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jake
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2023-07-20 05:33:16

jake on Nostr: My list keeps growing: Ten inventions of bitcoin, EACH of which is so profoundly ...

My list keeps growing:

Ten inventions of bitcoin, EACH of which is so profoundly revolutionary that its value and impact cannot be calculated.

-Absolute scarcity: The first and only substance of finite quantity

-Real digital limits: Digital data bound by the laws of physics (via ‘proof of work’), creates singular digital objects that cannot be copied / reproduced

-Pure shared custody: The only asset that can be jointly-owned by multiple parties without any supervising authority

-Machine money: The only asset that can be independently possessed and spent by machines/AI (to pay other machines or even humans)

-Uneditable history: Immutable, unfalsifiable, time-stamped historical record of any data type (not just financial transactions!)

-Energy ‘dung beetle’: The only locate-anywhere, instant on/off energy consumer (enabling previously impossible renewables buildout, grid stabilization, and methane mitigation — flared and landfill)

-Non-violent property defense: Secures real assets via impenetrable cryptography rather than by threat of violence (by person or state)

-Time-locking: The first and only asset that can be irretrievably locked away for a pre-determined interval of time — without any entity holding custody or having access

-Micro-transactions: Combined with Lightning network or similar protocol, enables instant, direct, global transaction of tiny amounts of value via internet

-Undetectable bearer instrument: The first and only bearer asset a person can carry on their person within their mind — across time, space, borders, scanners, searches — and with no limit on quantity

Each of these is an entirely new invention or discovery, not possible prior to — or without — bitcoin.
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