Hacker News Reader

I can't speak for Bitcoin's price, but the network's value is a global distributed ledger of transactions (debt) that has proven to be fault tolerant over many years. I think the store of value stuff is a bit of a bubble, and it relies on hodlers keeping the price up over time

View on HN

> but the network's value is a global distributed ledger of transactions (debt) that has proven to be fault tolerant over many years.

This strikes me as both true, and difficult to put any real value against. It's an existence proof more than practical use cases. Intuitively the value of that alone is both non-zero, and a lot less that BTC "valuation" - but where in between?

Reply on news.ycombinator.com