Bitcoin is Time

You can think of Bitcoin as a kind of clock, it keeps track of time across the tens of thousands of computers that make up its network. A decentralized clock if you will, keeping track of which transactions came first. Ticking away for eternity.

Not only does bitcoin tell time, but Bitcoin is an invention of a new kind of time.


Consider each new block added to the blockchain as a tick or a tock. The nodes within the bitcoin network come to a consensus of what the blocktime is and what transactions are included in each block.

Bitcoin facilitates this decentralized variable time in a trustless manner, i.e. there’s no one ‘keeping time’ the computers do this algorithmically without interference.

Obviously the problem of timekeeping is a big deal when dealing with a ledger, the order of who sent money to who is extremely important. If someone has control over the order of transactions they can literally control who has what money.

It must be stressed that the impos­si­bility of associ­ating events with points in time in distrib­uted systems was the unsolved problem that precluded a decen­tral­ized ledger from ever being possible until Satoshi Nakamoto invented a solution.

Gregory Trubet­skoy

The fancy term for this is Bitcoin is a distributed timestamp server, mitigating disputes in the order of transactions, completely autonomously, through a complex interplay of physics and game theory.

Bitcoin is automatic and can’t be shut off. No one controls the bitcoin time chain, it’s a computer system that exists beyond the control of humanity.

It exists as permanently and beyond human control as time itself.


Bitcoin is a Network

Bitcoin is a global interconnected computer network made up of tens of thousands of nodes.

A computer network comprises two or more computers that are connected—either by cables (wired) or WiFi (wireless)—with the purpose of transmitting, exchanging, or sharing data and resources. 


A node is a connection point inside a network that can receive, send, create, or store data. A node is essentially [a computer] that can recognize, process, and transmit information to any other network node.


The nodes [computers] that make up the bitcoin network all run the same free open source software. This software is a language that allows these computers to interact with each other, and it governs the rules of the system.

Specifically, bitcoin is a peer-to-peer network, where every computer can communicate with any other computer directly. There’s no central server processing all of the data, and every computer is the same in the eyes of the network. There are no hierarchies, there are no master nodes that have any more power than any other nodes. Peer-to-peer means that bitcoin has a flat topology, every node is equal.

The nodes constantly pass around and verify transactions, and importantly, all of these computers have the same copy of the ledger. When someone makes a bitcoin transaction all computers in the network update their ledger together. Therefore bitcoin is on all of the computers in the network at the same time.

Because all nodes run the same software, all members of the network must adhere to the consensus rules and monetary policy in order to send and receive transactions. This makes it impossible for one single person or group to cheat the system or adjust the rules like they can with fiat money.

You can think of the bitcoin network kind of like a big mushroom, where there’s not really a brain. It’s all just one big blob. Or you could even think of Bitcoin as the brain itself, with electricity pulsing throughout the network to build one self-sufficient, autonomous, system.

Ai interpretation of a golden network

And to confuse you even more, bitcoin is also the name of the software that the nodes are running on the network.

So to recap: bitcoin the currency, is sent over Bitcoin the network, by computers running Bitcoin the software.

What is Bitcoin?

Bitcoin is the next evolution in money. It’s a 21st century monetary technology that will outlast our fiat currency system. Bitcoin is money for a type one civilization.

Bitcoin is not just a currency, it is a complete reworking of our global monetary system.

It is the first digital system of money that is completely decentralized.

Decentralized means its spread out, it exists everywhere, and no one is in control. This is the biggest differentiator between bitcoin and everything else that has ever existed.

Bitcoin is an electronic peer-to-peer cash system based on a distributed digital ledger called a blockchain or timechain. The ledger includes transactions approved by the peer-to-peer network instead of a central authority.

Bitcoin Magazine

Bitcoin is a decentralized P2P transaction technology. It’s Peer-to-peer because there’s no one in the middle of the person you’re transacting with. Bitcoin is self running computer code which facilitates transactions automatically. It’s an independent third party software which holds no allegiances, and runs completely on its own. 

So, what is bitcoin?

Bitcoin isn’t just money. It isn’t just a digital asset, and it isn’t just software.

Bitcoin is a network, an internet protocol, and a technology stack.

It’s layers upon layers of different apps, companies, software, hardware, networks, miners, implementations, alt-chains, smart contracts, decentralized protocols, services, tools and exchanges, which together form this unstoppable global public monetary infrastructure.

