{"id":386809,"date":"2021-12-28T19:32:09","date_gmt":"2021-12-28T16:32:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/a-new-intro-to-bitcoin-the-9-minute-read-that-could-change-your-life\/"},"modified":"2021-12-28T19:32:09","modified_gmt":"2021-12-28T16:32:09","slug":"a-new-intro-to-bitcoin-the-9-minute-read-that-could-change-your-life","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/a-new-intro-to-bitcoin-the-9-minute-read-that-could-change-your-life\/","title":{"rendered":"#A New Intro to Bitcoin: The 9 Minute Read That Could Change Your Life"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a400a4564d6a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a400a4564d6a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/a-new-intro-to-bitcoin-the-9-minute-read-that-could-change-your-life\/#There_are_babies_in_the_bathwater\" >There are babies in the bathwater<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/a-new-intro-to-bitcoin-the-9-minute-read-that-could-change-your-life\/#Bitcoin_is_not_going_away\" >Bitcoin is not going away<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/a-new-intro-to-bitcoin-the-9-minute-read-that-could-change-your-life\/#Bitcoin_has_value_because_it_is_useful\" >Bitcoin has value because it is useful<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/a-new-intro-to-bitcoin-the-9-minute-read-that-could-change-your-life\/#Bitcoin_will_not_be_stopped\" >Bitcoin will not be stopped<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/a-new-intro-to-bitcoin-the-9-minute-read-that-could-change-your-life\/#Bitcoin_will_not_be_replaced\" >Bitcoin will not be replaced<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/a-new-intro-to-bitcoin-the-9-minute-read-that-could-change-your-life\/#Bitcoin_is_good_for_people\" >Bitcoin is good for people<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/a-new-intro-to-bitcoin-the-9-minute-read-that-could-change-your-life\/#Bitcoin_is_good_for_the_planet\" >Bitcoin is good for the planet<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/buradabiliyorum.com\/en\/a-new-intro-to-bitcoin-the-9-minute-read-that-could-change-your-life\/#Bitcoin_is_an_alternative_to_war\" >Bitcoin is an alternative to war<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/buradabiliyorum.com\/en\/a-new-intro-to-bitcoin-the-9-minute-read-that-could-change-your-life\/#You_should_own_some_Bitcoin_either_way\" >You should own some Bitcoin either way<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/buradabiliyorum.com\/en\/a-new-intro-to-bitcoin-the-9-minute-read-that-could-change-your-life\/#Keep_your_mind_open\" >Keep your mind open<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#A New Intro to Bitcoin: The 9 Minute Read That Could Change Your Life<\/strong>&#8221;<\/p>\n<p style=\"float:right;margin:0 0 10px 15px;width:240px\"><img decoding=\"async\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/12\/New-Intro-to-Bitcoin-2022.jpg\" class=\"type:primaryImage\"><\/p>\n<pre><code>                &lt;p&gt;&lt;strong&gt;By now you\u2019ve probably heard of Bitcoin. You may have heard that it\u2019s made some people rich.&lt;\/strong&gt; You may also have heard that it\u2019s a new form of digital money, and that it\u2019s the future of commerce; or that it\u2019s a criminal enterprise, and that it\u2019s bad for the planet.\n<\/code><\/pre>\n<p>The messaging is confused and confusing  which is partly because no one person controls it. Just like Bitcoin, which belongs to\u2026 well, all of us.<\/p>\n<p>In this short essay I want to help the Bitcoin-curious understand a few facts about the world\u2019s top cryptocurrency. It\u2019s not technical, and it\u2019s not hard to follow. It\u2019s not comprehensive, either, which is why this article is peppered with links so you can find out more.<\/p>\n<p>I\u2019m not advocating for Bitcoin as an investment, although I do think it\u2019s worth owning a little. I\u2019m just trying to set the record straight on a few misconceptions, and to help newcomers to the Bitcoin community get up to speed quickly with a few key concepts. Hopefully if you\u2019re reading this with an open mind, you\u2019ll realize quickly that there\u2019s much more to Bitcoin that its price.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"There_are_babies_in_the_bathwater\"><\/span><strong>There are babies in the bathwater<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">Lets start by getting a few things out of the way: cryptocurrency is a dangerous and often ugly place. There are countless scams, hacks and exploits. It <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eals to degenerate gamblers and criminals and fools. Motivated reasoning and sunk cost fallacy prop up bad ideas long after they should have collapsed. Con artists thrive in the open and ordinary people often lose their money. The crypto space is 95% bullshit by volume, so its understandable that some people conclude it must be entirely bullshit.