Thoughts from Mr White. :
Value is a tricky concept. It is often thought of as an inherent property of objects or ideas, but in reality, value is entirely subjective. Nothing has value other than that which we attribute to it. Gold, bitcoin, fiat money, and even human life only have value to those who give it value. The reason anything gains market value in the end is through mass adoption.
Gold...
Let's start with gold. Gold has been valued for thousands of years, dating back to ancient civilizations. It was prized for its beauty, rarity, and malleability. Today, gold is still valued for those same reasons, but also as a store of value and as a hedge against inflation. However, gold's value is entirely subjective. If everyone suddenly decided that gold was worthless, it would be worthless.
But surely Bitcoin is different, it has a limited supply...
The same is unfortunately true of bitcoin and becomes one of the strongest theoretical arguments against it. Bitcoin is a digital currency that has gained a lot of attention in recent years. It is valued for its decentralized nature and its ability to bypass traditional financial institutions. However, bitcoin's value is entirely subjective. If everyone suddenly decided that bitcoin was worthless, it would be worthless. Conversely, if (and perhaps when) there is greater mass adoption of Bitcoin it has the foundations and properties to become an extremely valuable item/commodity etc.
Fiat money is no different in terms of this sentiment although it doesn't hold any of the foundational properties of gold or Bitcoin. Fiat money is currency that is not backed by a physical commodity, such as gold. It is simply paper money that has value because the government says it does. However, fiat money's value is entirely subjective. If everyone suddenly lost faith in the government, fiat money would be worthless. This is the current battle that is being fought by the fed to retain global reserve currency status for the US dollar and by the likes of China, Russia and many other countries who feel slave to the dollar.
What value do we give to human life?
Finally, there is another most important angle to this idea. Human life is perhaps the most valuable thing of all, yet unfortunately it's value is also entirely subjective. In friendly well run societies there could be argued a common thread, whereby greater value and respect is placed on human life. There is a collective adoption of this value. In other countries and societies with higher crime rates, murder rates, lack of law and order etc, you can argue that there is simply a lack of adoption in the value of human life.
Perhaps then, as with everything in life it would seem that anything we create as humans whether that be gold coins, Bitcoin, Jewellery, fine art or whatever, it is always an expression of our human nature and our special ability to make choices and have free will.
So let us continue to highly prize and highly value our art, our efforts, our lives and anything which stands in support of these things.
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