Topic: Why we say the creation of Bitcoin is an Internet of value? (Read 429 times)

The creation of Bitcoin opened up doors for more opportunities, and I got to say OP, you have quite a handful of remarkable topics around the forum, you're doing a great job, anyways, Bitcoin is indeed an Internet of Value because it has given us options to earn, trade, sell currency digitally, and since Bitcoin and Internet is interconnected with each other, it will evolve just as how Technology evolves.

Bitcoin won't work and be recognized as the top coin today if there were no Internet, to begin with. Back then, to acquire bitcoin, you can mine using different mining setups such as having supercomputers and mining rigs. Of course, these things won't be possible if it wasn't for the help of the Internet existence. Over the years, bitcoin has made its way upward until it reaches the peak position, just where it sits right now all thanks to the power of the Internet. The internet paved way for bitcoin to have many users and investors and eventually started to have value because of the market demand. Given that bitcoin is scarce, just like gold, its value will go up over time, only that it is volatile. Meaning, sudden dips, and rise should be expected from time to time. Bitcoin won't be able to go this far without the help of the Internet. The interconnected networks helped our community to grow in numbers and built the status gradually as improvements happen.

“Bitcoin is leading the migration of mankind from the Internet of information to the Internet of value.”

This is really a new term for the internet, but don't you think that information is also valuable? And is it so valuable sometimes? The information that was exchanged via the Internet, which led to the spread of culture and awareness, and contributed to the flourishing of human civilization, and turned the world into a small village, is not it also valuable? It is not necessarily a material value, but it is a moral or cognitive value, which I see as much more important than the material value.

The adoption curve have been constantly rising and you could see many countries on the verge of accepting btc as legal tender or to pass regulations for their usage following the steps of El Salvador and yes in coming time we will see almost all of them implementing the same decision.Bitcoin has come a long way and it will survive the coming time as best decentralised cryptocurrency using blockchain technology.

I accept your points of views because theirs a cogent reasons behind it, because we have multiplication of things that uses internet for accessible functions, it's not only bitcoin that requires internet facilities or function, other things that requires installation of a database are also needs internet, communication also needs internet to process information to various designations, so actually internet already in existence before introduction of  cryptocurrency popularly known as bitcoin.

You're absolutely correct that blockchain technology was introduced by Satoshi. Blockchain and Bitcoin are two different things though because Bitcoin is an application/system that uses blockchain technology.

The blockchain technology is highly rated by even bitcoin naysayers because it can be used for countless purposes.

I think he means that if Bitcoin was not introduced we won't have the blockchain technology. I guess he meant something else and ended up meaning something else.

If Bitcoin didn't existed, there won't be a blockchain, If the blockchain didn't existed we wouldn't have Bitcoin. Does this make sense .. haha even I am confused now lol.

Number 2 is a very important fact that many people deny its existence if they do not actually live it. For example, do you know the loan ratio of Whites to Blacks in USA? It is a staggering 83% to 17%. This was about 11 years ago of course, I am sure there must be some improvements but that was the case when I wrote my study on financial inequality 11 years ago. So that means banks loan to whites 87% to 17% (removing all the other ethnicity, otherwise both drop a lot more, Asians surprisingly get a lot easier loans, no inequity there).

So bitcoin closes that gap, they are not given that much of a damn if you are white, black, European, American, Asian, African nobody cares, no religion, no anything. You are just who you are and nobody gives a damn who you are and you get to be all equal with everyone. That is a huge deal, it allows people to actually become free for the first time.

Yes ,Bitcoin has created a new value network.The emergence of the Internet has created many Internet business models, and has also brought about the rapid development of society.
The emergence of the Bitcoin Internet of Value will inevitably bring new rules and orders to the crypto world.Bitcoin network built a value transmission network where value is exchanged and transferred in the form of Bitcoin.Through the Bitcoin protocol and its network, we are in the digital world, transferring value without the need of any intermediary for endorsement.

The internet of value is not only bitcoin, but any fintech technology that uses internet to create a network effect. There is some confusion on this, it is not enough to use internet for business, which pretty much everyone does, it is about using internet to create certain effects that do not only improve the productivity or the comms, it is much more about making growth exponential and using that to create a network of users. Bitcoin is clearly one of the technologies that has achieved that goal.