<\/span><\/p>\n<p><span style=\"font-weight: 400\">But <em>mostly<\/em> bullshit is not the same thing as <em>entirely<\/em> bullshit. Dismissing crypto because it is full of scams is like dismissing <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> because the average Tweet is terrible. The problem is not that Twitter (or crypto) have nothing to offer. The problem is that it takes time and energy to learn how to dig through the bullshit and find the genuinely interesting ideas.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Rejecting cryptocurrency entirely is much easier and seems to offer a lot of moral clarity  but it leaves behind a nagging question: if cryptocurrency is so obviously awful, why doesnt it just die?<\/span><\/p>\n<p>\u00a0<\/p>\n<figure id=\"attachment_10507\" aria-describedby=\"caption-attachment-10507\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"size-large wp-image-10507\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/12\/Bitcoin-vs-DotCom-and-other-Bubble-Assets-1024x468.jpeg\" alt=\"Bitcoin vs Dot Com assets and other bubbles\" width=\"1024\" height=\"468\" \/><figcaption id=\"caption-attachment-10507\" class=\"wp-caption-text\">Bitcoin vs DotCom and other asset bubbles \/ https:\/\/twitter.com\/JamesTodaroMD<\/figcaption><\/figure>\n<p>\u00a0<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoin_is_not_going_away\"><\/span><b>Bitcoin is not going away<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">An interesting thing about Bitcoin is that almost no one believes in it right away. Bitcoins design is so ugly and counterintuitive that almost everyone rejects it at first as impossible. It was around three years between when I first heard about Bitcoin, and when I finally started to seriously investigate it. I studied <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> theory and mechanism design in grad school, so I knew exactly why Bitcoin couldnt work. I just couldnt figure out why it was still around.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In theory I was confident that Bitcoin could not exist\u2026 but in practice it did and when theory conflicts with observed reality, it is theory that must change. <strong>I became skeptical of my skepticism.<\/strong> I read <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitcoin.org\/bitcoin.pdf\"><span style=\"font-weight: 400\">the whitepaper<\/span><\/a><span style=\"font-weight: 400\">. I changed my mind.<\/span><\/p>\n<blockquote>\n<blockquote class=\"pullquote align-center\"><p><span style=\"font-weight: 400\">More than anything I can write or say the most compelling evidence that Bitcoin works as advertised is the history of its operation so far. The longer Bitcoin continues to exist, the more seriously you should take it.<\/span><\/p>\n<\/blockquote>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">The academic term for this is the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/en.wikipedia.org\/wiki\/Lindy_effect\"><span style=\"font-weight: 400\">Lindy effect<\/span><\/a><span style=\"font-weight: 400\">, the idea that the longer something has survived the longer you should expect it to continue. We could all collectively decide tomorrow that gold is no longer valuable and we could decide to keep listening to todays hit singles forever. But we probably wont.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Gold has been valuable for a long time, so it will probably still be valuable a long time from now. Todays top songs are mostly new, which suggests tomorrows top songs will probably mostly be new as well. The continued existence of something is evidence it will continue existing. Thats the Lindy effect.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Thats why governments around the world have stopped ignoring Bitcoin and started to develop formal policies to<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.somethinginteresting.news\/p\/here-we-go-again-i-guess\"><span style=\"font-weight: 400\">outlaw<\/span><\/a><span style=\"font-weight: 400\">, <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.somethinginteresting.news\/p\/bitcoin-hits-another-all-time-high\"><span style=\"font-weight: 400\">regulate<\/span><\/a><span style=\"font-weight: 400\"> or <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.somethinginteresting.news\/p\/this-isnt-just-about-el-salvador\"><span style=\"font-weight: 400\">adopt<\/span><\/a><span style=\"font-weight: 400\"> it<\/span><span style=\"font-weight: 400\">. A policy of ignoring Bitcoin and assuming it will go away on its own is no longer realistic. If Bitcoin was going to go away on its own, it already would have.