Why bitcoin’s real value lies in its technology, not just currency

While the world of cryptocurrency often receives attention for its market volatility and investment potential, its true power, advocates say, lies in the transformative technology that powers it.

In a recent discussion, Roundtable host Rob Nelson sat down with Lamina1 CEO and Co-Founder Rebecca Barkin and Crypto Lifer Host Sam Price to explore how bitcoin and blockchain technology are more than just financial instruments, they are the building blocks of a new era of innovation. Their conversation highlighted how these technologies are poised to transform industries far beyond finance.

Nelson opened the discussion by challenging the common perception that cryptocurrency is only about currencies and investments. He emphasized that bitcoin, in particular, is unique because it is simultaneously an asset, a currency, and a technology. This trifecta sets it apart from other investments, such as traditional stocks, which are purely financial assets without a technological backbone.

Barkin expanded on Nelson’s point, emphasizing the convergence of emerging technologies that are coming together to create powerful new opportunities. He noted that blockchain, AI, and cloud computing are maturing simultaneously, resulting in a technological stack that is opening up new revenue streams and business models. Barkin also touched on the cyclical nature of technology, comparing the current blockchain craze to previous cycles in augmented reality, virtual reality, and peer-to-peer technologies.

Sam Price then took the floor, reflecting on his journey from viewing bitcoin as merely an investment to realizing its technological significance. He explained how understanding the hash rate and difficulty of mining led him to appreciate bitcoin as more than just a vehicle to financial freedom. For Price, bitcoin represents stored energy, a concept that underpins its long-term value and sets it apart from traditional fiat currencies like the dollar, which are no longer backed by tangible assets.

Nelson echoed Price’s sentiment, suggesting that Bitcoin’s value could eclipse the dollar in the future, driven by its technological foundation and energy-intensive creation process. He noted that while many people don’t fully grasp it today, the implications of Bitcoin and blockchain technology are enormous, on par with historic innovations like the printing press.