varun on Nostr: The Power Isn’t in Possession, It’s in What You Control! Imagine you’re sending ...
The Power Isn’t in Possession, It’s in What You Control!
Imagine you’re sending an email. Once you press “send,” that email travels to its destination, and no one can stop it or take it back.
Bitcoin works in a similar way. When you send Bitcoin, the transaction moves across the world instantly, without anyone being able to block or reverse it.
It doesn’t matter where you or the other person are—borders don’t exist in the world of Bitcoin.
What’s really unique about Bitcoin is that traditional ideas of ownership don’t apply.
With physical money or assets, you can hold them in your hand or store them in a safe.
But with Bitcoin, you never actually “possess” it in a physical way.
Instead, you have something called a private key, which is like a super-secret password.
This key lets you control your Bitcoin and move it on something called the blockchain.
The blockchain is a public ledger—a kind of digital record book that’s spread across many computers around the world.
Your Bitcoin isn’t stored on your computer or phone; it’s recorded on this global ledger, which is the same on your computer, my computer, and about 10,000 other computers worldwide.
So, when you use your private key, what you’re really doing is sending a message to this global network, telling it to move your Bitcoin from one place to another.
This means that Bitcoin isn’t something you can touch or store in a vault.
Instead, you control it by having the ability to send a digital message, like an email, to move your Bitcoin.
This was a big realization for me, it made me see that Bitcoin is not just a new kind of money; it’s a completely different way of thinking about ownership and how we transfer value from one person to another.
#SatsOverCents
Imagine you’re sending an email. Once you press “send,” that email travels to its destination, and no one can stop it or take it back.
Bitcoin works in a similar way. When you send Bitcoin, the transaction moves across the world instantly, without anyone being able to block or reverse it.
It doesn’t matter where you or the other person are—borders don’t exist in the world of Bitcoin.
What’s really unique about Bitcoin is that traditional ideas of ownership don’t apply.
With physical money or assets, you can hold them in your hand or store them in a safe.
But with Bitcoin, you never actually “possess” it in a physical way.
Instead, you have something called a private key, which is like a super-secret password.
This key lets you control your Bitcoin and move it on something called the blockchain.
The blockchain is a public ledger—a kind of digital record book that’s spread across many computers around the world.
Your Bitcoin isn’t stored on your computer or phone; it’s recorded on this global ledger, which is the same on your computer, my computer, and about 10,000 other computers worldwide.
So, when you use your private key, what you’re really doing is sending a message to this global network, telling it to move your Bitcoin from one place to another.
This means that Bitcoin isn’t something you can touch or store in a vault.
Instead, you control it by having the ability to send a digital message, like an email, to move your Bitcoin.
This was a big realization for me, it made me see that Bitcoin is not just a new kind of money; it’s a completely different way of thinking about ownership and how we transfer value from one person to another.
#SatsOverCents