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> Explain to me how bitcoin is literally debt? Bitcoin is a literally a distributed ledger, so it's very much debt. Gold and silver aren't strictly debt becau
by Aunche 4y ago
> Explain to me how bitcoin is literally debt?
Bitcoin is a literally a distributed ledger, so it's very much debt.
Gold and silver aren't strictly debt because they also happen to be commodities that were used for their aesthetic properties. However, it's use as money is a system of keeping track of credits and debts.
- AnimalMuppet 4y agoLedgers can hold assets, not just debts. And not all ledgers have to sum to zero. So unless you can explain something more specific about bitcoin as a ledger, the "ledger" argument fails. And, can you explain, if a bitcoin is debt, to whom is the debt owed?