What bitcoin is and isn’t
What BitCoin is
So there aren’t many reasons to use bitcoin over cash, but there are still reasons to incorporate bitcoin into your life. Both examples I gave earlier, of decentralization and the slowly decreasing inflation rate, are reasons to use bitcoin as a commodity.
Some people like to call bitcoin a digital gold, because it’s just that. A way to store value, but not a logical way to make everyday transactions.
Proof of Work
Why can’t proof of work be productive work? Right now, it is just like solving puzzles. One could argue that the productive work lies in making the network more secure by providing tougher and tougher crypto challenges.
A shared record book (ledger)?
For cyber currencies
No Bank?
The genius of this shared record book is that it requires no bank, no centrally owned company, and you don’t have to place your trust in any financial institution… there doesn’t need to be any middleman of any kind.
Unfudgeable
Anuj holds professional certifications in Google Cloud, AWS as well as certifications in Docker and App Performance Tools such as New Relic. He specializes in Cloud Security, Data Encryption and Container Technologies.
Anuj Varma – who has written 1214 posts on Anuj Varma, Hands-On Technology Architect, Clean Air Activist.
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