The Tokenomist℠
What is Bitcoin? Is it a file that sits on a computer. Can it be copied like a .jpeg Is it a coin or a token? Wasn't Bitcoin supposed to be treated as peer-to-peer cash? Electronic cash?? Give me a break. Explain this to me in layman's terms!
The name Bitcoin is arbitrary. ....is a token. ..may be a key or coin. intangible may possess physical properties like smart cash that transfer value much like a credit card. smart cash will get smarter and cheaper to make. physical coins will not be minted using metal alloys instead a small pocket change balance is transfered from a reserve account to offset the difference when paying for goods and services so if sally goes to the supermarket and pays with one denomination a fractorial account unit is deposited into her main account which keeps a reserve balance to keep monetary denominations equal but differentiate between every point of sale terminal. virtual change will be a thing in a post-covid world
" Bitc oin is not backed up by anything! It's going to zero." Let me explain the big misconception on whether Bitcoin holds any value.
