The importance of bitcoin. Part Two

Faulty Bitcoin?

Why Bitcoin has value? For the same reason that gold has value. Why is gold worth something? Not only because of its characteristics. Those who speak of the "gold standard" as an axiom, not a collective hallucination, forget that the cost of an ounce of gold imputed much more than immanent. If we evaluated it only for its gold luster, ductility and conductivity, it would cost much less.

So valuable for many centuries, gold has done what he good at it to be valuable - that, as it turns out, is extremely difficult to do. Gold is difficult to forge; easy to melt, merge, split and transport; In addition, the amount is very limited (all ever mined gold reserves would fit in the four swimming pools). These qualities make gold and efficient medium of exchange, a measure of value ... or just money. Bitcoin also satisfies all of these factors!

For more than ten years alchemists-cyberpunks were looking for the digital equivalent of gold. Now it finally found and we expect ordinary people to understand its importance. However, it is a mistake that majority of the people are not using Bitcoins. They use gold. They do not need (or at least, not yet) "smart contracts" - the most original and interesting aspect of Bitcoin.