{"type":"rich","version":"1.0","title":"a source familiar with the matter wrote","author_name":"a source familiar with the matter (npub17k…mhcd0)","author_url":"https://yabu.me/npub17k64766yhzvhk2mws356dftl35lnkthjwq34gdz9cs8va3y9aejqwmhcd0","provider_name":"njump","provider_url":"https://yabu.me","html":"\"Most forms of money rely on physical objects to represent entries on the ledger\"\n\nYou have it backwards. A ledger has value because it represents something real.\n\nIf Bitcoin is a ledger, it is useful but not scarce. I can duplicate the whole ledger many times over.\n\nIf Bitcoin is a ledger entry, it is scarce but not useful.\n\nIn either case the only appropriate market value is zero."}