5: What is bitcoin? Bitcoin vs. bitcoin
The more you study Bitcoin, the harder it becomes to define it.
However, before we go any further, it’s important to make a clarification. bitcoin is the currency. Bitcoin is the network.
Additionally, while Bitcoin’s stated goal in the white paper was to decentralize financial transactions and facilitate peer-to-peer transactions, while also solving the double-spending problem, two key attributes were implicitly stated and shouldn’t be overlooked:
21,000,000 + scarce resource = restores sound money
PoW is revolutionary.
Here’s a few definitions of bitcoin:
Money The Whole World Can Use
Freedom money (h/t Alex Gladstein)
Property Every Person Can Own
Economic Energy (h/t Michael Saylor)
(Digital) Energy / Savings Technology; First way for humanity to store energy for generations
The Ecological Currency of Digital Life (h/t Dhruv Bansal)
The Next World Reserve Currency (in my opinion)
And, here’s a few definitions/use-cases of Bitcoin:
The First Blockchain (& the only one that matters)
Tool for addressing the issues of energy inequity and energy poverty
Tool for facilitating the energy transition, stabilizing grids & capturing/utilizing stranded energy
Protector of Human Rights
Proof of Work Cybersecurity System (h/t Jason Lowery)
Allows people to act with a long-term mindset, with empathy, and with inclusion because it is coded for moral
soundness
Finally, here’s what it is not:
Crypto
Blockchain
So you have this early on, here is an incredible resource list from Jameson Lopp, a bitcoiner you must know.
