Skip to content
remjx

Bitcoin is more than digital gold

Bitcoin1 min read

Thinking of Bitcoin as digital gold is like putting a lion in a cage.

Bitcoin is a token that is used to post timestamped data on a secure public ledger.

In Bitcoin's proof-of-work system, miners expend energy in order to earn Bitcoin tokens. For a small fee denominated in Bitcoin, miners will include your transactions in the next block.

Unlike gold, virtually any type of data can be embedded within a Bitcoin transaction. Bitcoin SV (BSV) platforms like Run and Tokenized enable apps, tokens, and smart contracts to run on Bitcoin. Vapor is a protocol that wraps http requests and responses in Bitcoin transactions. These examples are just to spark your imagination. The possibilities are endless.

Bitcoin is only as valuable as the data transacted on it.

Restricting the block size means restricting how many valuable transactions can be made.


Did you enjoy this post?

Sign up for my newsletter

© 2021 remjx. All rights reserved.