The whole thing is weird since the point about data being safe is completely wrong. We most of the times have to depend on third parties for the whole point of keeping it safe which itself is very hard concept to grab and we have to understand the fact that things can go wrong any moment, but when we talk about bitcoins, as a whole concept, it changed the whole scene faster than anything, you do not have to depend on a third party and you can own your own money. That's why when the companies start and label bitcoins as a part of their investments for funds or for people involved in them, its stupid to even go there.

We can now clearly point out that there is currently no single force that can eliminate Bitcoin, nor can it completely prohibit the use of Bitcoin. This is the same for the governments of various countries. Therefore, for the government, the future can only adapt to the existence of Bitcoin and enact various laws for Bitcoin. However, Bitcoin itself belongs to the entire world, and it is difficult for the power of a single country to completely restrict it through its own single law. So in the future, the only possibility is that more and more countries begin to recognize the status of Bitcoin as legal tender. No one can stop this trend.

I'd be tempted to give you merits for your post if it didn't start off with seemingly nonsensical sentences like the ones above.  Am I missing something?  Bitcoin and blockchain technology were introduced simultaneously, right?  Someone correct me if I'm wrong, because from what I've read, there was no such thing as a blockchain before Satoshi introduced bitcoin. 

And bitcoin is just an application of a blockchain, so I'm not sure what you mean by your second sentence there.  I just came to this thread to help out a member with a post history review but started reading other posts, and man....this section is going downhill fast.

Yes, we can say that the Internet is now completely controlled by centralized giants, and all data is also controlled in centralized servers. On the one hand, these data may be stolen, on the other hand, these data are abused by centralized platforms for profit. But when Bitcoin was born, it made a peer-to-peer distributed database possible. All data is stored in the p2p network. At the same time, these data are open and transparent, and anyone can access and use it without restriction. Bitcoin has brought human beings into the value network.

but if we compare banks with bitcoin, then we cannot forget the role of government which is behind the scenes about the future of both. bitcoin does have some advantages, but no matter how good bitcoin is without permission from the government, I don't think it will be what we expect, but on the other hand we believe that bitcoin will be able to adapt to developments in the future so that even the government needs it.

There has been tries to make the internet a p2p place as well. What does internet consists of? Basically data, its all data, and it has to be stored somewhere right? Just youtube alone is so vast that you wouldn't believe how many computers would it require to sustain that, probably a whole nation worth depending on the nation we are talking about, bigger than certain nations whole computer numbers.

However the logic is that if we could actually end up making internet p2p like blockchain is, we could potentially make it work, right now it is not enough, even if every single human on the world have computers that are open 7/24 it is not going to be enough, but we are getting there, the computer technology is getting there, internet is also growing at a faster speed so that is going to make it difficult, but it is not going to be impossible, we just need more data space on computers in the future, and that is exactly what quantum computing is focusing on, we may not need a lot of central data bases in that case.

The difference between blockchain and the internet that exists today is in the central storage. Today's internet is highly centralized or all activities are stored in central servers. One of the drawbacks is that if the server is attacked by cyber criminals, the entire operation of the organization or company will be disrupted. But blockchain is able to avoid these risks.

Secure and well-distributed blockchain network. All parties will be directly connected to the network without the need for large bandwidth and sophisticated infrastructure. Each node of the blockchain can be connected only to the wifi network.

So far, blockchain technology is known for digital currencies, such as Bitcoin, Ethereum and others.

Blockchain is a technology that cannot be seen directly, but humans can feel the benefits. Like digital money, the holder cannot see the physical form of money like currency but there is a binding value in it. Blockchain can be used as a transaction tool for buying and selling goods, even being exchanged for currency through digital asset exchanges.

So I dare say, Blockchain is as 'the next internet'.

Blockchain will also benefit many other industries in the future.

You forget that bitcoin has innovation that are far more useful than just a currency or trading asset. Read more here: Am I the Only One Who Forget The Innovation of Bitcoin ?

People's trust in bitcoin has made bitcoin even more valuable and that's because of its ever-increasing demand. Not only used as a trading asset, bitcoin has the same uses as a currency and what sets it apart is that no one person or group can control it. It is a decentralized asset and people who completely distrust the banking system really hope that bitcoin can help it. Meanwhile, bitcoin is still a growing asset even though it has scaled better than its past.

Over the centuries mankind has developed very quickly, as far as I know, from 1974 the internet started to appear. At that time the network was still called ARPANET. In 1983, the TCP/IP protocol officially became the standard of the US military and all computers connected to ARPANET had to use this new standard. From a worthless internet, people have become valuable and these are the new turning points of human development. Just like we want to grow, we have to accept the new and BTC as the product. on the development of internet technology.
Bitcoin has a lot of useful things for humans like .