<\/span><\/p>\n<p>\u00a0<\/p>\n<h3><b><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-10512\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/12\/Ponzi-will-not-reveal-secret.png\" alt=\"Ponzi will not reveal secret\" width=\"512\" height=\"215\" \/><\/b><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoin_has_value_because_it_is_useful\"><\/span><b>Bitcoin has value because it is useful<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">A common objection to Bitcoin is that since they arent backed by anything they must not be worth anything. Since they dont have any intrinsic utility they must be a <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/en.wikipedia.org\/wiki\/Greater_fool_theory\"><span style=\"font-weight: 400\">greater fools game<\/span><\/a><span style=\"font-weight: 400\">, where the only goal is to sell your worthless bags at a higher price to an even greater fool than you. It is true that the only use for Bitcoin is to transfer your bitcoin to someone else  but that doesnt mean Bitcoin is useless. Transferring value is a valuable service. Thats why banking is so lucrative.<\/span><\/p>\n<p style=\"text-align: center\"><i><span style=\"font-weight: 400\">As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties: \u2013 boring grey in colour \u2013 not a good conductor of electricity \u2013 not particularly strong, but not ductile or easily malleable either \u2013 not useful for any practical or ornamental purpose and one special, magical property: \u2013 can be transported over a communications channel If it somehow acquired any value at all for whatever reason, then anyone wanting to transfer wealth over a long distance could buy some, transmit it, and have the recipient sell it.  Satoshi Nakamoto<\/span><\/i><\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.somethinginteresting.news\/p\/what-is-money\"><span style=\"font-weight: 400\">Money is a technology for transporting value through space and time<\/span><\/a><span style=\"font-weight: 400\">. Bitcoin is a vehicle for value that eliminates physical distance and cannot be diluted, seized or censored. It is the value of that service that \u201cbacks\u201d the value of Bitcoin.<\/span><\/p>\n<p>\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#8220;I think there&#039;s no capacity to kill bitcoin&#8221; says <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PatrickMcHenry?ref_src=twsrc%5Etfw\">@PatrickMcHenry<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/btc?src=hash&amp;ref_src=twsrc%5Etfw\">#btc<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/DY70tx2TvV\">pic.twitter.com\/DY70tx2TvV<\/a><\/p>\n<p>\u2014 Squawk Box (@SquawkCNBC) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1151467890782216194?ref_src=twsrc%5Etfw\">July 17, 2019<\/a><\/p>\n<\/blockquote>\n<h3><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoin_will_not_be_stopped\"><\/span><b>Bitcoin will not be stopped<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">Bitcoin does not have a central point of control so the only way to \u201cstop\u201d Bitcoin is to stop every person on the Bitcoin network individually. Even shutting down the entire internet wouldnt work because you can connect with the Bitcoin network<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/news.bitcoin.com\/no-internet-no-problem-how-to-send-bitcoin-by-amateur-radio\/\"><span style=\"font-weight: 400\">over radio<\/span><\/a><span style=\"font-weight: 400\"> or <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blockstream.com\/satellite\/\"><span style=\"font-weight: 400\">by satellite<\/span><\/a><span style=\"font-weight: 400\">.<\/span><span style=\"font-weight: 400\"> By any realistic measure the network itself cannot be stopped.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Governments can of course outlaw cryptocurrency (several have) but making Bitcoin transactions illegal is like making drug use illegal  it doesnt eliminate it so much as drive it underground. China is a powerful, authoritarian state that <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.somethinginteresting.news\/p\/here-we-go-again-i-guess\"><span style=\"font-weight: 400\">has repeatedly banned Bitcoin<\/span><\/a><span style=\"font-weight: 400\">, but you cant actually ban Bitcoin from China because Bitcoin has no concept of China. China can only choose to isolate themselves from the network.