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 considering.
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 executed a lot besides go up in worth. Perhaps 5% of individuals use it (in all probability much less).
Do not let that disguise its significance. Bitcoin solves a giant drawback with cash.
What’s the issue?
You want any individual to vouch for it. You want any individual to guarantee you that your money is actual, genuine, and price what you say it’s. You want any individual to ensure that you’ve got the authority to make use of it.
Some authority wants to verify your cash is price one thing. In any other case, it’s meaningless.
Ideally, this authority can be competent, trustworthy, honest, reliable, and free. Normally, this authority prices charges, makes errors, defrauds you, lies to you, steals from you, colludes towards you, takes your delicate…
