a source familiar with the matter on Nostr: Bitcoins are cryptographically brilliant but economically illiterate. Fiat "money" ...
Bitcoins are cryptographically brilliant but economically illiterate.
Fiat "money" treats an "IOU nothing" as having real value, and Bitcoin does exactly the same. Bitcoin strictly limits the number of "nothings" that can be issued, but this does not give them value.
Published at
2024-02-13 00:45:43Event JSON
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"content": "Bitcoins are cryptographically brilliant but economically illiterate. \n\nFiat \"money\" treats an \"IOU nothing\" as having real value, and Bitcoin does exactly the same. Bitcoin strictly limits the number of \"nothings\" that can be issued, but this does not give them value.",
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