Saturday, May 22, 2021

Bitcoin is Blockchain Gold

Bitcoin is proof of concept in DeFi space. Just like how gold was first used in ancient times for trading goods and services. Bitcoin’s future is not transactions, rather, it’s a store of value.

If I gave you a block of raw, unprocessed gold today, could you walk to shops and buy a candy bar? No you would need to go through a series of unusual events to convert that gold into day to day money. Same for Bitcoin.

If the world ends tomorrow, do you think people will immediately try and source gold to stay alive? No they will source life supporting materials like food and water.

The point is a store of value is a relative term. In blockchain universe, Bitcoin is gold. Nothing more , nothing less. It’s so heavily interconnected in the DeFi space and really is an unstoppable force at this point.


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