The Role of Bitcoin as Money
This is a transcript from a talk Erik gave at the 2013 Bitcoin Conference in San Jose, CA. This remains a solid introduction to the global ramifications of Bitcoin, without getting bogged down in technical details.
EXCERPT
For this talk, Forget the tech. Forget the mining. Forget the cryptography and the peer to peer networks and the open source code. All of these things are secondary to an understanding of money itself. The core of the Bitcoin experiment is not about tech at all, itβs about money.
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Bitcoin, like gold, has properties that make it an excellent form of money. However, unlike gold, Bitcoin can actually be used in our modern economy for day to day exchange.
Unlike gold, Bitcoin, as an asset with no counter-party risk, can be transferred to anyone on the planet in one second. It is super hero currency. And nobodyβs permission is needed. There are no terms of service.
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