It’s a publicly accessible global bank, global monetary system and global financial system.

The reason bitcoin is so revolutionary is because it’s so unique. There’s never been a money that’s digital, programmable, finite and uncontrollable by humans. One which runs its own publicly available global monetary system outside of the purview of corrupt governments and corporations.

One which was engineered from the ground up to have all around superior monetary properties, and exist within an entire network of trust minimized protocols facilitating payments and contracts all open source, transparent, and available to all. No exceptions.

Bitcoin is the reinvention of money itself.

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.

The Great Excel Spreadsheet in the Sky

To understand how bitcoin works under the hood, you can think of it like an ultimate google doc, a shared spreadsheet in the cloud which is just a list of transactions. That’s literally all bitcoin is, it’s just a ledger, a list of who sent money to who.

At the most basic and fundamental level, bitcoin is just a ledger.

But instead of existing on the computers of banks, it exists on hundreds of thousands of computers all around the globe.

They all have the same ledger and everyone is in complete agreement with who sent money to who. 

If you’re having trouble putting an image of bitcoin in your head just think of a long digital excel spreadsheet, a calculator that keeps track of everyone’s money.

So when people say, bitcoin isn’t real, it’s the same as saying your money in the bank isn’t real.

Except of course the bitcoin ledger is the most powerful and secure supercomputer on earth, can’t be hacked or shut down, and you have full autonomy over your savings.

When we’re talking about digital dollars or Zuckerberg bucks, the money ledger is stored on a central server. Basically the bank has a private computer that they keep all the records of everyone’s money.

The big difference is that Bitcoin’s ledger is a decentralized server. It’s hosted on tens of thousands of computers across the globe. Every bitcoin computer has a full copy of the bitcoin blockchain, for a fully transparent system. Bitcoin’s ledger is everywhere, its in the cloud.

It’s the great excel spreadsheet in the sky.

Bitcoin is like an unstoppable PayPal, beaming digital super-gold around the world at the speed of light. It allows you to send and receive value, to and from anyone in the world, with nothing more than a smartphone and an internet connection.

The software operates on it’s own. All of bitcoins functions are facilitated by computer code. There’s no customer service you can call, no corporation that can change the rules, and no government that can stop your payments.

And anyone can access it, no exceptions.

Bitcoin is Digital Gold

So, what exactly is Bitcoin?

Bitcoin is the first and most popular cryptocurrency!

It is the invention of digital scarcity i.e. digital property.

It’s a new form of money and an independent global monetary network.

It was invented by a person or persons under the pseudonym Satoshi Nakamoto.

It’s an enormous breakthrough in computer science and cryptographic systems.

In simple terms bitcoin is digital money.

But then again – so are dollars, euros, and yen.

We have PayPal, Venmo, Cash App, Kohls cash, Credit Card reward points…heck you can even send money over Facebook messenger!

So while digital money is technically correct! It doesn’t really tell us anything…

What about digital gold? I’m sure you’ve heard that term tossed around, and honestly I do like it a lot better.

If I was explaining bitcoin to a 5 year old I would say that bitcoin is just gold that’s on the internet. In the same way that email is just internet mail, bitcoins are gold coins on the internet.

I like this comparison because calling bitcoin digital gold tells you it’s one of a kind, rare, and desirable. However bitcoin is more than just digital gold, its an evolution of gold. Where gold is great at moving value across time, its not great at moving value across space or scales.

Bitcoin is better than gold because it was specifically designed to fix all of its shortfalls. Including verifiability, portability, and divisibility.

The Gold Story

Gold was independently chosen by human civilizations for over five thousand years, civilizations that didn’t even have contact with one another. This is because gold just so happens to fulfill certain monetary properties which made it better money than any other asset on earth.

Why then did this ancient money become obsolete?

As civilization became global, and information moved at the speed of light, the only way for gold to keep up was for abstractions be build on top of gold. I.e. gold certificates. Paper money and bank spreadsheets that kept track of gold became money, instead of the gold itself.

The temptation to corrupt this system was too great for humanity to handle, and eventually more paper certificates were distributed than the underlying gold they were backed by. Eventually this system broke down and only unbacked paper/digital money was left.

