💎 Why Is Bitcoin Valuable?

Author

Hector Alvero
July 02, 2024

Welcome to the Rhino Roundup, your weekly dose of industry news, platform updates, educational content, and fun memes in the world of Bitcoin.

Rhino Feature Spotlight 📢

Created by Bitcoiners, for Bitcoiners, Rhino offers a range of services: buying and selling Bitcoin, withdrawing to cold storage, and paying with Lightning.

Purchase gift cards with sats at the click of a button and even connect to Casa for multisig security.

Additionally, you can send cash globally to family and friends. Soon, you’ll be able to pay bills, borrow money, and save Bitcoin for your retirement—all in one seamless, secure app.

Featured Article

Bitcoin as a Social Construct

Like gold or shells used in ancient times, its value stems mainly from collective human agreement.

Unlike physical commodities, Bitcoin's value as a social construct is amplified by its technological framework—a robust, decentralized network of participants financially incentivized to enforce the same set of rules.

Qualities that Make Bitcoin Good Money

  • Scarcity: Fixed supply of 21 million coins ensures limited availability.

  • Durability: Digital records do not degrade like physical money.

  • Portability: Easily transferable across borders with minimal cost.

  • Divisibility: Can be divided into smaller units (satoshis or sats) for smaller transactions.

  • Acceptability: Growing acceptance by merchants and users worldwide.

  • Fungibility: Every sat is the same as any other.

What happens when all the Bitcoin are mined? Read the full post here to find out more.

Meet the Team

In June, our COO, Hector Alvero, co-hosted a Space on X with Tracy Elliot to talk more in-depth about the beef industry and why we need Bitcoiners' support in both food education and the importance of supporting local ranchers.

They were joined by first-generation rancher and early founder of The Beef Initiative, Jason Wrich, as well as the legendary Texas Slim.

You can listen to the Space here.

Meme of the Week