• Chris Tran

All That Glitters

Very few people understand BTC. Heck, no one really understands it.

Bitcoin in aggregate is worth over 1 Trillion USD today. You can buy a BTC. You can sell that BTC. The largest companies in the world invest in BTC, and at any given time, BTC has a clear value - vetted by millions of people over a trustless network of computers. This value may fluctuate over days, hours and minutes, but everyone around the globe agrees on its price at any given moment.

You cannot touch a BTC, never hold one in your hand. A Bitcoin is still worth more than 1kg of gold.

I would rather own a Bitcoin than your car. Your car is worth less than a BTC.

Bitcoin is powered by belief - a network effect. Organized religion shapes history and society through belief. Popular religions overpower unpopular ones. Faith manifests through places of worship. Scripture unites people in creating jobs, starting companies, shaping public policies.

Bitcoin works the same way.

Mass belief sustains this valuation. There are somewhere between 53-100M BTC owners in the world Each one of these owners, is a member of the BC faithful. The more BTC believers, the more valuable BTC becomes.

Bitcoin is even structured like a religion:

  • Prophet: Satoshi Nakamoto

  • Scripture: Bitcoin.pdf

  • Afterlife: Retirement, Financial Freedom, “The Moon”

  • Prayer: Checking BTC prices

  • Churches: Online exchanges and Social Networks

  • Clergy: Elon Musk

  • Heretics: Somehow, also Elon Musk

  • Competitor religions and cults: Ethereum and all other Cryptocurrencies

No one understands Bitcoin.

  • Structured like a religion.

  • Discussed like a tech company.

  • Financed like a stock.

Bitcoin is positioned to change the world.

I just bought some.

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