Why Bitcoin is Digital Gold

Bitcoin is digital gold because of its scarcity. It’s digital gold because its monetary policy is set in stone, and it’s too decentralized to be able to change. It is extremely secure and durable because of its extreme simplicity. Bitcoin is programmed to do one thing and one thing only, be a sound money settlement network.

It was the first digital asset, created an entire asset class, and was the invention of digital property itself. It’s the number one digital asset in terms of market cap and is worth almost as much as all other cryptocurrencies combined.

Bitcoin has been used to back other cryptocurrencies like stablecoins, is classified as a commodity by multiple sovereign regulatory agencies, and is held on the balance sheets of governments and corporations like gold or treasuries.

It was this track record, network effect, and long history of unchanging sound money properties which has made bitcoin the undisputed champion of sound money, and no other digital asset tries to compete with bitcoin on this narrative. It’s well understood in the digital asset ecosystem that bitcoin is the sound money project.

Once you understand that bitcoin is one of a kind and has no competition in the digital gold space, bitcoin’s value proposition cuts through the noise. Bitcoin is gold that can be programmed, sent anywhere on earth at the speed of light, and easily integrated into any digital application or program.

Gold failed as money because it isn’t portable, it is hard to verify, and it can’t be divided up to small value amounts. Limitations bitcoin was specifically designed to fix.

By fixing the shortcomings of gold, humanity has a new sound money which will compete against unbacked digital certificates. If gold was independently chosen by world civilizations for thousands of years due to its superior monetary properties, what does that mean for digital gold?

The crazy thing about bitcoin is though, this definition of “digital gold” is underwhelming. It is extremely simplified and doesn’t really explain why bitcoin is so revolutionary.

To steal another line from Andreas Antonopoulos:

Saying bitcoin is digital gold is like saying the internet is a fancy telephone

What is bitcoin???

It’s a question everyone asks but no one seems to have a good answer for.

John Oliver host of Last Week Tonight, said it best:

Usually, the nerds will give you the technical definition:

Bitcoin is an open monetary transmission protocol…blah blah blah

They’ll tell you what it does and how it works…but I heard these jargon filled definitions repeated for years and they never helped me, in fact they all made bitcoin seem boring and underwhelming.

Because of all of these boring definitions, Bitcoin is very misunderstood, I can tell you it’s not what you think it is.

It’s a totally new invention, revolutionary invention, and yet it’s shrouded in complex terminologies and elitist jargon.

Wow what a difficult task you have. At a very basic level you have to try to understand what is bitcoin. I can answer that question in for words. Bitcoin is digital money. But that doesn’t really capture it. It’s more like the Internet of money. But really it’s a consensus decentralized network based on Blockchain technology and proof of work algorithm that allows a digital token to act as a reward system for a game theoretical competition between decentralize minors to validate…and oh my it immediately goes off a cliff….

Andreas Antonopoulos

The only things we have to explain what bitcoin is, are analogies of already existing technologies. But like the old saying goes, some analogies are helpful, but all are wrong.

Some of my personal favorite bitcoin analogies are:

  • Bitcoin is digital gold
  • Bitcoin is gold that you can send from one phone to another…or from one BRAIN to another.
  • Bitcoin is digital Super-Gold! Flying around the world at the speed of light, in an unstoppable PayPal
  • Bitcoin is not just a bank account, but a full Swiss bank in your pocket
  • Bitcoin is not just money on the internet, it’s the “Internet of Money”, a programmable monetary base layer internet protocol like TCP/IP or HTTP
  • Bitcoin is the world’s largest, most secure, and most powerful supercomputer
  • Bitcoin is like putting a calculator in charge of a global monetary and financial system
  • Bitcoin is insurance against the debt bubble
  • Bitcoin is like beanie babies, except for ending human slavery
  • Bitcoin is a global anti-authoritarian political movement and a peaceful technological revolution

Bitcoins are “magic internet tokens” that you can store inside an app on a smart phone!!

Silly little made up internet points, that for some reason people pay tens of thousands of dollars for…

Bitcoin is the Manhattan project for human freedom. An escape hatch from our monopolistic fiat-capitalist global economic system.

My personal favorite analogy for explaining bitcoin goes a little like this:

Imagine there’s this huge elephant, and a group of blind monks all walk up to it and start feeling it up to try and make sense of it.

Right so one monk is petting it’s head, another is on its back feeling it’s ridged spine, there’s a monk clinging to one of its tusks, one pulling on it’s ears, another is tossing around it’s testicles, and yet another is rubbing on its toes.

