Bitcoin: A Peer-to-Peer Electronic Cash System
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network.
The Bitcoin network has been functional for 99.98% of the time since its inception on Jan 3 2009 02:54:25 GMT
The estimated number of exahashes per second the bitcoin network is performing in the last 24 hour
The market capitalization of Bitcoin currently sits at 170 billion U.S. dollars
The End of Money As We Know It
The End Of Money As We Know It traces the history of money from the bartering societies of the ancient world to the trading floors of Wall St. The documentary exposes the practices of central banks and the dubious financial actors who brought the world to its knees in the last crisis. It highlights the Government influence on the money creation process and how it causes inflation. Moreover, this film explains how most money we use today is created out of thin air by banks when they create debt.
“I also made the case for owning Bitcoin, the quintessence of scarcity premium. It is literally the only large tradeable asset in the world that has a known fixed maximum supply. By its design, the total quantity of Bitcoins (including those not yet mined) cannot exceed 21 million. Approximately 18.5 million Bitcoins have already been mined, leaving about 10% remaining. On May 12th Bitcoin’s mining reward –the pace at which the supply of Bitcoin is increased – will for the third time be “halved” (falling from 12.5 to 6.25 Bitcoins per block of transactions added to the blockchain). Future halvings will likewise occur approximately every four years consistent with Bitcoin’s design, thus continuing to slow the rate of supply increase and causing some to estimate that the last available Bitcoin will not be mined for another 100+ years. This brilliant feature of Bitcoin was designedby the anonymous creator of Bitcoin to protect its integrity by making it increasingly near and dear, a concept alien to the current thinking of central banks and governments.”
Paul Tudor Jones
CEO, Tudor Investment Corporation
“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 money.”
Bitcoin S2FX Model
Stock-to-Flow measures the Bitcoin price using two factors: the stock — the number of Bitcoins in circulation — and the flow, which is the number of new Bitcoins entering circulation. Bitcoin’s low emission rate relative to its existing supply – like gold – means Stock-to-Flow constitutes useful evidence in the argument that Bitcoin is “digital gold.”
Bitcoin allows everyone to be their own bank
“In 2016, president Barack Obama, while discussing cryptocurrencies, said something amazing. He said, ‘It would be as if everybody has a Swiss bank account in their pocket’ and little did he know that would be a fantastic advertisement for cryptocurrency.
Of course, Barack Obama is wrong. Crypto is not like having a Swiss bank account in your pocket – crypto is like having a Swiss bank in your pocket and you are the CEO. Because on your wallet you can create a million addresses and accounts on your little phone and you can institute international wire transfers.”