Ben Simpson argues that cryptocurrencies—especially Bitcoin—are valuable contrary to common skepticism. Using historical analogies (email, the Internet), he asserts new technologies are often initially dismissed, then explains Bitcoin’s value stems from blockchain’s cryptographic immutable ledger, limited supply (scarcity), decentralization (no single controller), and a deflationary issuance mechanism contrasted with fiat inflation and national debt. He cites large dollar-value estimates as evidence of value held on the software.
Chapters
If you think cryptocurrencies are worthless, I'm here to tell you why you're wrong and why digital assets and cryptocurrencies are one of the most valuable assets in the entire world. If we go back just a few years ago, when email came out, no one believed email was going to be even a thing. Who would want to send digital letters to people on the Internet? Why not just go to their house? Or when the Internet came out, who would want to have a website where you could list all the features and benefits of your business? Why wouldn't you just go to their business? Every new technology started out with 95, 98% of the population disagreeing with it, not believing it's worthwhile, not believing it's valuable. And that's what makes it valuable. Now, why is cryptocurrency valuable? Well, Bitcoin is a cryptocurrency which is the most valuable asset in the entire ecosystem because of blockchain. Blockchain is a cryptographic immutable ledger which makes it the most safe and the most valuable Internet software in the entire world. Literally $2 trillion worth of value stored on this software, which now makes it valuable. Why is it valuable where it's limited in supply? It's the most purest form of money because it cannot be created, cannot be inflated. No one controls it. It's decentralized, meaning that no one controls the blockchain. Anyone that owns bitcoin can be their own bank. No one can ever take it off them. And it's hard written into the code. The inflation mechanism, meaning that it is the opposite to cash. We have in our pocket cash. Today the US government is $37 trillion worth of debt and they're allowed to print more and more of it, which creates that value decrease. Bitcoin on the hand goes up in value because it has a deflationary mechanism. You cannot print more of it. These are just a few reasons as to why so many people are adopting digital currency, is why different countries around the world use as a curr and it is one of many reasons why cryptocurrency is valuable today.
