Happy New Year! Friends outside the circle often ask this question: Does BTC really have value? Many bosses may only play with BTC but don't know what value BTC actually has, so let's talk about it briefly.

Bitcoin relies on the Bitcoin network, which conducts transactions via the Bitcoin blockchain, and its value comes from this blockchain.

So the question becomes whether the Bitcoin blockchain has value. Clearly, for a global payment network that has been operating stably for over a decade, the answer is yes. This question is similar to whether the bank downstairs has value or whether the payment methods like Alipay and WeChat Pay you use have value. In terms of user reach, Bitcoin as a global network is evidently more valuable.

So why do many people think Bitcoin has no value? If we change the question to stablecoins like USDT/USDC, which are anchored to the US dollar on the blockchain, most people might not oppose it as much. This is because they believe that fiat currencies like the US dollar have value, and their only concern is whether these stablecoins will become unstable or decouple from the dollar.

However, where does the value of the US dollar come from? The US dollar is not a natural currency; it is essentially just a piece of paper, and its value relies on the financial/military/political power of the US empire, and the same goes for other countries' fiat currencies. Fiat currencies measure a nation's social production value and the government’s ability to repay debts, which means that fiat currencies fluctuate between countries.

That's right, every currency has value fluctuations; however, the average person rarely feels these exchange rate changes except in the news or occasionally when traveling abroad, which creates the illusion that fiat currencies are very stable.

As the US empire continuously prints money and forces people around the world to pay the bill, there will inevitably be one or more forces that break this one-sided seigniorage, and this is the potential value of Bitcoin.

Of course, Bitcoin may also be used by the US empire. For example, Trump wanted to use Bitcoin to counterbalance the Federal Reserve, to transform US debt, etc. This is also part of Bitcoin's value.