PAUL HODL 🍿 on Nostr: "What's the difference between crypto and Bitcoin?" Well, both are objectively ...
"What's the difference between crypto and Bitcoin?"
Well, both are objectively mediums of exchange. They enable the transfer of value across space.
Mediums of exchange generally facilitate the transfer value across time too.
A good store of value is inherently scarce - think precious metals, real estate and art.
Bitcoin has a supply cap of 21 million coins. This rule is programmed into the code and can only be changed with widespread consensus from the network. The consensus is not to increase the supply cap because that will dilute the value across time.
Crypto is different. Its supply can be altered arbitrarily without widespread consensus, often dictated by a centralised body, or in some cases, a single individual. People in power are susceptible to corruption and cannot be trusted. Look no further than the failures of centrally planned inflationary fiat currencies.
Bitcoin fixes this. It is a trustless decentralized network with an immutable fixed supply - essential for transferring value reliably across both space and time.
#AskNostr #Bitcoin #OrangePill #Memestr
Published at
2024-07-17 09:27:28Event JSON
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