Today we explore a highly earned Guy's Take for Dergigi's "Bitcoin is Digital Scarcity" as well as using a core part of his framing to make sense of a few fundamental ideas behind Bitcoin. Recently as well I continue to run into the question, what is Bitcoin backed by? And I think this misses the entire point of why our virtual monies today need to be "backed" by something else, and why Bitcoin is different. So let's dive in...
Don't forget to check out the episodes and reads mentioned in this Guy's Take at the links below:
Dergigi's "Bitcoin is Digital Scarcity"
Trent's "Five Examples of Bitcoin's Real World Utility"
Nick Szabo's "Shelling Out - The Origins of Money"
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