PROFESSOR COIN: WHAT GIVES BITCOIN ITS VALUE?
https://s.yimg.com/ny/api/res/1.2/bWVewPZbG2InG1PhuPKkrQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD02NzU-/https://media.zenfs.com/en/decrypt_157/f702535eb56a9621237226ce70bd9bee
✍️ The article discusses the value of Bitcoin, exploring various factors that contribute to its value, including scarcity, network effects, cost of production, and speculation.
👉 Scarcity: Bitcoin's supply is capped at 21 million, making it a valuable asset. 👉 Network effects: The value of Bitcoin grows with its user base. 👉 Cost of production: The energy-intensive process of mining provides a fundamental floor for Bitcoin's price. 👉 Speculation, sentiment, and attention: Investor sentiment and speculation play a significant role in determining Bitcoin's price. 👉 Role in the broader financial system: Bitcoin serves as a non-sovereign store of value.
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