Rex Nichols on Clubhouse
Updated: Sep 27, 2023
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Bitcoin Compared to Fiat:
Fiat Money — Fiat money is government money. Fiat money is governed by rules made by governments and central banks. The rules can change at any moment and favor the rich at the expense of the poor. The rules are imposed upon you at birth and enforced by government agents with guns.
Bitcoin — Bitcoin is peoples’s money. Satoshi Nakamoto and other cypherpunks created a new money with fair and voluntary rules. To use bitcoin you choose to follow the rules set forth in the bitcoin protocol. When you run a bitcoin node, you verify the rules have been followed the person you are transacting with. No need for government enforcement.