1. everyone has the right to financial freedom no one has the right to control
2. who is discriminated against by the current financial system.
3. who lives in a place that wants to transact quickly with another country.
4. who wants long-term and safe storage with high security.

Bitcoin's underlying blockchain technology uses a decentralized consensus mechanism to build a credible free transaction network that is open and transparent and does not rely on any third party. Bitcoin network technology promotes the creation and transaction of social value, and transforms the Internet from the Internet of Information to the Internet of Value.
Blockchain technology can solve is value transfer, making transactions independent of trusted third parties, and value can circulate safely and quickly like information. Its open and transparent characteristics not only make the transaction process convenient for supervision, but also prevent the occurrence of repeated transactions. While this improves safety, it also greatly improves efficiency. The Internet as an information highway, will become a value highway with the help of blockchain.

a banana never asks for money.
a banana has no value or cost.. what does..
the people farming the banana..

people farm the banana because other people want the banana. its nutritious

bitcoins values(features and benefits) come from its ease of transactability and cheaper to use than gold

bitcoin value(economic) comes from initially the cost of acquiring it. (mining) and then when people buy it from miners. the acquired cost from those buyers who wont sell for less than their cost

same with banana's
a banana costs nothing. but the labour and the effort of the farmers. and then once bought from the farm the labour and effort for the distributors/wholesalers.

everything in life is initially free. its the human cost of getting involved that then puts a value on it.

for bitcoin to have a value. it needs to have values(features and benefits(a utility/need))
if bitcoin became useless to people. then the desires and values will drop. which will impact the value

if no one wants it. then no one will mine it or keep it. it needs to solve a purpose.
so all this talk about offramping utility away from bitcoin into other networks is taking that utility away. making people not want/need to care about onchain transactions thus no need/desire to want to monitor the network. meaning less need to secure the network. and so on and so one

commodities are raw materials mined/grown and processed to create new products.
bitcoin is NOT a commodity and should not be compared.

value and values are 2 different things too.
values are the features and benefits
value is the economic measure


bitcoin value. (economic measure) is currently like

54% cost of mining it at its cheapest location in the world
21% regional adaptive cost/support
   25% speculation/emotion/hype

lets call its VALUE is 75% of price.

as for values
the ease of access and transport and transactability compared to physical assets like gold is a good benefit
the ease of security(private key) is better than a bank safe deposit box
and so many more.

as for 'internet of value'
well back in say 2010-2012 when bitcoin was the sole crypto of any significance. yes it was deemed as the internet of value.

but now there are so many others that its not THE internet of value. but A internet of value now.
many places over the internet are using other networks to move their value.
i personally dislike all the altcoins. altnets and subchains and sidechains and altnets pretending to be bitcoin or pretending to be better then bitcoin.
but the world is, as the world is.. a place where many things have to co-exist. and bitcoin has to compete

The value is contaminated into material value and intangible, if we are talking about bitcoin, then it is intangible but carries a huge material value, but on the other hand it is not backed up by anything in fact, for example, in gold, for example, I would attribute a more tangible value, or tangible than bitcoin ...

It's the first time I have heard of the term Internet of Value. Did a little reading about it and got to know what it is. Bitcoin can be said that it's an internet of value, but there are some points that seem very contradicting. Things that are internet of value has properties like being able to transfer almost instantly, securely and at low cost. But we seem to be missing all those properties when the bitcoin network is under heavy usage. We see slow confirmation time and absurd fees. So is Bitcoin really an internet of value?

why the creation of bitcoin is a valuable internet,,,?? the answer is simple, because the presence of bitcoin has a very positive impact on the internet, because many people who hold bitcoins must use the internet, to make transactions, bitcoin most likely will not work without the internet, and bitcoin can not do anything without the help of the internet.

Regardless of whether the country or government actively recognizes Bitcoin, Bitcoin will still exist there. Bitcoin relied on technology to create the Internet of Value. In my opinion, this is a leap in the level of human civilization. Because Bitcoin is the currency of the people. More and more people will awaken because of the Bitcoin consensus and begin to embrace the new era. When a person breathes fresh air, he will never return to that turbid society. I believe that Bitcoin will lead us into a new era.

Then you definitely don't understand what Bitcoin does simply by existing. Everyone born today has to accept that the state they are born to is what determines their value, the value they produce, own and send. Bitcoin for the first time allowed anyone to use a system that was free from the state and yet also free from the determination of other entities (which makes it very different from altcoins whose value is also determined by the creators of their networks).

