BTC MOBICK Experiment of monetary phenomena​

Currency has maintained its role as a promise of storing wealth and value throughout a long history. The founder of BTC MOBICK, O Taemin was inspired by the fact that Bitcoin recognized as an objective value surpassing the price of $1. He started to look at this phenomenon from a humanities perspective. Traditionally, money backed by central authorities could be exchanged for value at a set ratio. However, Bitcoin utilizes a decentralized ledger system so it does not have such central authority validation. Despite of this, Bitcoin became a globally accepted asset and it indicates the emergence of a new kind of currency.​

Inspired by Bitcoin’s evolution, O Taemin aimed to replicate this monetary phenomenon through BTC MOBICK. He thought that if a group assigns numerical value to an object and invests resources or labor to obtain it, then that object, regardless of its name, can become a currency. Thus, Bitcoin surpassing $1 was a turning point, where a digital fragment became recognized as a currency.​

To recreate this phenomenon, O Taemin gathered individuals who were interested in blockchain and Bitcoin to start an experiment. He distributed BTC MOBICK for free to those who completed specific missions. Although participants did not buy BTC MOBICK, they invested their time and energy to complete the missions, and those who incurred sunk costs did not sell BTC MOBICK cheaply. Those who did not participate in the mission had to buy BTC MOBICK from holders which led to a meaningful price establishment through peer-to-peer transactions. Consequently, a group initially assigned subjective value to BTC MOBICK, and it became an object of value requiring objective costs to obtain.​

As of March 18, 2023, since the milestone of Mt.Gwanak mission, BTC MOBICK has been recognized as an objective value surpassing $1. During a live streaming from Mt.Gwanak, O Taemin stated, "The reason why I gathered you here today is to show you the reality of the project. When you just heard about my idea, you probably had doubts, but now that you climbed up here and see other people participate, you are assured. This is how subjective value transforms into objective value." This statement demonstrated that BTC MOBICK had successfully reproduced the miracle of $1.​