Re:Bitcoin price hits $40k less than three weeks after shatt...
by alwillis on Friday January 08, 2021 @04:42AM
(#25683116)
Electronic cash = money as a bearer instrument
payments = replacing bank wires and ACH payments, not buying coffee
He/she/they meant bitcoin is a bearer instrument like gold and not something that has to be redeemed. It doesn't represent debt the way a federal reserve note (a.k.a. a dollar) does.
Most of the white paper could have been boiled down to this:
Bitcoin is a non-sovereign, hard-capped supply, global, immutable, decentralized digital store of value. Itβs an insurance policy against monetary and fiscal policy irresponsibility from central banks and governments globally.β@Travis_Kling
payments = replacing bank wires and ACH payments, not buying coffee
He/she/they meant bitcoin is a bearer instrument like gold and not something that has to be redeemed. It doesn't represent debt the way a federal reserve note (a.k.a. a dollar) does.
Most of the white paper could have been boiled down to this:
Bitcoin is a non-sovereign, hard-capped supply, global, immutable, decentralized digital store of value. Itβs an insurance policy against monetary and fiscal policy irresponsibility from central banks and governments globally.β@Travis_Kling