Mastering Bitcoin

After years of innovative trial and error by many programmers, and through relying on a wide range of technologies, Bitcoin was the first engineering solution that allowed for digital payments without having to rely on a trusted third‐party intermediary. By being the first digital object that is verifiably scarce, Bitcoin is the first example of di

So Bitcoin has a huge advantage over gold in transactions: clearance does not require a specific custodian. No government can control what code you have in your head.

The essence of temporal salability is soundness; the essence of spatial salability is portability. Prior to Bitcoin, the two were in inescapable tension; economic development induces a market demand for money to be increasingly purely informational, as commerce itself becomes more complex than movement of specie can efficiently support. But informa