The way I see it, 90+% of the price of Bitcoin might be speculation, scams, black market, whatever you dislike the most. The rest is honest value for the only robust asset that can be exchanged across any border and is not subject to the whims of governments and bureaucrats. It is the "digital currency for the Internet age" Milton Friedman was describing in 1999.
(Insert 50 pages long disclaimer here for the HN pedants wanting to point out it's all a scam, that it's not a currency, that it is actually subject to the whims of governments, that it has no value, that it boils the oceans, that it is not the only cryptocurrency, etc.)
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The way I see it, 90+% of the price of Bitcoin might be speculation, scams, black market, whatever you dislike the most. The rest is honest value for the only robust asset that can be exchanged across any border and is not subject to the whims of governments and bureaucrats. It is the "digital currency for the Internet age" Milton Friedman was describing in 1999.
https://www.youtube.com/watch?v=C_Ny-UPve-8
(Insert 50 pages long disclaimer here for the HN pedants wanting to point out it's all a scam, that it's not a currency, that it is actually subject to the whims of governments, that it has no value, that it boils the oceans, that it is not the only cryptocurrency, etc.)