``One of the points Posner missed in his 2013 assessment of bitcoin as an asset is that it provides a censor and seizure-resistant store of digital value... [he] referred to bitcoin as a "collective delusion" in his piece for Slate, but as Derek Thompson pointed out in The Atlantic late last year, this has been a property of every form of money throughout history... In short, there's a reason people have decided to store value in bitcoin, and it has to do the intrinsic properties of the system such as a trustless monetary policy and resistance to seizure by governments.''

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