The elephant of course is bitcoin in this analogy, there’s so many different pieces, it’s impossible for any one of us (the blind monks) to get a sense of it fully.

What makes it even more difficult to explain to new people is that there is no good elevator pitch for bitcoin, it truly depends on where you’re coming from, your prerequisite knowledge, and personal values.

Ask three strangers what Bitcoin is, and you will probably get three very different answers. Any answer is necessarily shaped by past experience, political and economic beliefs, and an individual understanding of the world. Your personal set of ideas, your world view, defines where you are on the landscape of ideas.


Explaining to the monk touching the elephant’s tusks what the testicles feel like is totally a lost cause.

My job of course is to lead you little monks all around the elephant, feeling all the parts to get a sense of something totally new. This of course requires a bit of commitment from the student, however I can promise you that you will find it very rewarding if you stick around.


21 Lessons – Gigi

The Internet of Money – Andreas Antonopoulos


Forget everything you know about bitcoin. Forget everything you know about blockchain, and crypto.

Once you begin this journey there’s no going back. Those who venture down this path rarely return.

Once you understand bitcoin in all of its complexity, your life and your view of the world will change forever.

Be warned, there are more questions than answers that lie ahead of you.

If you’ve ever watched the show Lost, you know what it’s like to be sucked down a path of endless questions and an unquenchable thirst to know where it all leads.

I want to make an all encompassing introduction to people, about what bitcoin actually is.

I know how revolutionary bitcoin is, but it’s a really tough subject to explain.

It took me a hundred hours to understand it, hundreds more just addressing my questions, and another few hundred after that trying to find the catch. I want to break it all down so you can understand in much less time than it took me haha. If I’m good at one thing its organizing knowledge.

There’s a lot of misinformation and scammy shit out there, and there needs to be more honest and dependable voices in the space. I have no financial reason to do this, I’m just passionate.

I want you to know, I too was skeptical about bitcoin for many years, even after studying it for countless hours. It’s very important that you learn about bitcoin in an adversarial way, don’t believe anyone, and cross check many sources. This is a huge commitment but I can tell you it’s worth it.

Even after a couple of years exploring what is bitcoin you’ll find that you are still learning you’re still trying to understand what it is.

Andreas Antonopoulos

You should not be taking things at face value. Do not trust what you read without rationalizing it for yourself and always look for counter arguments. Read all the sources and then weigh each as unbiased as you can.

By being skeptical, it means you are a rational thinker and don’t just blindly accept things as they are. Which is an integral part of bitcoin, and a foundational value of all bitcoiners.

We have a saying in bitcoin, don’t trust, verify. I don’t want you to trust what I’m telling you, I want you to be inspired to learn more and discover your own truth.

I knew about bitcoin for a long time, but in hindsight I didn’t know anything.

I started off like everyone else, thinking it would either make me rich, or that it was cute nerd money that would just fade away someday…

Knowing about bitcoin, and realizing what bitcoin is, are two completely different things.

In bitcoin circles we call this phenomena falling down the rabbit hole. It’s the process of slowly realizing what bitcoin is and then spending months and months and hundreds of hours obsessively learning as much as you can.

My job is to make your fall down the rabbit hole as easy as possible, if you’re curious.

You’re journey begins…with a simple question..

What is bitcoin?

Designed Money

All bitcoin is, is fake money. Why does it have any value at all?

Anyone can literally just make up their own money!

I could print a ton of monopoly dollars and start selling them to people saying something like, “trust me it’ll be really valuable someday!!!!”

But because the only thing you can do with bitcoin is trade it to someone else, how can you tell if it really does anything? It’s even not legal tender, you can’t really buy things with it.

And the greater idiot comes along someday and you can sell it to them, getting it off your hands and making a killing by being an early adopter $$$

Then these idiots are caught with the bag of fake coins, that don’t actually do anything, ha!

Jack has been sold a few “magic beans” for his cow.

You retail investors come along, paying all of this money for some collectable beanie baby, because someone else said it was “the new money of the world” or some bullshit, and you believed him!

This is what everyone thinks the first time they learn about bitcoin

Or at least those late to the bitcoin party.

Not me of course, I first heard about bitcoin being used as money on the silk road to buy mushrooms. So my first impression was more like, “Oh yeah, of course they invented a money for the internet, that makes sense” and I wasn’t very impressed.

