omekau on Nostr: It seems you understand the deficiencies of fiat as you claim it is fundamentally ...
It seems you understand the deficiencies of fiat as you claim it is fundamentally under-lied by nothingness yet you also seem to measure bitcoin’s value in fiat terms by saying it shouldn’t be nonzero. The solution to fiat (and so we no longer measure value of goods and services in it) is to move to sound money. Bitcoin checks the boxes in beating fiat at durability, fungibility, divisibility, verifiability, scarcity, etc.
A book ledger entry in and of itself isn’t valuable or even possible because there needs to be a monetary incentive to maintain and defend the ledger from being attacked. Proof of Work is what guarantees any attack must be costlier than those using the network and the immutability that is provided warrants a premium.
Happy to discuss further 🙂
Here’s a tried and true “Bullish Case for Bitcoin” if you haven’t already come across it:
https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc
A book ledger entry in and of itself isn’t valuable or even possible because there needs to be a monetary incentive to maintain and defend the ledger from being attacked. Proof of Work is what guarantees any attack must be costlier than those using the network and the immutability that is provided warrants a premium.
Happy to discuss further 🙂
Here’s a tried and true “Bullish Case for Bitcoin” if you haven’t already come across it:
https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc