I am kind of embarrassed to admit that after all these years, I still don't understand Bitcoin. Not the underlying software and algorithms - but the concept, the system. I can maybe see where it'd be useful in minimizing electronic transaction costs. But, most transaction costs (credit card fees) that I pay are already rolled into the price of things, so I don't benefit by purchasing them with Bitcoin. And, I guess I…
> I am kind of embarrassed to admit that after all these years, I still don't understand Bitcoin. Not the underlying software and algorithms - but the concept, the system. You don't have to be embarrassed. Surprisingly 99.9% of the people doesn't know how our monetary/banking system works (creating money out of thin air) but that doesn't prevent them from using $ or €... Henry Ford once said: "It is well enough that…
Re: What Is a Bitcoin, Really?
#51this. This https://www.youtube.com/watch?v=8Fm5NSeVPog about the Fed seems to be less sensational than others.