Final week, the world celebrated the sixteenth anniversary of the Bitcoin whitepaper.
Whereas Bitcoin didn’t launch till a number of months after the publication of that white paper, its creation marked a seminal second in financial pondering.
But, 16 years after sharing the conceptual mannequin and 15 years after minting the primary cash, individuals nonetheless don’t know what Bitcoin does, why it issues, or what they need to do with it.
To be honest, Bitcoin hasn’t achieved a lot besides go up in value. Perhaps 5% of individuals use it (most likely much less).
Do not let that disguise its significance. Bitcoin solves a giant downside with cash.
What’s the issue?
You want someone to vouch for it. You want someone to guarantee you that your money is actual, genuine, and price what you say it’s. You want someone to ensure that you’ve got the authority to make use of it.
Some authority wants to ensure your cash is price one thing. In any other case, it’s meaningless.
Ideally, this authority can be competent, trustworthy, honest, reliable, and free. Often, this authority prices charges, makes errors, defrauds you, lies to you, steals from you, colludes in opposition to you, takes your delicate…
