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IPFS News Link • Bitcoin

The Fundamental Value Of Bitcoin

•, by Kane McGukin

Without protocols, there would be no digital revolution and our entire lives would be drastically different.

Throughout, are snippets from Flavio Copes' Valley of Code that I'll use to explain why the value in Bitcoin lies more in the protocol than in the asset.

Flavio's site is dedicated to programming and learning other web-related skills. Several years ago, I stumbled across his work and was very impressed at how simply one of his tutorials broke down the core foundation of the internet: TCP/IP (Transmission Control Protocol/Internet Protocol).

In the past, I've written a few related pieces here and here. In this update, I hope to explain the fundamental value behind why Bitcoin/bitcoin is important.

Fundamentals are more important than price.

Over the long term, fundamentals are the true driver of any asset. Fundamentals are rooted in having a low time preference (Bitcoin Standard). Even though this mantra is a core ethos to the Bitcoin community you still consistently see fiat-brained, high time preference behaviors… Especially, near the end of bull markets.

This is classic TradFi behavior. A human emotion I'm almost convinced we'll never be able to remove as long as price is part of the equation. "Money" or rather currency makes us all do crazy things!

What shocked me about Flavio's breakdown was how simply he explained a rather complex topic, and how well it also describes Bitcoin. Having been more than two decades since I dove into protocols, network architecture, and other related details.