What about the value it provides those who can't trust their government? (This may easily be 5% or less of the total volume.)
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It's not clear there's any incremental value there vs reserve currencies.
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All value is speculative. Value is just collective agreement. Its a creation of human whims.
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This is philosophical, but irrelevant. Patio means the value is generated by means other than speculation - ie via real utility.
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Another perspective https://www.daviddoswell.com/property.html
Thanks. Twitter will use this to make your timeline better. UndoUndo
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> Every year which goes by without it producing non-speculative value ... > We processed over 1 billion USD in paymentshttps://blog.bitpay.com/2018-blockchain-payments-review/ …
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You'll probably agree that Bitcoin does produce some non-speculative value. The disconnect is that its valuation is higher than the current usage would justify. That's because the price is based on future expectations. Same story as with Tesla.
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