Bitcoin.txt

in the arms race


Bitcoin is a web commodity, an economic system and an address space tied to a supply-capped token. In order to use bitcoin, you must own bitcoin.

 

Why would you want to use bitcoin?

 

Because you want to append transactions and data to the ledger.

 

Why would you want to do that?

 

Because everything you put on the ledger can either be monetized or secured in perpetuity once you have.


the meta-ponzi

 

Bitcoin is an incredibly powerful and novel system which has spawned thousands of pyramid schemes and shameless money-grabs. This is an overlooked feature of the system. There will always be scammers, because scammers understand memetics, and memetics are what give ideas a life of their own.