{"id":132329,"date":"2020-05-04T15:00:55","date_gmt":"2020-05-04T14:00:55","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=132329"},"modified":"2021-04-22T12:04:26","modified_gmt":"2021-04-22T11:04:26","slug":"analyst-central-banks-are-making-buying-bitcoins-intrinsic-value-common-sense","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/analyst-central-banks-are-making-buying-bitcoins-intrinsic-value-common-sense\/","title":{"rendered":"Analyst: Central banks are making buying Bitcoin’s intrinsic value “common sense”"},"content":{"rendered":"

One of the most common critiques of Bitcoin is that it \u2014 or its intrinsic value in particular \u2014 is too hard to understand. They make comments like “just use PayPal<\/a>” or “why should we use a currency created by computers.”<\/p>\n

But according to a new essay by Parker Lewis<\/a>, a noted writer in the space and head of business development at Unchained Capital, the macroeconomic environment has reached a point where Bitcoin's purpose has become “common sense” \u2014 much unlike it may have been years ago.<\/p>\n

Bitcoin is “common sense”<\/strong><\/h2>\n

As this outlet has heavily detailed<\/a>, the past few months have seen central banks and governments around the world go into overdrive to combat both the health and economic effects of the outbreak of COVID-19<\/a>.<\/p>\n

It's a trend that is proving Bitcoin's purpose, Lewis wrote in a May 1 essay titled “Bitcoin is Common Sense<\/a>.”<\/p>\n

He explained that with the U.S. Federal Reserve, Bank of Japan, and European Central Bank have increased the supply of their “respective currencies by $3.3 trillion in aggregate” in the past two months, the chance at unforeseen monetary effects has increased.<\/p>\n

Now contrast record-level central bank money printing with the fact that Bitcoin's halving is a mere 10 days away and you have two very “divergent” systems: a centralized form of money that is being debased without agreement amongst the holders, and a decentralized form of money that is scarce and transparent.<\/p>\n

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Gradually, Then Suddenly (#14): Bitcoin is Common Sense<\/p>\n

21 million bitcoin ever vs. $2,500,000,000,000 dollars created by one central bank in just two months. Money still doesn't grow on trees and there ain't no thing as a free lunch.https:\/\/t.co\/MCAu7N0bbM<\/a><\/p>\n

— Parker Lewis (@parkeralewis) May 1, 2020<\/a><\/p><\/blockquote>\n