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What Makes The Bitcoin Network So Special
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In this video, I discuss what makes the Bitcoin network so special, by comparing it to the US dollar network. Both are monetary networks with nodes that communicate with each other.
However, the US dollar network is highly politicized and permissioned. You need special permission to move money on this network, or to become a node on this network.
By contrast, the Bitcoin network is permission-less and open to anyone. You do not need permission, or a license, or a special degree to mine Bitcoin, validate transactions as a full node, or send or receive money on the network. The Bitcoin network is open to all tribes and races and people of all political persuasions. It is a truly neutral network and asset.
It is also the only open monetary network that is truly decentralized, secure, and not operated by insiders like venture capitalists or founders.
Bitcoin the network is completely open, and the monetary asset that moves on this network freely cannot be debased or confiscated.
There's only one Bitcoin. Accept no substitutes.
Not investment advice! Consult a financial advisor.
Image of network and nodes:
https://www.researchgate.net/publication/327030354/figure/fig1/AS:659753487306752@1534308897173/A-12-node-network-as-an-example-to-show-the-division-of-nodes-based-on-faction.png
Federal Reserve members:
https://www.bankrate.com/2020/11/12170407/The-Federal-Reserve_InLine-2.jpg
Insider trading scandal at the Fed:
https://www.politico.com/news/2022/01/10/federal-reserve-vice-chair-resigns-ethics-scandal-526849
https://news.yahoo.com/a-timeline-of-the-federal-reserves-trading-scandal-104415556.html
ECB head is corrupt as well:
https://www.bbc.com/news/world-europe-38369822
US freezes Russian central bank assets:
https://www.nytimes.com/2022/02/28/us/politics/us-sanctions-russia-central-bank.html
Iran and frozen US dollars:
https://www.wsj.com/articles/inside-the-37-year-standoff-over-irans-frozen-u-s-dollars-1482956855
US government can freeze your bank account too:
https://btlaw.com/insights/blogs/the-government-has-frozen-my-bank-accounts-what-do-i-do-now-analyzing-asset-forfeiture-after
Operation Choke Point:
https://en.wikipedia.org/wiki/Operation_Choke_Point
FedWire:
https://en.wikipedia.org/wiki/Fedwire
Ethereum on AWS:
https://aws.amazon.com/blockchain/
DAO hack and transaction rollback:
https://www.gemini.com/cryptopedia/the-dao-hack-makerdao
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I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#bitcoin
#usdollar
#fed
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