Bitcoin is Information

Because bitcoin is just an internet ledger, bitcoin is pure information.

Bitcoin is a broadcast network where the message is the money. It’s is a software program for sending and receiving text messages (transactions).

It’s technically just 1’s and 0’s computer code, and cool math! There aren’t even any coins, it’s just a list of transactions and units.

You can send a bitcoin transaction via QR code…or in a picture. You can store billions of dollars worth of bitcoin in your brain by memorizing 24 words.

There are 233 bitcoins ($7,000,000) embedded in this image

If you think about it from an adversarial perspective, this makes bitcoin extremely difficult to censor. You can send someone money with a meme!

You can text a bitcoin transaction with emojis, you can send it via satellite, you can send it over radio, you can save the file on an SD card, or mail it hidden in a love letter.

And once a bitcoin transaction is sent it can’t be undone.

Being digital also makes bitcoin extremely portable, frictionless, and easily integrated into our digital world.

Bitcoin is also programmable and can be designed around without permission. You can program money in countless of innovative ways with smart contracts and new complex financial infrastructure can be built on top of it.

Multi party custody solutions, payment channels, atomic swaps, batch transactions, time locks, vaults, prisms, micropayments, in-game currency integration, money streaming, insurance and options smart contracts, layer three web browsers, social networks, encrypted messaging…. and so much more that hasn’t even been invented yet.

Also with bitcoin, AI, robots, self-driving cars, drones, refrigerators, smart homes etc. can all hold and use bitcoin between themselves, a whole robot economy independent of ours.

This isn’t possible within our current credit based monetary system, since that requires passing of personal information and creditworthiness, a regulatory and security nightmare. Bitcoin on the other hand can be settled instantly with cash finality, zapped around at the speed of light anywhere on earth.

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