What do Charlie Bucket and his Golden Ticket and Bitcoin have in common??

In the movie and book, Charlie finds one of the 5 golden tickets and is ecstatic. It was his life long desire to visit the chocolate factory that dominates the town he lives in. The mystique created by Willy Wonka captures his imagination. But, his family is struggling and he thinks about selling the ticket for $500. That’s when his grandfather reminds him - “Why would you sell this ticket for something as cheap as money? They print more and more money, but this ticket, there will only be 5, the only 5 there ever will be!”.

That brings us to Bitcoin, there is a fixed supply and that’s all there ever will be. So, unlike fiat or regular money, there is a limited supply but increasing demand. Some call it a permanent store of “value” and others refer to it as a “hedge against inflation”, but the critical fact is that limited supply.

The interesting dynamic which adds a twist is that Bitcoin, unlike Charlie’s ticket or other stores of value, such as Gold, can be bought and sold in very small fractions, or Satoshis (Sats for short). So, people do not have to buy 1 BTC in full, they can buy one millionth of it and trade it.

BTC is a fully virtual currency, which is different from a bar of Gold or a dollar bill. It can be used as a medium of exchange, but no one can see it or feel it. It can be converted to dollars or other fiat, transferred to friends or businesses and in general be used to buy things that have actual value. The Golden ticket can only be used for what it was intended, i.e. to get a tour of Wonka’s factory. But Bitcoin is more liquid and akin to currency that can be redeemed for physical or virtual goods or services.

Just thought of this random connection between Crypto and Charlie.

What do Charlie Bucket and his Golden Ticket and Bitcoin have in common??

In the movie and book, Charlie finds one of the 5 golden tickets and is ecstatic. It was his life long desire to visit the chocolate factory that dominates the town he lives in. The mystique created by Willy Wonka captures his imagination. But, his family is struggling and he thinks about selling the ticket for $500. That’s when his grandfather reminds him - “Why would you sell this ticket for something as cheap as money? They print more and more money, but this ticket, there will only be 5, the only 5 there ever will be!”.

That brings us to Bitcoin, there is a fixed supply and that’s all there ever will be. So, unlike fiat or regular money, there is a limited supply but increasing demand. Some call it a permanent store of “value” and others refer to it as a “hedge against inflation”, but the critical fact is that limited supply.

The interesting dynamic which adds a twist is that Bitcoin, unlike Charlie’s ticket or other stores of value, such as Gold, can be bought and sold in very small fractions, or Satoshis (Sats for short). So, people do not have to buy 1 BTC in full, they can buy one millionth of it and trade it.

BTC is a fully virtual currency, which is different from a bar of Gold or a dollar bill. It can be used as a medium of exchange, but no one can see it or feel it. It can be converted to dollars or other fiat, transferred to friends or businesses and in general be used to buy things that have actual value. The Golden ticket can only be used for what it was intended, i.e. to get a tour of Wonka’s factory. But Bitcoin is more liquid and akin to currency that can be redeemed for physical or virtual goods or services.

Just thought of this random connection between Crypto and Charlie.