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Bitcoin is a distributed system. This is often frustrating for traditional investors, especially successful ones, who are still learning. The fiat world relies on good people doing good things (who sometimes don't). Bitcoin is not a company. It's is not an industry. And there is no management. It is... show more

Terence Michael

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56,610 görüntüleme • 5 gün önce •via X (Twitter)

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The fiat system is a scam, rigged by those who print the money and write the rules, robbing the rest while calling it “democracy.” #Bitcoin fixes this.

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"Where are the servers of Bitcoin located?” - Prof Jiang That single question from Jiang shows the misunderstanding immediately. Bitcoin does not run on one company’s servers, Bitcoin runs on a distributed network of nodes spread across the world, which is exactly why it is hard to censor, shut down, or control, plus the mining system on top of it to protect it with energy. When someone frames Bitcoin like a centralized system, they are not critiquing Bitcoin as it is. They are critiquing a version of Bitcoin that exists only in their own confusion.

"Where are the servers of Bitcoin located?” - Prof Jiang That single question from Jiang shows the misunderstanding immediately. Bitcoin does not run on one company’s servers, Bitcoin runs on a distributed network of nodes spread across the world, which is exactly why it is hard to censor, shut down, or control, plus the mining system on top of it to protect it with energy. When someone frames Bitcoin like a centralized system, they are not critiquing Bitcoin as it is. They are critiquing a version of Bitcoin that exists only in their own confusion.

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Is this even a good thing for Bitcoin?

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Satoshi Roundtable is later this week. Tech Talk Tuesdays in Dubai asked me about the upcoming event: “My hope is that have for this week is that we embrace what this industry is all about. It’s not about Blackrock, or CBDCs or the filthy broken fiat system - it’s about an alternative to that. A lot of people can point to many broken things in our world. And the root of what is broken is because of the broken money system. The money system is broken. There is death and destruction because of a broken money system and what this technology represents is something different than that. It’s an alternate to that. And that’s what makes it unique and that’s what makes it valuable.”

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Bitcoin is not a software company. It has traded like one because many who own it don't understand it. This drawdown is painful, but it may be the process of washing out levered software capital and letting Bitcoin finally trade like the hard money it is. Hang in there. BTFD.

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This is a common floor system, and there are many good reasons to adopt it. It's not limited only to England in usage.

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JUST IN: Cathie Wood says Bitcoin is three revolutions in one. “A global monetary system, rules based competing against fiat currency. It is a technology revolution and is the leader of a new asset class.”

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