"Forget currencies and commodities … perhaps the most helpful analogy for Bitcoin is ‘land’, argues Richard Gendal Brown.
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Here are some observations to motivate the thought:
In the end-state the quantity of bitcoin will be fixed, just like land
Bitcoin is not perfectly fungible and neither is land
Bitcoin is not ‘consumed’ through use – just transformed and transferred. This is similar to land and dissimilar to many commodities, which are consumed (or at least degraded) through use
OK – not a perfect parallel but let’s go with it for now. What happens if we think about bitcoin through the lens of land?
http://www.coindesk.com/welcome-bitcoin-island/Note: This is not about a "Bitcoin Island" project.
The article compares owning BTC to owning land.
