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5 sats \ 0 replies \ @HardMoney 12 Oct 2022 \ on: What are your top orange-pilling tips? bitcoin
First, you have to explain the problem and provide a high level history of money
Money = a counter balance of human time creating productive things
Money has 2 use cases
- Value across space
- Value across time
When money does these things it becomes a unit of account
Fiat System
Value across space = dollar
Value across time = house backed by debt
Gold
Value across space = note with counter party risk = reason for fiat
Value across time = bearer resource hard to counterfeit
Bitcoin
Value across space = Lightning
Value across time = bearer property native to a distributed ledger (impossible to counterfeit)
Money is broken which is causing the issues we see today
Bitcoin is a near perfect money in the sense that its as scarce as our most limited resource; time
Money has always been an abstraction of value tied to a resource, and then to a ledger (Value to Gold to a ledger).
Bitcoin is an abstraction of value tied to a ledger without counter party risk...which is the revolutionary breakthrough