Bitcoin
$11,545.92 -0.44%
BTC · 3w

Maybe bitcoin isnt just digital gold, maybe its an entire digital gold vault.

Think of a massive brinks vault, full of gold, all in segregated piles. In fact every ounce of gold ever mined is in this one vault. Tens of millions of people have an account at this vault and by using an app they can transfer their gold from their pile to someone elses pile. Inside the vault there is a robot arm constantly moving the gold to the correct pile each time a transaction is requested. The vault runs itself autonomously, there are no humans, the robot just actions our transactions when we request it to. Its trustless, no humans are involved, no one can break in (not even politicians), and no one can stop the robot from actioning our transactions, it is uncensorable. This is not possible in the real world. In the real world theft is possible, insurance is fallable, trust is required from the vault operators, 3rd parties acting as custodian can censor you, politicians want to control it, governments can seize it, there is no politically neutral place on earth to store the gold. So what do we do? We digitise the vault and all the gold inside it, and move it to the one politically neutral jurisdiction on earth, the internet. Bitcoin is a big theft proof segregated gold vault inside the internet, and every single person on earth has the ability to open an account without anyone elses permission.
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