Author: Venzen Khaosan 2015-06-28 16:37:18
Published on: 2015-06-28T16:37:18+00:00
In a discussion about Bitcoin's value, Aaron Voisine and Venzen Khaosan debated whether the price chart reflected greater value or price. Voisine argued that adoption as a store-of-value determined the price over the long term, while Khaosan pointed to speculative cycles and suggested separating Bitcoin's valuation in fiat terms from its fundamental value. He argued that Bitcoin's value was in the protocol, the blockchain, and its utility and degree of decentralization rather than the chart or user base size. Khaosan also stated that increased adoption would not strengthen fundamentals but emphasized the importance of scaling to safeguard Bitcoin's fundamental value and ensure quality of decentralization. Given the start of a new speculative cycle for Bitcoin and the possibility of a global liquidity crisis, Khaosan suggested starting tests of a larger block size or speeding up block time. Gavin Andresen has committed to tests of 8MB blocks.
Updated on: 2023-06-10T01:10:21.450515+00:00