30 Dec '13, 8pm

Divining The Underlying Value Of Bitcoin

Divining The Underlying Value Of Bitcoin

Business Insider’s Joe Wiesenthal today published an interesting piece on Bitcoin , partially responding to Paul Krugman’s somewhat inscrutable recent blog post that called the cryptocurrency “evil,” and partially answering the question of why Bitcoin has value. It’s been a topic we’ve been discussing for months, making Wiesenthal’s argument worth digging into. He breaks Bitcoin into three interrelated characteristics that support one another: It’s a currency, equity, and a social network. Bitcoin acts as a currency because you can use it as a generic exchange medium in lieu of dollars and other traditional currencies in a growing number of places. Bitcoin also at least behaves as an equity, because the more people who use and accept it, the more the value of each coin — at least thus far — generally rises. Interestingly, Bitcoin’s ability to act as a currency and an equit...

Full article: http://techcrunch.com/2013/12/30/divining-the-underlying-...

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Here's the answer to why Bitcoin has value.

Here's the answer to why Bitcoin has value.

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