<\/span><\/p>\n<p><span style=\"font-weight: 400\">But what if governments go farther and actually attack the network? They could secretly acquire or seize mining rigs and set them to mining empty blocks, slowing down the network and reducing revenue for honest miners. They could market sell the rewards they earn mining and open short positions to drive down the price of Bitcoin further damaging miner revenue and market confidence. As miners quit defending the network attackers will control more of it, causing a feedback loop \/ death spiral.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Attacks like this are easiest to picture with an abstract, monolithic world government. It is less clear how they would work in the context of actual world governments today. The two most obvious governments in practice that might launch such an attack are the US and China. <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.somethinginteresting.news\/p\/bitcoin-is-antifragile-nassim-taleb\"><span style=\"font-weight: 400\">China has been systematically working to expel all the mining rigs from its borders<\/span><\/a><span style=\"font-weight: 400\">  so they arent exactly gearing up to launch a mining based attack on the network.<\/span><\/p>\n<p>\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">China&#039;s $1 Trillion mistake, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> miners being shipped away. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/wxoO9BMDUy\">pic.twitter.com\/wxoO9BMDUy<\/a><\/p>\n<p>\u2014 Documenting Bitcoin  (@DocumentingBTC) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DocumentingBTC\/status\/1409156512925224965?ref_src=twsrc%5Etfw\">June 27, 2021<\/a><\/p>\n<\/blockquote>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">America also seems like an unlikely candidate to launch an attack on the network. Seizing private property like mining rigs outside the context of a conventional war would be an unusual and politically explosive precedent. More pragmatically, <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/markets.businessinsider.com\/news\/currencies\/crypto-companies-lobbying-congress-regulation-cryptocurrency-2021-12\"><span style=\"font-weight: 400\">cryptocurrency has matured into an effective lobbying group<\/span><\/a><span style=\"font-weight: 400\">. Sitting Congressional representatives in both parties own Bitcoin and have made support for cryptocurrency part of their platform. <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SenLummis\/status\/1405282682884354050?s=20\"><span style=\"font-weight: 400\">Some have even made it their signature issue<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p>\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A Bipartisan group of U.S. Senators just wrote a letter to Treasury Secretary Janet Yellen informing her that she hasnt done her homework on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/St4KkMMITj\">pic.twitter.com\/St4KkMMITj<\/a><\/p>\n<p>\u2014 Dennis Porter (@Dennis_Porter_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Dennis_Porter_\/status\/1470905408281735171?ref_src=twsrc%5Etfw\">December 14, 2021<\/a><\/p>\n<\/blockquote>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">A sufficiently powerful, ideologically motivated attack could suppress the Bitcoin network, but it would be expensive to maintain and wouldnt prevent the network from resuming normal operation after the attack stopped. The game theory of what happens when motivated attackers and defenders clash over a blockchain is complicated and reasonable people can disagree about what it might mean. But the two most powerful governments in the world today are either embracing Bitcoin or systematically disarming themselves.<\/span><\/p>\n<p>\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">THREAD: <\/p>\n<p>Many things set <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> apart from any altcoin.  But keep it simple, no technical metrics needed.<\/p>\n<p>Three elements to consider:<br \/>\u2013 Digital scarcity is a one-time phenomenon<br \/>\u2013 Schelling points<br \/>\u2013 Money is the mother of all network effects &amp; tends to one <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/yBcso6Z66p\">pic.twitter.com\/yBcso6Z66p<\/a><\/p>\n<p>\u2014 Croesus  (@Croesus_BTC) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Croesus_BTC\/status\/1376606338642444291?ref_src=twsrc%5Etfw\">March 29, 2021<\/a><\/p>\n<\/blockquote>\n<p>\u00a0<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoin_will_not_be_replaced\"><\/span><b>Bitcoin will not be replaced<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">Bitcoin is (by design) a very limited system. You can pretty much only use it to send and receive Bitcoin. It is very difficult to change (also by design) so it adopts new <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> very slowly if at all. That can seem primitive and sluggish to outsiders but being resistant to change is the central value proposition of Bitcoin. You cant make a better Bitcoin by making a Bitcoin that is easier to change.