Bitcoin is so much more than money
Money is just the first use case, it’s going to disrupt much more than the financial system
The problem with explaining Bitcoin is that it truly is revolutionary. Most innovations are explained by comparing them to what they have built upon or improved. That doesn’t work with Bitcoin. There is no mainstream frame of reference to start at.
People talk about how much it’s worth a lot. Too much. How many dollars it’s worth is one of the least exciting things about Bitcoin (and the cryptocurrencies it’s spawned). It’s like trying to put a dollar value on the Internet; it’s missing the point. But, monetary value is the closest thing we have to a mainstream frame of reference, it makes the foreign seem more familiar and thus money is as good a starting point as any.
Bitcoin can be better money than anything else we use today. It is harder to counterfeit, easier to transfer, and impossible to shut down or censor.
Here’s a list of ideal money properties. (More about the properties of money here.)
- Divisible: Can be divided into smaller units of value.
- Fungible: One unit is viewed as interchangeable with another.
- Portable: Individuals can carry money with them and transfer it to…
