#asknostr
I've been trying to orange pill a good friend of mine, I read this article https://fee.org/articles/what-gave-bitcoin-its-value I found on nostr:npub1lxktpvp5cnq3wl5ctu2x88e30mc0ahh8v47qvzc5dmneqqjrzlkqpm5xlc webpage (thanks btw) It was the first article that landed - it answered the question of why does it have value for him, which he was struggling with and with which I was struggling to eloquently get across to him.
Question now though, but he had a reasonable followup statement and question: I would still have some reservations about the fair value of it. Was he saying it's worth 100,000 because of the number of people using or what?
And honestly I'm asking the question too, why is Bitcoin worth the amount it is? (in fiat terms, lets start with that anyways)
I was going to mention about 'Metcalfe's law' as it's what he's referenced essentially.
Anyways, thanks for reading - and for any forthcoming answers!
