The Better Bucket

Image credit:  Jeremy McKnight

Image credit: Jeremy McKnight

Bitcoin is often said to be a store of value, similar to gold. And as dull as that sounds, it is by design that it is so limited. When you look at the broad applicability with smart contracts in Ethereum for example, Bitcoin has a truly limited feature set, which is ok:

β€œIn the case of Bitcoin, its real utility is really just a bucket, it's a bucket to store value. Make no mistake that the majority of asset value in the world is derived from players parking value into an asset for storage. Whether that be a house, a lump of gold, or even, to a lesser extent, stocks.” - Utility is a red herring, look for organic store of value

As a store of value Bitcoin is doing a decent job, looking at network uptime, security, etc. When compared to gold, there are some distinct, mathematical advantages for Bitcoin that will give it a decisive edge in the future.

Despite the sexy image of blockchain and associated technologies, sometimes all it takes for the world to notice is a better bucket. And after the better bucket is embraced, next steps for innovation and disruption can be successfully deployed.