Bitcoin Magazine
You Cannot Stop Bitcoin Metaprotocols
Bitcoin is a database.
This is an inescapable technological reality. Money itself is simply a ledger, a record of who has what. Even physical cash is simply distributing that “database” in the real world. You no longer have to check against some central ledger to verify anything because the simple act of handing it to you is that process of verification. The “entries” in that ledger are passed around disconnected from some central record. Bitcoin is simply a digital database attempting to replicate the most important property of that physical one known as cash: not needing a database operator’s permission to spend your money.
Imagine the futility of trying to stop people from defacing dollar bills. How many of you have stamped “Buy Bitcoin” onto fiat currency? Defacing a banknote in the United States is a federal crime. You can spend 6 months in jail for it. Does that stop anyone?
Do you seriously t
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