That's a very good reason for states to not recognize Bitcoin.

Actually there is no reason for the state not to recognize the existence of bitcoin, if a country does not recognize the existence of bitcoin, they are the same as not wanting to acknowledge the existence of the internet, because the internet and bitcoin cannot be separated at all, bitcoin will never be able to develop without it. the help of the internet, I don't think the internet will develop if there is no bitcoin, which helps him..

Bitcoin's value transmission is based on the comparison of Internet information transmission technology. 

Value Internet is a reliable network that realizes the collaborative interconnection of various industries, realizes the interconnection of people and everything, and realizes the efficient and intelligent circulation of labor value.

It relies on the traditional People may rely on the impartiality, adjustment, and arbitration functions of the center, and hand it over to a trusted machine for automatic execution in accordance with an agreement recognized by everyone.

In fact, the above content is given to the development of blockchain technology. Bitcoin assumes the function of currency, and it does not require a third party to participate. Bitcoin solves the problem of information asymmetry and perfectly realizes the establishment of a trust mechanism.

It can be said that the current Internet is the Internet of Information, and the network constructed by Bitcoin can be called the Internet of Value. It allows value to flow freely, divide, trade and circulate in the network. This is a brand new era and the future of human civilization.

Yes, value is largely the belief of the community. The stronger the belief of community members, the higher the degree of recognition of it, and the greater its value. Hi, DapanasFruit, thank you very much for your recognition of my articles. I am also very happy to have friends who really like them. I recorded my thought process and shared it with more friends. Hope that through mutual sharing, we can all improve.

Many people believe that Bitcoin is the money of the internet and I subscribed to this adage as this can be true and into the future. Value to me is what a critical number of people attached to something, that is when we talk of a community and in this case the people who believe and support Bitcoin wherever they might be so the more people who are getting onboard with Bitcoin we presume that the more its value to rise hence massive adoption can be so important and this is where the governments can be coming in which is to disrupt the disruptor. The perception of value can also be subjected to individual convictions but what is paramount is that of the community. In the end, no matter how valuable we perceive an asset to be if the community decides that it is not so anymore then there is nothing we individuals can do. So far, Bitcoin is doing well on this department. By the way, I am always mesmerized reading your posts here in the forum, thanks for that experience.

I can say everything about cryptocurrency originated from internet and bitcoin can't work without internet, the technology of this period is giving a blessing hand to us, now bitcoin has turn to the order of the day because of it's gravity for values, and fast awareness of online advert I'm sure no place like country is not aware that digital currency exist.

Bitcoin opens up a different dimension of value. Just like ships unlocking water navigation and airplanes unlocking air voyages, Bitcoin unlocks a new alternative layer, storing and moving value as the first local digital asset. All the attributes of Bitcoin come from the ability to exist completely in that digital world. It cannot be attacked in physical space like physical assets.

Over time, the impact of this will only become apparent, but we can already speculate that Bitcoin may be very useful for:

1. Anyone who lives in a place where local property rights are weak.
2. Anyone who is discriminated against by the current financial system.
3. Anyone who lives in a place where the local currency is weak and the risk of inflation is high.
4. Anyone who wants to store or move meaningful value (the highest value requires the highest security)

Using Bitcoin gives these people the ability to collaborate more effectively, increase their productivity, and thus achieve their prosperity. It allows them to save money for the future, build capital that can be invested in more productive companies, and allow them to participate in global trade in other countries around the world.

I don't think that the creation of Bitcoin is the Internet of Value.

Bitcoin is the first currency to connect the value of the currency system with cryptography. If you use the same algorithm to invent another currency, if you can persuade the same number of people to use it, that's right, the value is indeed equivalent.

In extreme terms, any kind of cryptocurrency is worthless at the beginning. In the future, their value may surpass all currency systems, as long as there are enough users.

From the Internet of Information to the Internet of Value, Bitcoin is a powerful promoter.

Blockchain is known as the core key technology driving the Internet revolution. It has two characteristics that cannot be ignored: First, decentralization. When people do not know each other, point and point, end and end, blockchain technology can build trust, save costs, and improve efficiency. The second is that the blockchain will not be forged, and the information is highly transparent.

After Bitcoin completed a great attempt, the technology was defined as a blockchain.

Bitcoin relies on the Internet to perfectly carry out value transmission instead of pure information transmission. We can call this process a P2P contract. This kind of contract is based on unconditional trust, so it can be endorsed by the trust of a third party (sovereign currency).

