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
omekau / Omekau
npub192…0zp9e
2023-01-25 04:34:30
in reply to nevent1q…96at
Author Public Key
npub192wxsylzekrdem28ry0jfh5trgzm7zvtljcxv76h0gzku9y4n98qz0zp9eSeen on
wss://relay.nostr.bandPublished at
2023-01-25 04:34:30Event JSON
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"content": "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. \n\nA 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.\n\nHappy to discuss further 🙂\n\nHere’s a tried and true “Bullish Case for Bitcoin” if you haven’t already come across it:\n\nhttps://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc",
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