The recently-held CoinGeek Conference in London was a huge success for Bitcoin and cryptocurrency in general. It provided a great opportunity to see the overwhelming development being led on the Bitcoin SV blockchain, as well as to engage in some discussions over what Bitcoin truly means to the world’s economy.
On hand for the event was noted economist, author and investor George Gilder, who sat down for a fireside chat with Bitcoin creator and nChain Chief Scientist Dr. Craig Wright. Despite being someone who comes originally from a conventional financial world, Gilder has not at all been reluctant to recognize the important role Bitcoin has as the next step in currency.
One of the most poignant observations Gilder made during the discussion was how almost all cryptocurrency projects, with the exception of Bitcoin SV, have a misguided view of what digital currency fundamentally means. He asserts that turning crypto into a commodity voids its purpose, creating a circular system that would hold no value. Gilder explained, “I’m still a little confused about… if you create money as a commodity where people can prosper by hodling, you nullify it as money. Money is valued by its utility.”
Check out the banter first-hand in the recorded version of the discussion. It’s insightful and helps clear up a lot of the misconceptions that have been developed by those who don’t truly understand the nature of Bitcoin.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.