The longterm value proposition of Bitcoin lies in its ability to serve as a sound and reliable form of money from "summary" of The Bitcoin Standard by Saifedean Ammous
Bitcoin's significance lies in its potential as a robust and dependable medium of exchange. Its ability to function effectively as a form of money is crucial to its long-term value proposition. The fundamental purpose of money is to serve as a medium of exchange, a unit of account, and a store of value. In order to fulfill these roles effectively, money must possess certain essential characteristics. These include durability, divisibility, portability, recognizability, scarcity, and fungibility. Bitcoin embodies these characteristics to a remarkable degree. Its digital nature ensures its durability and portability, allowing for transactions to be conducted quickly and efficiently across borders. The divisibility of Bitcoin means that it can be easily broken down into smaller units to accommodate transactions of varying sizes. Additionally, the scarcity of Bitcoin is predetermined...
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