Industry expert discusses Bitcoin’s utility and value, still seen as a point of contention

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Bitcoin, the largest cryptocurrency, has been on a wild ride since its inception. Different critics and supporters of the cryptocurrency have emerged over the years. A major criticism has been that BTC has no intrinsic value. Surprisingly, some even believe that the price of BTC should be zero.

Gain its value

JHL, a contributor to Serum, appeared in an interview with David Lin of Kitco News, where he discussed among other things the usefulness of Bitcoin.

What is the use of #Bitcoin? Should the intrinsic value be $ 0? JHL from @ProjectSerum talks about #Solana, #Ethereum and how to choose #cryptos as an investment

Full interview: https://t.co/dfR816X0oL@KitcoNewsNOW pic.twitter.com/fog3Cmlozw

– David Lin (@davidlin_TV) December 27, 2021

Right now, there are many other tokens or projects that are more useful than BTC. It’s undeniable. When asked if the price of Bitcoin should be zero because it has no intrinsic value, the young engineer said:

“That’s an interesting question… there are things that came before Bitcoin that could be in a similar position, like gold and those things are obviously very valuable now. So I think that doesn’t necessarily mean that the Bitcoin price should be zero.

It should be noted that the King’s Coin started at $ 0. However, over time it has gained in value and is currently around the $ 50,000 mark. Yet the concept of zero has worsened in the past.

Nassim Taleb, renowned author of highly regarded books such as Black Swan and Skin in the Game, believes that the true value of a Bitcoin is no greater than zero.

However, given the growing institutional adoption of BTC coupled with rising inflation, BTC is unlikely to leave the 5-digit mark. Here is another catalyst.

Bridging the gap

Regarding transaction speeds and costs, the contributor added that Bitcoin “will always be one of the fastest to process and one of the cheapest.” He added,

“You can’t say the same will be true of any other token. It’s just because Bitcoin is so big and so well adopted now that I think any blockchain that happens will likely have a big bridge between Bitcoin and this blockchain.

Regardless of the growing competition in the ecosystem, other tokens will likely have a way to link Bitcoin to them, he added.

Globally. A collective frenzy has germinated around bitcoin over the past decade. It is difficult to predict whether this cryptocurrency will become the world’s reserve currency or a store of value as widely accepted as gold.

The thrill of wealth or ruin leaves some investors wary, but others want to chase after the possibility of making huge profits by investing in Bitcoin. It cannot be denied that Bitcoin continues to gain attention around the world, whether for the use cases mentioned above or, as a breakthrough technology, and as an investment, it is certainly less. risky in 2021 than it was in 2012.

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