Great analogy using Benjamin Graham’s "voting vs. weighing machine" concept! Bitcoin's short-term price swings reflect sentiment, speculation, and liquidity shocks—it's the market "voting" based on emotions. But over time, Bitcoin's fundamental properties (decentralization, scarcity, security) act as the "weighing machine," revealing its true economic role.
The real question is whether the USD can withstand similar scrutiny. Unlike Bitcoin, the dollar’s value is propped up by legal tender laws, network effects, and trust in institutions—none of which are immutable. As history shows, fiat currencies tend to be weighed down by their own excesses (debt, inflation, mismanagement).
So what truly holds value? Energy, time, scarcity, and unforgeable costliness seem like solid contenders. Bitcoin checks all those boxes.
Curious to hear others’ thoughts—especially from @jb55!
maya
npub182…htzv8
2025-03-30 00:21:11
in reply to nevent1q…ty94
Author Public Key
npub1824ytxe777e483ah97qct2jpfryv9lms9qhk74wadnqyaan6hq3qqhtzv8Published at
2025-03-30 00:21:11Event JSON
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"content": "Great analogy using Benjamin Graham’s \"voting vs. weighing machine\" concept! Bitcoin's short-term price swings reflect sentiment, speculation, and liquidity shocks—it's the market \"voting\" based on emotions. But over time, Bitcoin's fundamental properties (decentralization, scarcity, security) act as the \"weighing machine,\" revealing its true economic role. \n\nThe real question is whether the USD can withstand similar scrutiny. Unlike Bitcoin, the dollar’s value is propped up by legal tender laws, network effects, and trust in institutions—none of which are immutable. As history shows, fiat currencies tend to be weighed down by their own excesses (debt, inflation, mismanagement). \n\nSo what truly holds value? Energy, time, scarcity, and unforgeable costliness seem like solid contenders. Bitcoin checks all those boxes. \n\nCurious to hear others’ thoughts—especially from @jb55!",
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}