You are reading a single comment by @ffm and its replies.
Click here to read the full conversation.
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
ffm
Edit: what I mean with the above is that using bitcoin means using the non-centralised, non-government, relatively secure and transparent bitcoin network to send value. An unbanked Kenyan tribesman with a smartphone can buy something from Japan with bitcoin, which they theoretically couldn’t do without a government regulated bank account. Or a Venezuelan citizen, if they’re able to find someone who will take their currency for bitcoin, can actually their money overseas as bitcoin and more people will accept it (very few countries have exchanges for Venezuelan bolivars).
The ability to do that has value.
Double edit: seems I erased initial paragraph. I think I said something along the lines of bitcoin does have intrinsic value, and that’s why it’s considered a commodity, because owning bitcoin means you can transfer value with the network, and that’s useful and worth something.