Bitcoin
Sovereign money without an issuer
Fiat
Money issued by a government
Altcoins
Unregistered securities issued by a company
Bitcoin, the first digital scarcity in the world
Capped to only 21 Million coins, with emission cut in half every 4 years named halving, Bitcoin is the most scarce asset in the world, more scarce than gold.
Why the world need Bitcoin?
.1
Trust
The problem with conventional currency is all the trust that’s required to make it work, the central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust
Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve
.2
Proof of Work
Proof of work is modeled on gold mining
You need to expend energy to create more units of currency
You can’t print them up for free like the federal reserve
When strong encryption became available to the masses, trust was no longer required
.3
Descentralization
Bitcoin is the more descentraliced criptocurrency
No one has control over the network and if is attacked the chain splits creating a fork
With censureship resistance and limited to only 21 Million coins, make it the first digital scarcity
The true private property
Bitcoin is the best form of private property without counter party risk
store of value
To avoid defaulting on debt, central banks needs to debased fiat money, loosing purchasing power through time
To preserve wealth you need to hold a finite asset that can’t be debased, with immutable monetary policy
Bitcoin is money for the world
Bitcoin is the first and only digital non sovereign money in the world, an historical accident that cannot be repeated
UNIT OF ACCOUNT
immutable
FUNGIBLE
scarce
