To Know Bitcoin Is To Love Bitcoin


understanding of the bitcoin protocol vs confidence in success

It is my contention that an individual’s certainty of the inevitable success of the Bitcoin protocol is asymptotically correlated to that person’s understanding of it. Behind the Bitcoin protocol is an amalgam of technologies that work together to create a whole greater than the sum of its parts. To fully understand the profundity of this invention so early in its life, a person needs to have a hungry curiosity as well as the willingness to dedicate many, many hours of focused effort on key educational materials that span a variety of disciplines.

In the meantime, however, I will say: Understanding Bitcoin starts with understanding money. And that starts with realizing that you may not yet understand money from a first principles foundation.

Since the beginning of the technology which our civilization collectively refers to as “money,” the preferred value exchange medium of every age has always been naturally emergent and collectively agreed upon by a free market of trade due to specific attributes of that medium. Early examples include seashells, bones, beads, stones, and precious metals.

Source link Bitcoin Magazine


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