‘Value is the future extended into the present.’

That is a paraphrase of something I heard this week and it really struck me. The only reason that we value something is that we have a sense of the future. No future, no value.

What makes us essentially human, is that we know that human-made things can be made in the future and there we conduct our activities in the present to make that happen. Of course, the future is uncertain and that needs to be taken into account.

Why Bitcoin has value is that we know what will be issued in the future. We also know what was made in the past can be used in the future. That’s it. That’s the value of Bitcoin.