The Seven Primal Elements Of Bitcoin

The Seven Primal Elements Of The Bitcoin Brand

People tend to be dismissive about new forms of money.

This makes absolute sense because the value of a monetary asset resides primarily in the fact that other people are already using it.

In this sense, any attempt at introducing a new form of money into the world has very slim chances of succeeding.

In modern world history, governments have had a monopoly over money creation initiatives. Just imagine how everybody would react if a new monetary asset were to show up. If that asset were not even backed by a nation state, its chances of success would be even slimmer.