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December 16, 2022, 02:44:41 PM |
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The Bitcoin white paper shows Bitcoin to be widely a trustless form of cash use.
The understanding and workings of this means particular, instead of a whole to myself and assumably many others. As being trustless is mainly visible in usage for us (learners) mainly in Bitcoin storage, and independence on spending. That is, trustless meaning and working to be that you don't have to trust a third party; a bank, a person, or an intermediary that operates between you and your transactions or holdings.
In light of the above, and for better understanding, how do i explain the use of Bitcoin's "trustless" feature to people to cover the part of the recipient in a business transactions, and as a medium of exchange from quite a distance?
I think an explanation to this hasn't been widespread enough thereby profiling Bitcoin more as a store of value than as a tender.
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