The problem bitcoin solves — Saifedean Ammous

You can read the full article here:

https://www.spectator.co.uk/2018/11/the-problem-bitcoin-solves/

My response:

Someone asked, today, “what is the best use case for bitcoin.” I had trouble understanding the questions because bitcoin’s best use case is the use case that you apply. It’s like asking what the best use case is for email… I’ve used email for a ton of things, including an insecure distributed database. Bitcoin is similar; use it for the purpose that best fits.

Traders tend to focus on $btc (USD/BTC), which is easily confused for bitcoin… which also gets confused with Bitcoin Core. Knowing the difference between these things is common in our community, but it’s confusing to everyone else.

Saifedean’s answer to the “best use case” question is coming from the perspective of an Austrian Economist trying to solve macro economic problems. He navigates smoothly between competing narratives and perspectives about what bitcoin is, what it does, and how it’s valued. It’s one of many good “what is best” answers, and I’ve internalized what he has to say about this in his book “The Bitcoin Standard,” which is also worth a read.



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    November 8, 2018
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