My second exposure was from my anarchist roommate at summer camp who talked about it nonstop as a political tool. I was interested by what he had to say, but didn’t really think it would work. At the time, bitcoin had fallen from almost $1,000 all the way to $250 in Mt. Gox’s collapse, and I assumed it was a failed experiment.

I also saw liberty is losing all over the world and didn’t have much faith in an anarchist money to gain popularity for the masses. Lastly, I just wasn’t interested in monetary policy compared to other political issues.

But this is why this “magic beans” argument confused me for a long time, I never thought of bitcoin as an investment or something that would ever go up in price. I thought of it as a volatile money that probably was too niche to take off.

So for those who can’t see the utility right away, I understand why it’s important to dispel this ‘magic beans’ myth. You probably don’t have the same historical context as I do.

Not only do I understand pushback on bitcoin, but deep down I do respect it. I understand that it’s vital you don’t blindly trust me or anyone in the bitcoin space, but take the time to verify and cross check many sources. It’s recommended that you remain cautious especially with crypto. There’s so many scams out there, and now there are so many coins and marketing ploys, it’s really difficult to understand what’s going on.

Asking if bitcoin actually does anything is totally a legitimate question.

The answer however, might make you go mad.

Bitcoin is Designed Money

Unlike other crypto projects which were spun up over a weekend to make a quick profit, bitcoin was in the works for a very long time. There had been many failed attempts at digital cash, and it was thought to be impossible to create a money in cyberspace not physically tied to the real world.

The creators of bitcoin called themselves cypherpunks. The cypherpunks were a group of mega nerds, all around the world, who communicated via mailing lists and early internet messaging systems in the 90’s. They were techno-libertarians, fans of literature like 1984 and Atlas Shrugged. They were interested in all kinds of privacy preserving technologies, leveraging cryptography to secure freedom in the digital age.

They saw the writing on the wall, and were politically motivated to build freedom technology to combat the inevitable leeching of authoritarianism into cyberspace. The cypherpunks knew “If it’s to be it’s up to me” and were dedicated to action to achieve their goals. The phrase “Cypherpunks write code” in Eric Hughes’s cypherpunk manifesto is their call to action, to apply cryptography and invent technology that preemptively preserves human rights, without asking for permission.

They were working on digital cash for a long time, from David Chaum’s eCash proposal in 1982, through the 90’s and 2000’s until bitcoin was finally released in 2008. The understanding at the time was that preventing copying and duplication of money in cyberspace was impossible, and private eCash could only be possible with a trusted bank or intermediary storing real world assets.

After multiple failures like Liberty Reserve it became apparent that centralizing any aspect of ecash would lead to it’s appropriation by state and authoritarian entities.

Every money throughout history has been subject to human control, manipulation, corruption, and inflation. Even gold and silver have been exploited throughout history, with dictators’ stamped faces into coins.

The designers of bitcoin were experts in distributed systems engineering and economic history,

They solved theses problem, combining 150 years of Austrian economic knowledge and Ancient Greek monetary theory to develop…

The perfect money.

They Invented a Better Money (who does that??)

Bitcoin is the invention of a new digital money, it solves a decades old computer science dilemma, and is the invention of digital scarcity

Bitcoin was created to fit all the fundamental properties of money better than gold or fiat. If you look at all the attributes of a good money, bitcoin is superior in every way

The cyhpherpunks were experts on monetary history and knew all too well that the problems of unbacked fiat currencies create. Bitcoin was designed specifically to fix all of the shortcomings of gold which lead to it being obsolete as global money. Bitcoin is the hardest, soundest, and most perfect money ever developed by mankind

  • Bitcoin isn’t just money, it’s isn’t just a digital asset, it’s also a network
  • It’s an internet protocol, and a technology stack
  • it’s a global monetary system and a global financial system

So What is Bitcoin’s Intrinsic Value?

It doesn’t actually do anything, it’s just internet points. We have credit cards, paypal, venmo, cashapp, kohls cash, heck you can even send money over facebook messenger!

Once you learn what bitcoin is, who made it and why, you’ll see how this argument completely falls apart.

The reason Americans and those in the privileged western economic zones don’t understand bitcoin is because we don’t need to understand bitcoin.

Our financial system is, mostly, inclusive.

Our institutions are the best in the world, and while they definitely aren’t perfect, they’re good enough to where we don’t really pay attention.

