pull down to refresh

0 sats \ 1 reply \ @k00b 30 Sep \ parent \ on: What about Bitcoin are you too embarrassed to admit you still don't understand? bitcoin

What's the commodity exactly? It's kind of self-referential, isn't it?

write
preview
0 sats \ 0 replies \ @Solomonsatoshi 30 Sep

In the case of Bitcoin, I guess the commodity is the exclusive encrypted ability to transfer the tokens held at a specific address on the blockchain? Like all money Bitcoin is an entirely human construct...in the case of Bitcoin, only existing within/upon the human construct of the blockchain. So the inherent value is sourced in the right to transfer the right to transfer on the blockchain. Yes rather circular!

reply