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In this video, I discuss whether Bitcoin has any utility.
Altcoin promoters frequently assert that Bitcoin has no real use case, no utility, and is rather just a speculative asset. That’s just because altcoin promoters have something to sell you.
I conclude that Bitcoin has the largest utility and greatest total addressable market of any crypto asset, since it provides a neutral digital store of value that can be transmitted across digital communications channels in a permission-less, censorship-resistant manner.
Bitcoin is easier to transport, verify/assay, and self-custody without counter-party risk or risk of confiscation than any traditional asset like gold, stocks, bonds, or real estate.
You can send Bitcoin to anyone in the world, without needing to open up an account, get a license, or get permission from any person, group, or government.
You can mine Bitcoin without needing to ask for permission.
You can sell goods or services and get paid directly in Bitcoin without needing to ask for permission.
When someone tells you that Bitcoin has no utility, you know they are either an altcoin promoter, or are a victim of altcoin promoters and just repeating the same talking points.
Not investment advice! Consult a financial advisor.
Justin Bons bashing Bitcoin:
1/17) BTC is doomed to fail
A modern-day fool's gold without any foundation in utility, BTC has become a purely speculative asset
Fueled by irrational & emotional appeals to greed, beware of the purveyors of lies
These are the eighteen reasons why you should not invest in BTC:
— Justin Bons (@Justin_Bons) December 29, 2022
Watch Justin Bons underperform Bitcoin:
https://www.cyber.capital/fund-a
USD is a terrible store of value:
https://www.visualcapitalist.com/wp-content/uploads/2021/03/Purchasing-Power-of-the-US-Dollar.jpg
Those who started daily dollar cost averaging Bitcoin at the all-time-high are once again in profit.:
https://twitter.com/w_s_bitcoin/status/1694396711911793033
Cardano Use Cases:
https://www.cryptoglobe.com/latest/2023/05/cardano-use-cases-cardano-foundation-ceo-on-real-world-impact-and-vision-for-the-future/
Cardano: Social Credit Scores For Kids:
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#crypto
#money
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45 Comments
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I can buy a beer at the bar with my Coinbase VISA Debit card. Don't get much more utility than that.
Store of value is itself a form of privacy and liberty. There is no diminishing utility in that, only the perception , or else the utility's delta, that can have short term maleficent deviations.
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M, well done video. I appreciate the different viewpoints on BTC. The "jewel" in the argument was the buying of a product/service by the gov't where it promptly prints up more fiat money, making the "money" it paid with less in value. If you'll excuse the pun: simply priceless. 😂
anyone who states bitcoin has no utility still doesn't understand how money works, or they just don't care.
When you say the gold standard failed in 1971, what are you referring to? It sounds like a heavily loaded statement implying it failed as opposed to being lifted so I'm confused
@Bitcoin_University
So sad to hear your lies and misunderstandings being repeated again and again. Please stop. Your channel is so misleading and dishonest.
Miners are competitive businesses. If ISPs only offered you 56k dial-up internet service for fear that the government would censor the internet, you’d be quick to note that 56k dial-up IS censorship be user it limits people’s access to data.
But apply the same logic bitcoin and miners ans you defend 1Mb blocks like an idiot.
‘Everyone must have 1Mb blocks!!!’
Why? Must everyone have 56k dial-up?
What are you afraid of?
If people have 1Tb blocks, you think that’s ‘unfair’?
You’re an idiot Matthew. Grow up.
It blows my mind how people can’t see the truth of what bitcoin is and will be plus having the potential to be… is it incompetence, incoherence, denial, or a flat out lie? Maybe a combo of all these things.
There's hope for it to be seen by everyone as safety and pile on. That's it. Till then…😢
No utility? Just check the blockchain. Bitcoin worth 10 to 100 billion US$ are transfered every single day. That's what I call a utility.
Of course it does
Matt, I was wondering if you could do a video explaining the market cap multiplier? Why if 1 dollar goes into btc, the price go higher than 1 dollar
Bitcoin , Cardano , Monero FTW!
"Shipcoins have more utility than Bitcoin" 😂😂😂 that comment is hilariously backwards. Say it again Bart!
You just destroyed my predisposition to hedge with shit coins.
Some awfully smart people backing bitcoin. There’s also a lot of people I thought of as very smart who I’m giving a second look. There’s also a whole party of pols that I thought cared for the common people. But instead are only interested in power. Let the sunshine on rotten politicians. Yeah, Bitcoin can do that.