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Bitcoin is better understood as a social revolution than a technological one. No new cryptocurrency can achieve the same results as Bitcoin because the social context in which it was created is gone now. For the first year and a half of its existence Bitcoin was essentially free  <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/web.archive.org\/web\/20100703032414\/http:\/\/freebitcoins.appspot.com\/\"><span style=\"font-weight: 400\">there was a website called the Bitcoin faucet that gave users 5 BTC just for solving a CAPTCHA<\/span><\/a><span style=\"font-weight: 400\">. Satoshi disappeared before the project hit major prominence and never collected any kind of special founders rewards for his efforts. Even if a new project could somehow recreate these conditions they still couldnt recreate the history of proven operation since.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Other cryptocurrency projects may still prove useful \/ valuable  but not by outcompeting Bitcoin to be the best money. If they are successful it will be because they optimized to serve a different use case.<\/span><\/p>\n<blockquote class=\"pullquote align-center\"><p><span style=\"font-weight: 400\">They wont replace Bitcoin, they will exist alongside it.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">In short, Bitcoin works as advertised<\/span><\/p>\n<p><span style=\"font-weight: 400\">Bitcoin has operated continuously outside of anyones control for more than twelve years now  that fact alone should merit serious attention even from skeptics. It has not been hacked, censored, halted or controlled. It has survived bubbles and crashes, attempts to commandeer it or to outlaw it or to obsolete it. That history of operation is a growing body of circumstantial evidence that Bitcoin really is what it claims to be: a perfectly scarce, sovereign asset.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The growing body of evidence that Bitcoin is real means that responsible people need to start planning for that possibility. What does the existence of a universally available, perfectly scarce asset mean for the world?<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<figure id=\"attachment_10518\" aria-describedby=\"caption-attachment-10518\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"size-large wp-image-10518\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/12\/Countries-with-double-digit-inflation-need-Bitcoin-1024x637.jpeg\" alt=\"Countries with double digit inflation\" width=\"1024\" height=\"637\" \/><figcaption id=\"caption-attachment-10518\" class=\"wp-caption-text\">Image: Blockdata.tech<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoin_is_good_for_people\"><\/span><b>Bitcoin is good for people<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">Bitcoin is often accused of being principally useful for criminals but that isnt really true. <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.chainalysis.com\/reports\/2021-crypto-crime-report-intro-ransomware-scams-darknet-markets\/\"><span style=\"font-weight: 400\">Criminal activity on Bitcoin peaked at ~2% in 2019 and fell to ~0.34% in 2020. Bitcoin transactions create permanent and public records<\/span><\/a><span style=\"font-weight: 400\">. Most criminals would rather do business in US dollars. <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.somethinginteresting.news\/p\/friday\"><span style=\"font-weight: 400\">Bitcoin is actually mostly used for saving<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Bitcoin is good for the poor because <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BitcoinIsSaving\/status\/1459384689530126336?s=20\"><span style=\"font-weight: 400\">inflation weighs most heavily on the poor<\/span><\/a><span style=\"font-weight: 400\">. If your net worth is mostly cash and future cash-denominated wages inflation is a drain on your wealth. If your net worth is mostly investments and property inflation just changes the numbers next to your accounts  it doesnt cost you anything. In countries with runaway inflation Bitcoin is a safe haven for the poor.