Fantastic piece @kevinwong. I recently read Sapiens by Yuval Noah Harari. One of the pieces that stuck out to me most in it was the fact that what makes us humans special is our ability to believe in fictions.
So what if Bitcoing is "not a real thing."
Neither is:
- Religion
- The idea of a "company"
- Fiat currency
- And so on...
The fact that we believe something is valuable, exists, or is a "thing", makes it so. This goes for all types of things in our society, including both fiat and cryptocurrencies. That's why what Jamie said is nonsensical.
Yeap that's a book I've read recently as well , although I watched that ted talk last year I think. Intrinsic value and subjective value have always been debated to no end.. but I'm more to the subjective valuation side, since what's intrinsic is also a subjective thing.. we're just putting some numbers on them.
Well put - thanks for the response Kevin. Digging into your writing and enjoying it quite a bit so far!