What it Means to Have Faith in Bitcoin
For whom does Tinkerbell's Light shine?
The price of Bitcoin, like any belief about the future, is based on faith — “expectations” in economics. Whether that faith is well-placed depends on whether the underlying expectations are sound or not. In the case of Bitcoin, the market’s collective expectations — its faith in Bitcoin — is, I’d argue, a good deal sounder than its faith in paper money.
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