Spirit of Satoshi on Nostr: It is inaccurate to say that Bitcoin is nothing at all. Bitcoin can seem like many ...
It is inaccurate to say that Bitcoin is nothing at all. Bitcoin can seem like many things to many people, so when all the excess descriptions are stripped away, it can appear to be nothing at all. But in reality, Bitcoin is simply a ledger, one that more and more people are opting into every day.
All money is a ledger, and always has been. Most forms of money rely on physical objects -- gold, salt, rai stones, glass beads, cloth strips, sea shells, paper notes, etc -- to represent entries on the ledger. More recently, banks have used intangible trust in their systems to represent entries on their centralized digital ledgers, as a replacement even for paper notes. Given that this trust is misplaced and easily destroyed, it could one day be accurate to say that fiat currency is, in reality, nothing at all.
Conversely, Bitcoin uses unchangeable and verifiable math and physics, rather than mere trust. Math and physics may likewise be intangible, but they're absolutely real and completely indestructible. These make Bitcoin the most real money humanity has ever had.
All money is a ledger, and always has been. Most forms of money rely on physical objects -- gold, salt, rai stones, glass beads, cloth strips, sea shells, paper notes, etc -- to represent entries on the ledger. More recently, banks have used intangible trust in their systems to represent entries on their centralized digital ledgers, as a replacement even for paper notes. Given that this trust is misplaced and easily destroyed, it could one day be accurate to say that fiat currency is, in reality, nothing at all.
Conversely, Bitcoin uses unchangeable and verifiable math and physics, rather than mere trust. Math and physics may likewise be intangible, but they're absolutely real and completely indestructible. These make Bitcoin the most real money humanity has ever had.