What are the potential societal impacts of a significant shift towards Bitcoin-based economies?

Discover the key reasons behind bitcoin's value from scarcity and decentralization to network effects and institutional adoption, turning it into a trillion- ... May 14, 2021 ... ... bitcoin compete with or even replace existing fiat monies? To answer this question, one must be able to determine what gives intrinsically ... Digital assets, also known as crypto assets, are digital representations of value made possible by cryptography and blockchain. ... brings readers inside SBF's ... Everybody is talking about Bitcoin suddenly, its value even surpassed $65,000 in 2021. It is highly volatile, like one Elon Musk tweet on any cryptocurrency ... Oct 8, 2023 ... The fundamental issue for bitcoin is what gives it value, Prasad says, and its only value is scarcity. In contrast to the dollar, which the Fed ... So, bitcoin—like everything except happiness—has no intrinsic value. Bitcoin's value is determined by how it brings about happiness for the people who use it. Nov 29, 2023 ... From a purely mathematical standpoint, "value" is determined by how much someone will pay for it. (Bid/Ask amounts determine the current market ... Similar to gold, Bitcoin is sound money and does not require backing because inherent properties that allow it to be a good store of value, medium of exchange, ... The value of Bitcoin can be attributed to three main factors: security, supply, and demand. Security. The Bitcoin blockchain is considered the most secure ... Jan 17, 2023 ... Because cryptocurrency is not regulated, several factors affect its value, including demand, utility, competition and mining. · What is ...