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Author Topic: Introducing Bitcoin to newbies  (Read 314 times)
Jr. Member
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May 23, 2013, 06:16:49 PM

Bitcoin is probably the best thing that has come along in a long long while. As some members in this forum have called it the more defining moments in our history.

But bitcoin is two things.

1. It's a protocol.

2. And built on top of that protocol is a unit of exchange (also being referred to as bitcoin). I wish this had some other name to it to avoid the confusion with the protocol. Like JR Willett writes on his business cards 'HTTP is to TCP/IP as Mastercoin is to Bitcoin". Perhaps we should just call it 'Mastercoin'. But I digress.

I have written two posts which I hope help explain how it is valuable as that second tool. As a unit of exchange.



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May 23, 2013, 06:34:46 PM

Nice blog.... like the "It's a value problem". Most of the world gets screwed by the centralized FIAT system in place. And even in America, most live hand to mouth, burdened with debt. It can change... but we do know the powers that be can pull the plug if they really want to just by writing a law to make it illegal.
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May 24, 2013, 03:40:41 AM

Thanx for the info.

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