Our financial privilege blinds us to the very real and very terrible struggles for BILLIONS of people around the world.

The difference between bitcoin and all other digital monies is that bitcoin is decentralized, meaning no one is in control.

In fact, bitcoin runs on it’s own without any human in charge. Bitcoin is like putting a calculator in charge of a global monetary and financial system, one that is rules based and unchanging.

Bitcoin’s utility is that it allows people to store value outside of any currency system in something with provably scarce units, and to transport that value around the world.

Its founder, Satoshi Nakamoto, solved the double-spending problem and crafted a well-designed protocol that has scarce units that are tradeable in a stateless and decentralized way.

Lyn Alden

No one can change the rules or devalue the currency. No one can enrich themselves by slowly stealing value from everyone else.

It’s a money that can’t be corrupted by humans because no human is in control of it

Solving the concentrated-benefits and dispersed-costs problem affecting all other fiat monies, aka inflation.

Bitcoin is the most neutral and fair money ever invented, and the consequences are profound.

What is Bitcoin Backed by?

Bitcoin is backed by the only thing that backs any form of money: the credibility of its monetary properties.

Bitcoin was designed from the ground up to have the strongest monetary properties of any asset in history.

It solves the shortcomings of gold and fulfils the fundamental properties of money better than fiat.

Fidelity’s digital asset arm produced a great report on Bitcoin’s monetary properties and why they are superior to all historical forms of money. This chart explains why bitcoin has value, you have to judge monetary goods on these monetary properties

Some of these monetary attributes were described thousands of years ago by Aristotle and they still hold true to this day.

The idea that money has to be backed by some other arbitrary thing that it does, is ridiculous because being a good money is already one of the hardest things in economic society to accomplish. It’s an insanely difficult task, that’s why there are so few things that actually manage to pull it off.

  • Bitcoin is the first accounting innovation in over 700 years
  • The last time there was any big revelation in bookkeeping was double booking accounting, popularized by the Medici and Florentine banking families, setting off an explosion of wealth and the renaissance
  • Bitcoin is the invention of the decentralized ledger, of full accounting transparency, and of digital scarcity, which in our internet age will also result in a similar explosion of prosperity

One of the very few topics that all economists actually agree on is that price controls are stupid. It leads to shortages and misallocated resources EVERY TIME ITS TRIED there are thousands of examples. Thousands.

AND YET for some reason, everyone thinks the most important financial asset in the global financial system, money, should be managed by the state and corporations.

Do you really want the bankers manipulating the price of money, AKA the price of time for every human on earth…

AND YET no one stops to think that MAYBE price controls on money, maybe just maybe, are AS ineffective as price controls on everything else that they’re tried on.

All of our money is controlled by the state. And you better believe they manipulate and weaponize it, corrupt it and give hand outs to the elite and well connected. False price signals in interest rates cause the boom and bust cycles of our economy and the buildup of unsustainable debt.

Bitcoin is about more than just being the best money ever made, it’s a protest against the socialism that exists at the heart of our global financial system.

*****I have to spend some time her talking about WHAT IS MONEY and why it’s important, then go into how Bitcoin is better money

It is also worth noting that just like other monetary goods, bitcoin is not a company, it doesn’t pay a dividend or have cash flows. Therefore, its value must be derived from its ability to better fulfill the characteristics of a monetary good compared to traditional alternatives.

With a digital asset like bitcoin, it doesn’t require the use of a payment processor, a bank, or a government to transfer value. For large purchases, instead of using a bank as a middleman and paying its fees, you can securely send funds to anyone all over the world, like you would an email.

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It enables cryptographically secure, censorship resistant payments across borders. It is the first and only form of absolute digital scarcity and is not controlled by any one person or group. As a result it cannot be interfered with by any world government.

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  • Bitcoin was created by an unknown person or group of people under the name Satoshi Nakamoto
  • Bitcoin is the introduction of a totally neutral, independent money to the world economic stage, right now it’s small but in the coming years it will be a major world player. What does that look like when you have all inflationary global fiat monies and this one super sound deflationary money that financially incentivizes savings? The black hole of a perfectly scarce monetary good will absorb value as it gets built out.
  • You don’t understand…they’ve created the hardest money of all time….hard money is always superior to soft money, over time there’s no escaping the incentives.  Bitcoin isn’t an if but a when…