#TheBitcoinStandard Wisdom of the day, day 64:

“Bitcoin can be best understood as distributed software that allows for transfer of value using a currency protected from unexpected inflation without relying on trusted third parties. In other words, bitcoin automates the functions of a modern central bank and makes them predictable and virtually immutable by programming them into code decentralized among thousands of network members, none of whom can alter the code without the consent of the rest. This makes bitcoin the first demonstrably reliable operational example of digital cash and digital hard cash.”

Prologue Pg. XV @saifedean ‘The Bitcoin Standard’

#Bitcoin