Newsletter #019
7 June 2022
What is Bitcoin?

A friend asked me: What is Bitcoin?

I think she was expecting a long answer. Every explanation of Bitcoin I’ve ever heard has gone deep into cryptography, blockchain, mining and Satoshi Nakamoto, the cryptocurrency’s semi-mythical creator.

Instead, I gave my friend a short answer.

What is Bitcoin?

It’s money.

It’s just that, unlike the dollars we’re more familiar with, it’s not issued by a government.

It’s issued by an algorithm.

That’s it.

Well, I do have a little more to say in today’s article.

I don’t go into cryptography, blockchain, mining or Satoshi Nakamoto, but I do go a little deeper into what it means that Bitcoin is money that’s issued by an algorithm, not a government.

Thanks for following along!

Mark

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