Bitcoin Geek Otaku perspective on Bitcoin analysis [Tetsu Sasaki] (FX攻略.com February 2018 issue)

Sasaki Toru Profile

He is the operator of the online school “Cocosuta” where he learns trading methods from foreign exchange to commodities and cryptocurrencies. He is an active trader, entrepreneur, and marketing strategist, as well as the head teacher. He has over 3,000 students, and in 2014 he became the first Japanese instructor to rank in the Udemy top 15. He teaches as part of the evangelist instructor group on the program “Blockchain and Our Future” where he handles trading. He holds the CMT Level 1 certification from the U.S. Technical Analysts Association. Since 2016, his English-language YouTube channel “Bitcoin Geekend” has grown to over 2,500 followers. He is the representative director of Fam Co., Ltd.

Cocosuta

Needs vs. Wants

This time, I would like to write about Bitcoin’s value from the perspective of “necessity.”

When a new service or product enters the world, whether it will be accepted depends on a clear answer to the following question: “Who needs this service?” Here, what should be noted is that it is something that is needed, not something that someone merely desires.

For example, on a cold day, if you want to warm up a little, you might hesitate to pick up and buy a warm drink from the convenience store shelves. Why would you hesitate? Because you can endure the cold without buying it. In other words, that drink is something you “want.”

On the other hand, imagine you are stranded in a desert, having not eaten or drunk water for two days. Your body would lose water due to hot winds, and within a few hours you face death. If a convenience store suddenly appeared before you, would you buy water, regardless of the price? Yes, because you need it to survive, and there are no other options.

Similarly, there are actually many people in the world who “need” Bitcoin to live, and who have no other choices.