Bitcoin: Start Here

Mindset

To understand Bitcoin, you have to open your mind:

  • Some things you have learned are not true

  • Some things you take for granted, you don’t understand

  • People did not understand Radio; People did not understand Television; People did not understand the Telephone; People did not understand a telephone without wires; People did not understand the Internet — Bitcoin is like that, but times 100.

What is Money?

To understand Bitcoin, you have to first understand money.

Money is a store of value for time and/or energy someone has invested. It allows you to create value today, save the value, and use the value in the future. Shifting value from the present into the future, if the money holds its value.

Hard Money

Hard money is a term that means the overall supply of the money is fixed or is growing slowly. If the supply of money is diluted, your existing value is diluted. If this happens over time, you are incentivized to spend your money (value) now, and not hold into the future. Fiat currencies are not Hard Money. Gold and Bitcoin are.

 
BitcoinRob O'Keefe1 Comment