jack mallers on Nostr: The Bitcoin Network (often shortened to Bitcoin, or simply BTC) is the central ...
The Bitcoin Network (often shortened to Bitcoin, or simply BTC) is the central banking system of the Internet (or internet).
It was created on January 3rd, 2009, when Satoshi Nakamoto mined the first Bitcoin Block, after a series of financial panics (notably the Global Financial Crisis of 2008) led to the desire for a distributed monetary system without central control in order to alleviate financial crises, improve financial inclusion, and enhance human freedom.
Over the years, events such as the Global Financial Crisis in 2008, hyperinflation in emerging markets, tyrannical monetary oversight from authoritarian regimes, and the Covid Inflation in the 2020s have led to the expansion of the value and use of the Bitcoin Network.
The Bitcoin Network is the only monetary system in history to have never transformed its monetary policy, be governed by a network of distributed peers, and issue an instrument bounded to a relationship with energy as opposed to a relationship with a nation-state and/or country.
This gives the Bitcoin Network properties that are unique and also unusual when compared to the Federal Reserve, the Bank of England, the People’s Bank of China, and other Central Banks where monetary policy is centrally controlled, specific entities are given the privilege to inflate the currency, and objectives are centered around a given country’s employment, prices, and interest rates.
It was created on January 3rd, 2009, when Satoshi Nakamoto mined the first Bitcoin Block, after a series of financial panics (notably the Global Financial Crisis of 2008) led to the desire for a distributed monetary system without central control in order to alleviate financial crises, improve financial inclusion, and enhance human freedom.
Over the years, events such as the Global Financial Crisis in 2008, hyperinflation in emerging markets, tyrannical monetary oversight from authoritarian regimes, and the Covid Inflation in the 2020s have led to the expansion of the value and use of the Bitcoin Network.
The Bitcoin Network is the only monetary system in history to have never transformed its monetary policy, be governed by a network of distributed peers, and issue an instrument bounded to a relationship with energy as opposed to a relationship with a nation-state and/or country.
This gives the Bitcoin Network properties that are unique and also unusual when compared to the Federal Reserve, the Bank of England, the People’s Bank of China, and other Central Banks where monetary policy is centrally controlled, specific entities are given the privilege to inflate the currency, and objectives are centered around a given country’s employment, prices, and interest rates.