Bitcoin will bring us into the era of value Internet. In the era of value Internet, the exchange cost of value is lower and the flow is more convenient. It will greatly change the existing business model and the lifestyle of each of us. This is a great change.

I think the internet has previously been a great tool for businesses to reach their data and manage it. The problem of placing data on the internet is that it is not safe, secure and difficult to control systematically. Blockchain has helped people really take the internet to the next level. Currently, many large and small companies are bolder in applying blockchain to their corporate governance. The result is security, lower management costs, and more accurate information through Oracles.
The security and immutability of the blockchain attracted users to crypto. People can keep their money on the internet safely and the transaction speed is faster than the traditional banking system.
I call the birth of blockchain and crypto the financial evolution, people call it FINTECH. That is the new and inevitable direction of human development.

Apart from trust, value is another crucial word in Bitcoin. We often say that Bitcoin has created an Internet of value. Why? Before discussion, let's look at a fable.


Any inspiration? Value, a very simple word but vital in the evolutionary history of human civilization. It is closely linked to everyone, like air. We can't see it, but we feel it every moment. Take investment for example, the emergence of Bitcoin emphasized the significance of value in investment because the network built by Bitcoin is an Internet of value. Bitcoin is leading the migration of mankind from the Internet of information to the Internet of value. That is getting recognized by more and more Bitcoin believers.


So what is value? It has many definitions. I’m gonna put the philosophical principles aside, to think about value in economics.
That is, the amount of labor in the construction of this commodity, which is presented in the form of value. In that fable, the value in two same bamboos varies based on how much work is done.


Undifferentiated human labor or abstract human labor condensed in commodities is one of the basic elements in commodities. Commodities with different values can be exchanged with a certain ratio. For instance, a sheep can exchange 20 feet of cloth since between them, something common and comparable exists, namely, undifferentiated human labor in commodity production.


The undifferentiated and abstract human labor is condensed in the commodity, so value is formed. We can see that the value of the commodity has this characteristic: function in use endows a commodity with value. Use value is the bearer of the existence of value. Value is invisible and intangible, which can only be manifested in commodity exchange.


Value reminds us of price. The value of a commodity and its price are related but different. The difference is, value is the basis of price, and price is the manifestation of value. The connection is, value determines price, and price fluctuates around value. The price of a commodity is the currency expression of the commodity. Due to the law of value and other factors, from the perspective of a specific exchange, the price of a commodity and its value are often renegade. But in general, commodity price still conforms with its value.


Value can be seen sorely in the exchange of commodities. It embodies the social relationship in which commodity producers exchange labor with each other. Essentially, it's a kind of relation of production.

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So what's the connection between value and Bitcoin? Bitcoin, in nature, is the product of value. When we trade Bitcoin on the Internet, we are actually trading and transferring value. As is mentioned before, Bitcoin has material property, which is in fact a kind of manifestation of value. Bitcoin network built a value transmission network where value is exchanged and transferred in the form of Bitcoin.


To understand what is Internet of value, we must first know its definition. The Internet we are currently using is substantially the Internet of information where information flows. I send you a video and you receive a copy of this video, which is still on my computer. Information can be copied and transferred with no limitation if condition permits. We can transmit information through the network, but we cannot directly transfer money. Only by a centralized intermediary agency, money can be transferred because our accounts are recorded by the bank.


In the real world, we can deliver valuable items. If I give you an apple, then I'll lose it. This is governed by physical rules. Any object in the material world is unique and cannot be copied. Bitcoin realized some of the characteristics of the physical world, it fulfilled the transfer of material, which is essentially value.


In the global Internet ledger of Bitcoin, Satoshi Nakamoto created something similar to cash. In the physical world, I give you $100 in cash, then it's gone for me. In the Bitcoin network, if I transfer a Bitcoin to you, then it's gone for my account. At this moment, the value of this Bitcoin matters not. It might be 1/5000 pizza or $40,000. Through the Bitcoin protocol and its network, we are in the digital world, transferring value like cash between people, without the need of any intermediary for endorsement.


The existing Internet protocol can only transmit information which can be copied infinitely, while the Bitcoin network can transmit value, which is tamper-proof and cannot be copied. Bitcoin has created a new value network. We are coining a new encrypted world in accordance with the ideas of Bitcoin, which is inherently capable of delivering trust and value, resetting the value system and rules and order. Bitcoin is leading the migration of mankind from the Internet of information to the Internet of value.

That’s my point. What do you think?