Bitcoin is a paradigmatic transformation of humanity's oldest technology: money. This guide is for those willing to view it through that lens. Why is bitcoin important? Why will it win in the end? These are simple questions which might be clear in our heads but sometimes not as easy to explain to someone else. In this article, the author lays it out, trying to simplify and focus on the most important aspects of the technology and why humans feel such attraction towards bitcoin due to its perfection: - It's the perfect store of value; it can't be diluted.
- It's the perfect medium of exchange; it can't be stopped.
- It's the perfect unit of account; it's infinitely divisible.
As the fundamentals are explained, it boils down to a simple thing: "Money measures three things: time, energy, and natural resources. Three fixed quantities that we cannot create out of thin air." - Svetski |
EmoticonEmoticon