Does Bitcoin Have Value? Does Gold? Is That Even The Right Question?

Understanding Bitcoin and cryptocurrency is a tricky thing because to a significant degree it’s not possible within the framework of how most people view reality. A smart man named Robert Anton Wilson wrote and spoke about something he called “reality tunnels” which are also called models of the world. People build a model of the world around us in our mind and we sometimes confuse the model for reality.

This video gets into the concept of value and what that word really is. It’s not one of my more usual non-technical explanations of technology but instead helps you understand a little about how we all interpret the world and by helping you understand that, it helps you understand Bitcoin and possibly a few other things at the same time.

Bitcoin is what is sometimes referred to as a Black Swan technology – the Internet is another example of a technology like this – its very nature is hard to grasp or even imagine before it is widespread.  I hope this video will help you make more sense of it.

A lot of people might need to watch this a couple of times to really get it – I bounce back and forth between a few ideas, but they all relate to one another and you need to understand them all to better understand bitcoin and altcoins as currency or as a commodities.

Video recorded May 15, 2014