We Study Billionaires - The Investor’s Podcast Network BTC056: Bitcoin Fear, Uncertainty, & Doubt (FUD) w/ Dan Held (Bitcoin Podcast)
Dec 15, 2021
Dan Held, a leading voice in the Bitcoin community, explores the intricate dynamics of cryptocurrency. He dives into Bitcoin's intrinsic value versus fiat currencies and addresses the energy consumption criticisms. The discussion examines Bitcoin's perceived volatility and the ongoing regulatory challenges. Held also covers the Lightning Network's potential and explains why Bitcoin prevails over altcoins. With insights into the psychology of trust in financial systems, this conversation offers a captivating look at the future of Bitcoin.
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Bitcoin's Value as Money
- Bitcoin's value lies in its function as money, similar to the US dollar, euro, etc., as stated by the Federal Reserve.
- It doesn't require intrinsic value beyond its monetary properties, addressing a common misunderstanding about monetary theory.
Bitcoin as Energy
- Bitcoin can be seen as a representation of energy, stored without loss, unlike traditional energy storage methods.
- This perspective challenges the notion of intrinsic value, suggesting Bitcoin's value is tied to the energy used to mine it.
Bitcoin's Energy Use
- Bitcoin's energy consumption is often criticized, but all forms of money require energy.
- Bitcoin harnesses real-world energy to protect digital assets, ensuring unforgeable costliness.