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Bitcoin is also valuable for activists like <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/qz.com\/africa\/1922466\/how-bitcoin-powered-nigerias-endsars-protests\/\"><span style=\"font-weight: 400\">feminist protestors in Nigeria<\/span><\/a><span style=\"font-weight: 400\"> or dissident politicians like <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coindesk.com\/markets\/2021\/06\/03\/russian-political-activists-urge-supporters-to-learn-about-crypto\/\"><span style=\"font-weight: 400\">Alexei Navalny in Russia<\/span><\/a><span style=\"font-weight: 400\"> or disenfranchised groups like <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coindesk.com\/business\/2014\/06\/07\/how-bitcoin-helps-afghan-girls-achieve-financial-freedom\/\"><span style=\"font-weight: 400\">unbanked women in Afghanistan<\/span><\/a><span style=\"font-weight: 400\">. Alex Gladstein of the Human Rights Foundation has called it an \u201cessential tool for preserving freedom.\u201d<\/span><\/p>\n<p>\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Why Bitcoin matters for human rights, in two minutes. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/7whCGZKEXi\">pic.twitter.com\/7whCGZKEXi<\/a><\/p>\n<p>\u2014 Alex Gladstein   (@gladstein) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/gladstein\/status\/1275901917579763712?ref_src=twsrc%5Etfw\">June 24, 2020<\/a><\/p>\n<\/blockquote>\n<p>\u00a0<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoin_is_good_for_the_planet\"><\/span><b>Bitcoin is good for the planet<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">In spite of the reputation it sometimes has in mainstream media Bitcoin is actually good for the environment. <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.somethinginteresting.news\/p\/how-much-energy-does-bitcoin-really\"><span style=\"font-weight: 400\">Bitcoin uses a lot of energy<\/span><\/a><span style=\"font-weight: 400\">, but it is a scavenger that feeds on low-cost waste energy. Energy is much, much easier to produce than it is to store or transport which means a lot of energy is wasted.<\/span><\/p>\n<p><span style=\"font-weight: 400\">For example oil mining often produces natural gas as a side effect. When it is convenient oil companies will sell that natural gas  but often oil is mined in remote locations so it is not easy or cheap to bring that gas to market. Instead in practice oil companies simply vent that gas into the air and light it on fire, a practice called flaring. <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ccaf.io\/cbeci\/index\/comparisons\"><span style=\"font-weight: 400\">By the estimates of the CBECI enough gas is flared globally to power the Bitcoin network ~6x over<\/span><\/a><span style=\"font-weight: 400\">. Here is how large flaring is relative to other sources of carbon dioxide emissions:<\/span><\/p>\n<p>\u00a0<\/p>\n<figure id=\"attachment_10519\" aria-describedby=\"caption-attachment-10519\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"size-large wp-image-10519\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/12\/Flaring-emissions-Bitcoin-is-good-for-the-planet-1024x576.png\" alt=\"Flaring emissions - Bitcoin energy usage is good for the planet\" width=\"1024\" height=\"576\" \/><figcaption id=\"caption-attachment-10519\" class=\"wp-caption-text\">Image: GlobalCarbonProject.org<\/figcaption><\/figure>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">Several companies are building <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/upstreamdatainc\/status\/1289327764131078145\"><span style=\"font-weight: 400\">traveling Bitcoin mining rigs<\/span><\/a><span style=\"font-weight: 400\"> that can go to the vents and use that natural gas on site to mine Bitcoin. That causes Bitcoins energy use to go up, but it actually has a positive impact on the environment because using natural gas is much better than flaring it. Both flaring and using natural gas produce carbon dioxide but flaring (which is often inefficient and incomplete) can also release methane and NOx into the atmosphere as well. Methane damages the ozone layer and NOx contributes to acid rain. Using the graph of Bitcoins energy use as a proxy for its environmental impact is misleading.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Bitcoin mining is also really useful for renewable energy because lots of renewable energy is produced at off-peak hours when it is less valuable. The Bitcoin network acts as a \u201cbuyer of last resort\u201d for energy producers, which makes renewable power more economically viable. Bitcoin effectively subsidizes the creation of more renewable energy by creating a market for their excess power. Thats why <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Seetee_io\/status\/1368831882192896001\"><span style=\"font-weight: 400\">renewable energy companies are starting to add Bitcoin mining to their operations<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">A lot of anti-Bitcoin critics cite environmentalism as a concern but not as many environmentalists cite Bitcoin as a concern because if you sincerely care about the environment it is fairly obvious that Bitcoin is a footnote.