QUEST
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metamitya
metamitya
bitcoin is digital money that you can store and send online that is not controlled by a central authority like a bank, or nation-state.
09/12/17
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metamitya
metamitya
what are the advantages of bitcoin over services like online banking or paypal?
09/12/17
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metamitya
metamitya
#bitcoin is a peer to peer #network meaning that it is agreed upon and sustained by anyone willing to run the open-source #bitcoin software.
10/10/17
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metamitya
metamitya
this makes it free of the movement restrictions of the current monetary order providing a faster & cheaper user experience.
09/12/17
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metamitya
metamitya
#bitcoin transactions are recorded pseudonymously so that business can be conducted privately, and free of censorship.
10/10/17
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metamitya
metamitya
there are many examples of national currencies being manipulated for the benefit of the banks, or the host government.
09/12/17
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metamitya
metamitya
#bitcoin isn't controlled by anyone so it is optimized for the benefit of its users. it is not subject to inflation by central bank decree.
10/10/17
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metamitya
metamitya
#bitcoin is powered by a technology called the blockchain.
10/10/17
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metamitya
metamitya
#bitcoin is secured by #cryptography, the mathematics of hiding the meanings of messages.
10/10/17
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metamitya
metamitya
this means #bitcoin can be mathematically proven to be secure, which gives it an advantage over the traditional banking system.
10/10/17
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metamitya
metamitya
because #bitcoin is peer to peer and mathematically secure it is a trust dis-mediator.
10/10/17
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metamitya
metamitya
#bitcoin has the power to obsolete banks and other middlemen which provide trust in many financial transactions.
10/10/17
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metamitya
metamitya
this along with ethereum's smart contracts will shift the balance of power away from banks and governments and towards individuals.
09/13/17
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metamitya
metamitya
this will reorganize our civilization.
10/10/17