For years, analysts have gone on channels like CNBC calling Bitcoin “digital gold”, and many everyday crypto investors truly believe that. But gold has been a “store of value” for millennia. Could Bitcoin, as we know it today, retain its value long term, say even just fifty years? The simple math tells us it likely can’t. Lets dig into why.| Key Discussions
Chances are, you know what Bitcoin is. After all, it’s valued at over $47,000 per Bitcoin right now. This post isn’t about the business side of things, though, or the BTC speculative bubble. I want to explain how it works.1 Foundations: Hashes and Ledgers First, a hash algorithm is a way to convert a given string into an unpredictable string of a fixed length, called a digest. Here’s a small Python program to demonstrate:| asthasr.github.io