<\/span><\/p>\n<p>\u00a0<\/p>\n<figure id=\"attachment_10521\" aria-describedby=\"caption-attachment-10521\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" loading=\"lazy\" class=\"size-large wp-image-10521\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/12\/Bitcoin-energy-usage-vs-other-countries-1024x668.jpg\" alt=\"Bitcoin energy usage vs other countries\" width=\"1024\" height=\"668\" \/><figcaption id=\"caption-attachment-10521\" class=\"wp-caption-text\">Image: CBECI https:\/\/ccaf.io\/cbeci\/index\/comparisons<\/figcaption><\/figure>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">Energy use can be surprising. Bitcoin uses more energy than Argentina but less energy than American Christmas lights. Neither comparison is especially useful  a better comparison would be to the energy use of the entire legacy financial system or <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitcoinmagazine.com\/culture\/the-hidden-costs-of-the-petrodollar\"><span style=\"font-weight: 400\">the environmental cost of the petrodollar<\/span><\/a><span style=\"font-weight: 400\">. In proper context Bitcoins energy use isnt so much large as it is easy to measure.<\/span><\/p>\n<p>\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">USD full node <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/4qs2bDVpMp\">pic.twitter.com\/4qs2bDVpMp<\/a><\/p>\n<p>\u2014 Gabor Gurbacs (@gaborgurbacs) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/gaborgurbacs\/status\/1398603005868613633?ref_src=twsrc%5Etfw\">May 29, 2021<\/a><\/p>\n<\/blockquote>\n<p>\u00a0<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoin_is_an_alternative_to_war\"><\/span><b>Bitcoin is an alternative to war<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">The history of warfare is a history of the defense and acquisition of wealth. If that wealth has a physical location it will require defending physical territory, which implicitly means violence. As wealth migrates to non-physical systems like Bitcoin, it can be defended by non-violent means (i.e. Bitcoin mining). The more wealth leaves physical goods the less wealth requires physical defense.<\/span><\/p>\n<p>\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Few understand\u2026<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/PEt8M1vRtz\">pic.twitter.com\/PEt8M1vRtz<\/a><\/p>\n<p>\u2014 Jason Lowery (@JasonPLowery) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JasonPLowery\/status\/1455217564641075207?ref_src=twsrc%5Etfw\">November 1, 2021<\/a><\/p>\n<\/blockquote>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">Bitcoin also makes it harder for governments to prolong a losing war by spending their citizens wealth by hyperinflating the currency. It is much easier to fund a war with the creation of new money than through direct taxation because people understand the impact of direct taxation more clearly. Thats why <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.britannica.com\/topic\/money\/The-decline-of-gold\"><span style=\"font-weight: 400\">most of the countries involved in World War I had to abandon the gold standard<\/span><\/a><span style=\"font-weight: 400\">. If the people understood how much money war cost them they would put a stop to it sooner.<\/span><\/p>\n<p><span style=\"font-weight: 400\">None of which is meant to imply that Bitcoin is the end of war  power plants and population centers will always need to be defended.<\/span><\/p>\n<blockquote class=\"pullquote align-center\"><p><span style=\"font-weight: 400\"> Governments will always find reasons to quarrel with their neighbors. But to the extent that Bitcoin gains traction it does meaningfully reduce the means and incentives for violent conflict.<\/span><\/p>\n<\/blockquote>\n<h3><span style=\"font-weight: 400\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-10522\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/12\/Bitcoin-vs-Cash.png\" alt=\"Bitcoin vs Cash\" width=\"694\" height=\"435\" \/><\/span><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"You_should_own_some_Bitcoin_either_way\"><\/span><b>You should own some Bitcoin either way<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">It is entirely possible that even having considered all the arguments above and in the first essay you remain unconvinced about the value of Bitcoin  <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.somethinginteresting.news\/p\/bitcoin-insurance\"><span style=\"font-weight: 400\">you should probably still own a little bitcoin either way<\/span><\/a><span style=\"font-weight: 400\">. Thats because if Bitcoin succeeds in becoming the best possible way to store value it will capture most of the value currently stored in other ways. Its not just that the price of Bitcoin will go up  it\u2019s also that the value of everything else will go down.