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BTC199: Bitcoin's Collateral in Real Estate w/ Leon Wankum (Bitcoin Podcast)
We Study Billionaires - The Investor’s Podcast Network
Value is Subjective: Understanding Money Beyond Cash Flow (Bitcoin vs Real Estate)
Value is subjective and does not derive from intrinsic qualities but rather from what individuals are willing to pay. This concept, rooted in Austrian economics, illustrates that the perceived worth of goods or services, such as a Rolex watch or real estate, is determined by market demand rather than inherent features. Real estate's rising prices are not solely a reflection of utility but are largely influenced by its role as a store of value, similar to how Bitcoin operates. Despite Bitcoin's lack of traditional cash flow, it should not be classified under the same investment criteria as real estate, as its primary function is as a form of money and savings. Real estate gains value as it is perceived and utilized as money, a concept that ties into currency debasement. Bitcoin offers advantages as a superior form of money—it is scarcer, highly liquid, mobile, divisible, permissionless, and programmable, thus serving as a more effective savings vehicle in the digital age.
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