Bitcoin Is Money

Your daily selection of the hottest trending tech news!

According to (This article and its images were originally posted on Hacker Noon November 18, 2018 at 04:46PM.)

TLDR: Money is a tool for recording value exchanged among economic participants. One way to record such value is in a digital ledger. Bitcoin is the first digital ledger to figure out how to prevent the State from destroying it. Bitcoin’s deflationary monetary policy provides an alternative to state-fiat money’s inflationary paradigm.
What is money?
Money is art. Money attempts to transport one person’s subjective experience into another’s mind: the experience of valuing something. However imperfectly, money lets one person answer another: How much is this worth to you?
Money is true speech. The payment of money for some good is a claim about how much I value that good. It cannot be faked because the act of payment requires a commensurate sacrifice of value. Any business trying to charge for a product understands the difference between a user’s white lie “I value this” and the customer’s true claim “I value this” proven with payment.

|
+ Got any news, tips or want to contact us directly? Feel free to email us: esistme@gmail.com.

To see more posts like these; please subscribe to our newsletter. By entering a valid email, you’ll receive top trending reports delivered to your inbox.

__

This article and images were originally posted on [Hacker Noon] November 18, 2018 at 04:46PM. Credit to the original author and Hacker Noon | ESIST.T>G>S Recommended Articles Of The Day.

 

 

 

Advertisements

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.