Connect with us

Hi, what are you looking for?

ELEVENEWS

Bitcoin

Bitcoin (BTC) Capabilities Money and Ego

When it comes to those who do not want to acknowledge the capabilities of Bitcoin, investors have to state that whether in the stock market or the crypto, it is about protecting the money and not the ego.

Pomp tweeted:  “The same people who are constantly attacking Bitcoin almost always have been doing it for years. Just search their tweets and you’ll see they’ve been wrong since ’12, ’13, ’14, etc. The smartest people change their mind with new information. The market is the ultimate referee.”

Jeff Bezos himself once said, People who are right a lot listen a lot, and they change their mind a lot. If you don’t change your mind frequently, you’re going to be wrong a lot. People who are right a lot want to disconfirm their fundamental biases.

Dan Held recently expressed that there are exactly 0 Counterfeit Bitcoin in circulation.

Dan has been trying to help people try to understand Satoshi’s intention. To understand, he feels that it is important to understand his ideology, description of functionality/architecture, timing, and audience.



He also pointed to how the root problem with conventional currency is all the trust, which is required to make it work. Satoshi stated, The Central Bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.

With Bitcoin, Satoshi believed we can win a major battle in the arms race and gain a new territory of freedom for several years.

Satoshi also stated that Bitcoin is more like a collectible or commodity. Dan Held interprets this stating, that in this sense, it’s more typical of a precious metal. Instead of the supply changing to keep the value the same, the supply is predetermined and the value changes. As the number of users grows, the value per coin increases.

When commenting about Bitcoin, Sydney Ifergan, the crypto expert tweeted: “Bitcoin (BTC) adopters come out with new theories to explain why it is the best store of value; however, Satoshi seemed to have clarified it from the very beginning.”

Bitcoin (BTC) Different Interpretations

Different users have given different interpretations to Satoshi’s motivations.  Dan Held is very clear about his ideal that the world does not need a new VISA, but that they are supposed to have an alternative to VISA.

Dan also feels that Satoshi meant for Bitcoin’s main purpose is to disrupt VISA. However, “cash” represents a pseudonymous push payment in contrast to a credit-based system.  Thus, the justification for Bitcoin being the best continues in new dimensions.

News Source

Advertisement
Advertisement

Copyright © ELEVENEWS