iamroy_p on Nostr: ZAP ⚡️⚡️⚡️ harder for 👇🏼 Bitcoin is not a coin. Bitcoin is the only ...
ZAP ⚡️⚡️⚡️ harder for 👇🏼
Bitcoin is not a coin. Bitcoin is the only real innovation which is always behind everyone of us that can’t be seen and often ignored by many. Bitcoin is the technology to replace cash in hand. We feel good when we have currency notes in hand, we feel better when we save a few. What if I say, the money saved is the money lost? Baffled? You read it right, your earned money saved is money lost every second of your life span. The statement is backed by the currency notes being incessantly printed out of thin air by the Central Bank. Bitcoin on the other hand doesn’t let anyone to print it out of thin air. In order to bring Bitcoin in circulation you have to mine. Mining here means solving mathematical riddles. To solve those math you need energy, typically electrical energy from CPU, the source of which may be the flared gas, flowing water, volcanoes,etc. The more energy you provide the more probability of you being solving the math. Once a math problem is solved, Bitcoins are rewarded to the miner, who sells the unit reward on the market for a value. So, by now we are pretty clear about the fact that Bitcoin is not printed out of thin air instead it is mined with energy or work. So we may conclude here that our national currency notes are backed by thin air while Bitcoin is backed by work and energy. Hence, Bitcoin is valuable while national currencies all over the world are rapidly loosing value.
Bitcoin is an idea. An idea in its current form powered by text. The Bitcoin whitepaper is text. The software which is run by its node is text. The ledger is text. Transactions are text. Public and private keys are text. As we know text is speech and hence Bitcoin is equivalent to speech. In every free nation free speech and free softwares are unstoppable. Thus Bitcoin is a valuable text which is censorship resistant due to its long accumulated history of computations which can never be tempered. While national currencies can be censored by Central Banks or Governments in power as we have seen in country like India where currency notes overnight termed as ‘not legal tender’ by Government out of will.
Bitcoin, this is a valuable bearer asset whose supply is hard capped and can never be changed no matter what. The best part of Bitcoin protocol is the difficulty adjustment. As we know Bitcoin is mined by energy through work so any powerful company can insert more energy/electricity to mine more Bitcoin. But the difficulty adjustment proof of work makes it impossible for any mining institution to mine Bitcoin within 10 minutes no matter how much energy or electricity is pitchforked through work. This makes Bitcoin the most valuable innovation for the generations to come.
Bitcoin is not a coin. Bitcoin is the only real innovation which is always behind everyone of us that can’t be seen and often ignored by many. Bitcoin is the technology to replace cash in hand. We feel good when we have currency notes in hand, we feel better when we save a few. What if I say, the money saved is the money lost? Baffled? You read it right, your earned money saved is money lost every second of your life span. The statement is backed by the currency notes being incessantly printed out of thin air by the Central Bank. Bitcoin on the other hand doesn’t let anyone to print it out of thin air. In order to bring Bitcoin in circulation you have to mine. Mining here means solving mathematical riddles. To solve those math you need energy, typically electrical energy from CPU, the source of which may be the flared gas, flowing water, volcanoes,etc. The more energy you provide the more probability of you being solving the math. Once a math problem is solved, Bitcoins are rewarded to the miner, who sells the unit reward on the market for a value. So, by now we are pretty clear about the fact that Bitcoin is not printed out of thin air instead it is mined with energy or work. So we may conclude here that our national currency notes are backed by thin air while Bitcoin is backed by work and energy. Hence, Bitcoin is valuable while national currencies all over the world are rapidly loosing value.
Bitcoin is an idea. An idea in its current form powered by text. The Bitcoin whitepaper is text. The software which is run by its node is text. The ledger is text. Transactions are text. Public and private keys are text. As we know text is speech and hence Bitcoin is equivalent to speech. In every free nation free speech and free softwares are unstoppable. Thus Bitcoin is a valuable text which is censorship resistant due to its long accumulated history of computations which can never be tempered. While national currencies can be censored by Central Banks or Governments in power as we have seen in country like India where currency notes overnight termed as ‘not legal tender’ by Government out of will.
Bitcoin, this is a valuable bearer asset whose supply is hard capped and can never be changed no matter what. The best part of Bitcoin protocol is the difficulty adjustment. As we know Bitcoin is mined by energy through work so any powerful company can insert more energy/electricity to mine more Bitcoin. But the difficulty adjustment proof of work makes it impossible for any mining institution to mine Bitcoin within 10 minutes no matter how much energy or electricity is pitchforked through work. This makes Bitcoin the most valuable innovation for the generations to come.