Barbara Gutierrez
But what about digital currencies? Why is bitcoin valuable? choose Bitcoin derives its value from many of the reasons we have discussed above. Now let’s take a deeper look into the qualities that give bitcoin its value. On January 12th, Nakamoto sent 10 bitcoin to Hal Finney, and a new finance counterculture was born. At this point, the bitcoin’s worth was negligible. Users essentially gave each other bitcoins as rewards for good comments in forums. The first “real” transaction took place on May 22nd, 2010. Laszlo Hanyecz bought two pizzas for 10,000 bitcoin, or about $30. (At current prices, 10,000 bitcoin would be worth $38 million. I hope that pizza was tasty.) “Crypto as a technology and as a financial system, as much as you can call it, is very libertarian and very hyper-capitalist; the idea that your money is your money and it’s not going to be regulated, and if you lose it you should have been smarter,” said Molly White, a software engineer and crypto critic. “I wonder how a lot of these people who are saying it’s going to democratize wealth can hold those two things as true, because there’s no situation in which a hyper-capitalist, unregulated system will just sort of naturally trend toward a more equitable society.”
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