utxo the webmaster 🧑‍💻 on nostr

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The chicken and egg problem is in your last sentence. If its not a good store of value to begin with, I wouldnt accept it as payment for my goods and services. So it needs to bootstrap by doing a bi...

utxo the webmaster 🧑‍💻 @utxo the webmaster 🧑‍💻 1784290348

The value comes from the exchange relative to foods and services

Bitcoin got it's first "value" when it was used to buy pizzas

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I would argue bitcoin had value even before the pizza purchase, but it was priced in fiat terms after that event. I would also argue it is a stronger store of value today than it was at the time of the pizza purchase. (More decentralized, bigger network, yadda yadda) Clearly, it is a better medium...