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Thats why whether you like Bitcoin or not everyone needs to think about how they will protect themselves from the possibility that Bitcoin is real. Owning a small amount of bitcoin is one way to safeguard against that risk  and you probably need less than you think. If everyone in the world wants bitcoin there wont be very much to go around  owning 0.074 BTC (~$3,400 at time of writing) will likely be enough to put someone in the top 1% of Bitcoin wealth.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-10524\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/12\/You-should-probably-own-some-Bitcoin.png\" alt=\"You should probably own some Bitcoin\" width=\"554\" height=\"402\" \/><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400\">This estimate is based on current global wealth inequality. I also made a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/email.mg2.substack.com\/c\/eJwlkUlv3SAQgH-NudViM8YHDlWrXtKoUrpEPVkYBkyeDS7gNi-_vrw8aRbNphl9Y3QFn_JVHalUdDNzvR6gIvwrG9QKGZ0F8hysEqPEgklkFbdEDhKFMrsMsOuwqZpPQMe5bMHoGlK8DVA-EiHRqhh2E2Ytok5iYpeRDAumxEyLkW7h5r5XnzZANKDgL-RrioA2tdZ6lI597OiXJjaZ0vuU_Aa9SXvLlCODtmUFqOXW0JQ8_n5zb0-Cvf54Tk-T_Cr-XB6t-fZc1p_768OHT5mJ2blf3y3jrR1sqB1lPtiOfSZYcDkJzFFQtF1IKGVkxMOAe9rTCQttjRwMZqMUrk_Oa7qL0nG8e9qXcylVm8vtNJTVS4qtYFKIFTbwWR_re6VBmpvfzxjqdYaolw3snV-9f-Gd6OwhQm7fsbOuigiO6TiRYRJc3HE1wHwQwziOHLXVNrWpqC4xOHDBr_U_NuCc5A\">spreadsheet<\/a> where you can examine\/tweak assumptions for yourself.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Given that it takes such a small amount of bitcoin to hedge against a Bitcoin future owning no Bitcoin at all is actually an extremely confident stance. Being doubtful about Bitcoins chance of success is very reasonable but being 100% certain that it will fail is overconfident. <strong>Intelligent skeptics are skeptical of their skepticism.<\/strong><\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Keep_your_mind_open\"><\/span><b>Keep your mind open<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400\">Regardless of how you feel about Bitcoin I encourage you to stay curious. Ive been immersed in the space since 2014 and I am still learning new things and <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.somethinginteresting.news\/p\/hit-the-road-jack\"><span style=\"font-weight: 400\">changing my mind every day<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">If you want to read more Ive curated <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.somethinginteresting.news\/p\/the-bitcoin-reading-list\"><span style=\"font-weight: 400\">a reading list of pivotal essays<\/span><\/a><span style=\"font-weight: 400\"> that I think are worth your time. Consider also <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.somethinginteresting.news\/subscribe\"><span style=\"font-weight: 400\">subscribing<\/span><\/a><span style=\"font-weight: 400\"> to this <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter (Something Interesting)  I write ~2-3x a week about cryptocurrency news and topics and I try to answer all reader questions.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/magazine\/2021\/12\/28\/intro-bitcoin-change-your-life\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#A New Intro to Bitcoin: The 9 Minute Read That Could Change Your Life&#8221; &lt;p&gt;&lt;strong&gt;By now you\u2019ve probably heard of Bitcoin. You may have heard that it\u2019s made some people rich.&lt;\/strong&gt; You may also have heard that it\u2019s a new form of digital money, and that it\u2019s the future of commerce; or that it\u2019s a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":386810,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2021\/12\/New-Intro-to-Bitcoin-2022.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-386809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/386809","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=386809"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/386809\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/386810"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=386809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=386809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=386809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}