Nima Posted January 4, 2017 Posted January 4, 2017 I wrote a new post about how Bitcoin's value proposition can be correlated with general mechanisms by which any fiat money economy operates, as I've explained in some recent posts on this forum here. Here is the conclusion from that article: In other words: people ultimately hold Bitcoins, because everyone needs Bitcoins to submit a new entry into the blockchain, usually for the purpose of making a Bitcoin transaction; however, in many cases, this is also just in order to submit a hash into the Blockchain that proves the existence of a document (or other data) at a certain point in time. This is just one example of Bitcoin usage that is not facilitating the exchange of goods and services.
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