I've always thought of Bitcoin as a rate-limiting token. The only thing it actually buys is space on its blockchain, which you bid on and pay for via transacti

I've always thought of Bitcoin as a rate-limiting token. The only thing it actually buys is space on its blockchain, which you bid on and pay for via transaction fees. In fact, this will probably be the dominant use-case in a few years, as more and more non-financial applications use Bitcoin OP_RETURNs to host replicated state machine inputs [1]. [1 shameless plug] https://blog.blockstack.org/blockchains-for-distributed-systems-ffd68e6341b5 https://blog.blockstack.org/blockchains-for-distributed-syst...