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June 16, 2025, 07:19:31 PM |
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Yes, in my opinion, Bitcoin can be thought of as digital land.
Similarly, Bitcoin can be thought of as digital gold... Similarly, the first cryptocurrency can be thought of as digital diamonds... Similarly, Bitcoin can be thought of as a reserve asset... Similar to Bitcoin can be thought of as digital US government treasury bonds, etc.
When a new entity appears in the world, it has to be explained to other people by referring to other entities (using appropriate analogies). That is why we sometimes compare Bitcoin to gold, diamonds, bonds, or land. But over time, such analogies become unnecessary. Some time passes, and we already know that Bitcoin is Bitcoin, and it is simultaneously similar to and unlike gold, diamonds, bonds, and land. Of course, one can visualize Bitcoin ownership through a (notional) digital land registry.
But, firstly, most owners of the first cryptocurrency would like to remain anonymous, and secondly, such a visualization (if it is implemented) in my opinion should be dynamic, that is, constantly changing over time. After all, transactions in the Bitcoin network occur every day.
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