corndalorian on Nostr: Ok cool. The most simple explanation is that bitcoin is money. “Hard money.” ...
Ok cool. The most simple explanation is that bitcoin is money. “Hard money.” “Freedom money.” “Magic internet money.” “Fuck you money.” It has several nicknames, but at the end of the day it’s money. There are a few key things about it that make it good money, including:
1. You can send and receive it without needing anyone’s approval or permission. There are no 3rd party banks or services involved in your transactions unless you choose to use them (like Cashapp, Wallet of Satoshi, etc). It’s like handing someone physical cash, but you can do it through the internet from anywhere in the world, to anywhere in the world, without needing permission.
2. You don’t have to attach your identity to it in order to use it, unlike banks which require your identity and can control your access to your money or seize it based on their own rules or a government order, etc.
3. No one can change the rules of the bitcoin network without the rest of the network agreeing to the changes. This means things like the total supply of bitcoin and the way transactions are processed are set and predictable, and no company or government or billionaire can force a change that the rest of the network doesn’t want, or pay for special favors that others can’t afford. It’s the same rules for everyone.
1. You can send and receive it without needing anyone’s approval or permission. There are no 3rd party banks or services involved in your transactions unless you choose to use them (like Cashapp, Wallet of Satoshi, etc). It’s like handing someone physical cash, but you can do it through the internet from anywhere in the world, to anywhere in the world, without needing permission.
2. You don’t have to attach your identity to it in order to use it, unlike banks which require your identity and can control your access to your money or seize it based on their own rules or a government order, etc.
3. No one can change the rules of the bitcoin network without the rest of the network agreeing to the changes. This means things like the total supply of bitcoin and the way transactions are processed are set and predictable, and no company or government or billionaire can force a change that the rest of the network doesn’t want, or pay for special favors that others can’t afford. It’s the same rules for everyone.