42 sats \ 3 replies \ @random_ 6 May \ on: I have questions about Bitcoin! bitcoin_beginners
From the first sentence of the whitepaper:
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one peer to another without going through a financial institution"
The block subsidy goes to zero. A diffusion process begins. Whales begin to die. Shrimp begin to grow.
When honesty is optional, trust is a vulnerability.
An open predictable monetary policy allows one to make informed decisions about their wealth. Having a true store of value will allow one to prepare for the future.
Big banks get bailed out. Inflation. Unemployment. Bitcoin is seen as a risky asset so potentially NGD.
Thank you! My next question that many would ask:
- What happens if the systems go down?
I am playing devils advocate here so I can get a really clear view, not because I disagree :)
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What happens if the systems go down?
Bitcoin is a fault tolerant distributed network. There are thousands of nodes around the world. They can join and leave the network at will. It would take a world wide cataclysmic event to bring down every one of these nodes in a way that they cannot be brought back online. My guess is we'll have bigger problems to worry about if that happens.
Here's a game to visualize the concept.
https://bitcoin-battleship.vercel.app/
h/t @jasonb
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Thank you for this! I love games so when I get some time I will be happily clicking this link!
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