correlates the velocity of money (e.g. how much capital flows through the network) with the number of circulating Bitcoins and the mining costs.
What is the intrinsic value of the coin? It is immaterial, cannot be used without the hardware and software backing it. Even the original papers acknowledge the fiat nature of the currency, meaning it only has the value of faith that it has value.
The hardware INVESTED to operate was made on the promise of future investments providing a value, ultimately the miners only use their resources because they will see a return. A return they can only see by increasing users investments.
You can transfer value from person A to Person B anywhere in the world, with no permission from a bank, govt, corporation or organization, tustlessly in minutes or seconds. And its global. This isn't sending US dollars to China. Bitcoin is a universal money.
Bitcoin operates in many ways like a ponzi scheme (the value of investment depending on future investors for value) and is mainly operating as money laundering tools.
Until this has some real world use, like walking to a store and given the choice of cash, credit or crypto I don't see it as much more than a gamble of an investment.
No, Bitcoin does not operate like a ponzi scheme.
For that it would have to have zero intrinsic value, which in reality is lower bounded by the cost of mining (e.g. hardware, electricity, real estate, utilities, security etc.).
The costs of securing the network (e.g. mining) are what gives Bitcoin inherent value. The limited number of Bitcoins available then correlates the velocity of money (e.g. how much capital flows through the network) with the number of circulating Bitcoins and the mining costs.
What is the intrinsic value of the coin? It is immaterial, cannot be used without the hardware and software backing it. Even the original papers acknowledge the fiat nature of the currency, meaning it only has the value of faith that it has value.
The hardware INVESTED to operate was made on the promise of future investments providing a value, ultimately the miners only use their resources because they will see a return. A return they can only see by increasing users investments.
You can transfer value from person A to Person B anywhere in the world, with no permission from a bank, govt, corporation or organization, tustlessly in minutes or seconds. And its global. This isn't sending US dollars to China. Bitcoin is a universal money.