To Understand The Bitcoin Ark, You Must Understand The Fiat Flood
Bitcoin is a lifeboat for escaping a broken system, but one needs to understand that system in order to see that.In the story of Noah’s Ark in the Book of Genesis, God has come to a decision. Man had strayed far from God’s instruction, and annihilation was the chosen solution to set straight our wayward kind. Noah was known to be a virtuous man, so he and his family were chosen by God to repopulate the Earth in the days succeeding the Great Flood.God informed Noah of his plan for the flood and instructed him to build an ark for himself, his family, and at least two of every species of....
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Xapo CEO and founder Wences Casares explains the history of money in a Big Think video about Bitcoin. His explanation of the history of money is below. “Bitcoin is a new digital currency that is perhaps the best form of money that we have ever seen. It’s important because most of us don’t understand money very well and perhaps the concept that is harder for us to understand is that money is and has always been a ledger. …the best way to understand money is to understand the history of money.
An understanding of what bitcoin is, how it works and its various features and benefits have, in the bitcoin space, traditionally been viewed as a key component of mainstream adoption. How can the general public be expected to switch from things like PayPal, fiat, Visa etc., if they don’t understand how what they are switching to works? There is some common sense in this view. Individuals who lack an understanding of cryptocurrency are more often than not intimidated by its seeming complexity, and this puts them off using it to transact. The conclusions of a recent study, however, go....
Thought Bitcoin was a currency? Think again… Definitions are useful. They help us understand what we are talking about and by being specific and precise we can understand more about our actions and our behaviour. So let’s look at Bitcoin and find out what Bitcoin really is. Is Bitcoin a currency? No. The general definition of a currency is that it is a unit of accepted value that facilitates exchange. Many argue that because Bitcoin can be used to make payments, it is a currency – however, stating a price in Bitcoin is largely meaningless, because the value changes so dramatically. Most....
The more people understand the blockchain, the more we will see a proliferation of useful cases for it. Just like any technology, those who invent it have not necessarily thought of all of its applications, which is why I believe that the best use cases are yet to come from a growing number of entrepreneurs and subject-matter experts that have deep expertise in a particular field or domain. But, the first step is to have a fundamental understanding of how blockchain technology is different from what we are currently doing today. Almost everything in life is about taking evolutionary steps.....
By changing the way we display denominations of value in bitcoin, we can make it easier to onboard people who may not understand bitcoin’s divisibility.