What Makes Bitcoin And Other Blockchain Valuable?
People paying $ fees is proof of its value, that people will “pay more for something that has value.” Paying to away junk doesn’t mean you value the it, it means you want to get rid of it. Paying a $50 fee to send Bitcoin merely means it’s worth at least $50 to use the remainder of the money; it does make any statement as to whether the person sending that money still regards Bitcoin as valuable or not. I paid $50 fees many times because I had to do so to access whatever value remained. I wasn’t happy about it.
A significant portion of conventional wisdom was engineered by the Rockefellers and Morgans of the world. Much of it to control everything from behind the scenes, more to hide that fact. The creation of the Fed, of course, is a prime example
Important Attributes for Method of Payment:
Important Attributes for Store of Value:
The differences are very much low vs high time preference.
At core, leftists/socialists/Keynesians believe that everything is a zero-sum game, that no value can be really created *or* destroyed. They have a static view of the world where every job is rent-seeking.
This ideology is adopted by those who want absolution for their sloth.
Courage is the ability and determination to do things that are uncomfortable and awkward. Probably the most underrated virtue necessary for success as an entrepreneur.
Hurry is the symptom of having a high time preference.
Low time preference generally means that taking time to learn to do things properly instead of doing things quickly. Over the long run, that will save both time and money.