Bitcoin derives it's value from it's use-case to store value, digitally across multiple nodes around the world in a decentralized way.
This means there is no entity to take down, or for to go mad with power. It simply exists as the internet does. If the internet or power goes down, the world would be fucked as it resolves into panic. But every single hard drive with a copy of the bitcoin ledger would have to be altered in exactly the same way (at the same time online) for the system to be hacked. Every hard drive would have to be destroyed for your reflecting balance on the last block to be lost. If your bank blew up, your balance would be lost. If your government goes mad with power, your fiat will become worth less than the labor of carrying it. Furthermore concerning value, there is a finite supply of bitcoin, a golden meteor can hit america and wipe it out, killing the demand for it, while doubling the supply. If civilization is truly entering an awakened state, our materialistic value would fall away and gold would be worth the little use case it has.
Please see my post on the good and bad side of what's going on in the crypto world now:
Congratulations! This post has been awarded a 100% upvote by @lottobot! This post was selected from among all recent posts as the winner of lottery #755, which had no valid entrants. You can win again by entering in @lottobot's regular lottery! To nominate a post for the regular lottery, just send 0.1 SBD or STEEM to @lottobot, and include the url of the post you would like to nominate as a memo. Learn more by reading the introductory post! Good luck!
Bitcoin derives it's value from it's use-case to store value, digitally across multiple nodes around the world in a decentralized way.
This means there is no entity to take down, or for to go mad with power. It simply exists as the internet does. If the internet or power goes down, the world would be fucked as it resolves into panic. But every single hard drive with a copy of the bitcoin ledger would have to be altered in exactly the same way (at the same time online) for the system to be hacked. Every hard drive would have to be destroyed for your reflecting balance on the last block to be lost. If your bank blew up, your balance would be lost. If your government goes mad with power, your fiat will become worth less than the labor of carrying it. Furthermore concerning value, there is a finite supply of bitcoin, a golden meteor can hit america and wipe it out, killing the demand for it, while doubling the supply. If civilization is truly entering an awakened state, our materialistic value would fall away and gold would be worth the little use case it has.
Please see my post on the good and bad side of what's going on in the crypto world now:
Bitcoin 'If you can't beat the good guys join them', What market segment are you investing in?...... a solution to forks.
https://steemit.com/bitcoin/@louwtjie/bitcoin-if-you-can-t-beat-the-good-guys-join-them-what-market-segment-are-you-investing-in-a-solution-to-forks
Congratulations! This post has been awarded a 100% upvote by @lottobot! This post was selected from among all recent posts as the winner of lottery #755, which had no valid entrants. You can win again by entering in @lottobot's regular lottery! To nominate a post for the regular lottery, just send 0.1 SBD or STEEM to @lottobot, and include the url of the post you would like to nominate as a memo. Learn more by reading the introductory post! Good luck!