4 ms·
I think the real value in Bitcoin is its immutability. I don't think there's any piece of information in the world as immutable as the first bitcoin block mined
by madacol 6y ago
I think the real value in Bitcoin is its immutability. I don't think there's any piece of information in the world as immutable as the first bitcoin block mined by satoshi.
This property is what powers amazing projects like OpenTimeStamps (https://opentimestamps.org/ https://opentimestamps.org/), this will become an essential tool for notaries all around the world, seriously!, and this has nothing to do with number of transactions, this scales to O(1) (you only need one transaction to prove as many things as there needs to be proved). Previous to bitcoin existence I don't think there was ever a distributed way of proving a piece of information existed previous to X, and even if there was, it was probably centralized or much much MUCH weaker than bitcoin. There's just no replacement, not even a million years as effective as bitcoin is for this, if I'm wrong please tell me! I want to know!
Most people here in favor of bitcoin argue about inflation, I understand the reasoning, and I'm from Venezuela, I pretty sure understand that value, but that's just missing the point, immutability >>> inflation protection.
And if we go to the smart-contracts terrain, that's a whole other world of very diverse and unexplored possibilities of values