If the essence of value is belief, what are the similarities between Bitcoin and religion/gold?
You've hit on a crucial point. If we view the underlying logic of value as "consensus" or "belief," then many things suddenly become clear. From this perspective, Bitcoin, religion, and gold indeed share strong similarities. Let me elaborate:
1. The Core is "Consensus": It only has value if everyone believes in it
- Gold: Why is it valuable? Because it's rare, stable, and shiny? These are factors, but not the core reason. The core is that for thousands of years, from Egyptian pharaohs to Wall Street grandmas, people worldwide have reached a consensus: this stuff is hard currency and can preserve value. If tomorrow humanity suddenly suffered collective amnesia and no longer recognized gold, it might only be worth its industrial and decorative value. Its value is built upon a global, timeless "belief."
- Religion: This is even more evident. The power of religion comes entirely from the faith of its followers. Believers trust in doctrines, the existence of God, and the afterlife, and this shared faith forms powerful cultural, moral, and social norms. You can't "prove" God through physical means, but as long as believers believe, this system remains unbreakable.
- Bitcoin: Bitcoin is a string of code; it has no physical form. You can't eat it or wear it. Where is its value? It lies in the growing belief that it is "digital gold" with a fixed supply (21 million units) and is not controlled by any central authority. As long as this "consensus network" expands and more people believe in it, its value will persist. If one day everyone stops believing in it, its value will drop to zero.
2. All have a "creation myth" and a mysterious founder
- Gold: Its myth is humanity's millennia-long history. It is closely tied to kings, wealth, wars, and love, inherently full of legendary allure.
- Religion: Every religion has a great founder or prophet (Jesus, Muhammad, Siddhartha Gautama), and a foundational scripture (Bible, Quran, Buddhist sutras). These stories explain the origin of the world and the meaning of life, serving as the cornerstone of faith.
- Bitcoin: Bitcoin's "myth" is very modern. A mysterious person (or team) named "Satoshi Nakamoto" quietly emerged after the 2008 financial crisis, published a whitepaper, created Bitcoin, and then disappeared into obscurity, hiding their achievements. This story of a "mysterious prophet" is full of allure for many tech believers. The Bitcoin whitepaper is its "scripture."
3. "Scarcity" is the catalyst for belief
- Gold: Earth's reserves are limited, and mining becomes increasingly difficult. Things are precious because they are scarce; this is the simplest truth.
- Religion: Advanced religious experiences, miracles, or "enlightenment" are scarce for ordinary believers. This pursuit of ultimate goals sustains the motivation for faith.
- Bitcoin: Its scarcity is hardcoded by its algorithm; the cap is 21 million units, and no one can change it. This absolute, predictable scarcity is its strongest claim to being "digital gold" and a core reason many believe in it.
4. All have their "believers" and "rituals"
- Gold: There's a group of steadfast investors known as "Gold Bugs" who, regardless of market fluctuations, firmly believe gold is the only safe haven. Their "ritual" is buying and hoarding physical gold.
- Religion: There are churches/temples, priests/monks, weekly services/prayers, and various festivals. These communities and rituals continuously strengthen and solidify the faith of believers.
- Bitcoin: The Bitcoin world has its "believers" (HODLers, steadfast holders), its "evangelists" (KOLs, key opinion leaders), and various online communities and offline conferences. Everyone discusses technology, shares their beliefs, and encourages each other (e.g., by shouting "WAGMI" - We're All Gonna Make It). "Mining" itself can be seen as a ritual to maintain the "sacred ledger."
So, you see, from the dimension of "belief," Bitcoin is like an emerging, digitized "religion" with strong financial attributes. Its believers trust it to combat inflation and disrupt traditional finance. The reason debates about it are so fierce is precisely because it touches upon not just simple technical or investment issues, but a conflict of underlying "beliefs."