Why Bitcoin? E-Book

Tomer Strolight

• Herausgeber: Konsensus Network
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 79

Veröffentlichungsjahr: 2024

Beschreibung

The Bitcoin Journey: Essays for Curious Minds Are you curious about Bitcoin but overwhelmed by the jargon, technical complexity, or conflicting opinions? "The Bitcoin Journey" by Tomer Strolight is the guide you've been searching for—whether you're a newcomer eager to understand the basics or a seasoned Bitcoiner seeking fresh insights. In this collection of essays, Tomer fills a crucial gap in the Bitcoin literature: accessible, engaging, and thought-provoking content that explores the most misunderstood aspects of Bitcoin. Without needing a background in economics, computer science, or politics, readers will embark on a structured journey—beginning with the fundamental question: Why does Bitcoin exist? Through concise explanations, clever analogies, and a touch of humor, Tomer demystifies Bitcoin's intricacies, making them understandable and enjoyable. Each essay has been carefully organized and refined, transforming what was once a series of spontaneous online posts into a coherent, linear exploration of Bitcoin's essence, its global impact, and its personal significance. This book isn't just about Bitcoin; it's about the profound philosophical and ethical questions the technology raises. If you're looking for a beautifully crafted, thought-provoking introduction to Bitcoin that's as aesthetically delightful as it is intellectually engaging, this is the book for you. Discover Bitcoin's true potential—one insightful essay at a time.

Leseprobe

Why Bitcoin

Tomer Strolight

Why Bitcoin

© 2023

All Right Reserved.

Original cover design by Klaus Nordby

Typesetting and cover adaptation: Konsensus Network

ISBN 978-9916-697-94-8 Hardcover

978-9916-697-95-5 Paperback

978-9916-697-96-2 E-book

Preface

When I wrote these essays, they represented my debut into the Bitcoin content community. The entire collection was intended to fill a void. There were no short yet insightful reads about Bitcoin suited to both newcomers and experienced bitcoiners. I wanted to make some of the deepest and most important — but unexplained and poorly understood — aspects of Bitcoin accessible to all.

I sought to do this through short sentences, clever analogies, and a bit of whimsy, to keep it all in good fun — even though what I was discussing was very serious.

My goals were largely achieved. Many of these essays were shared widely on social media. The whole collection was turned into an ebook. Volunteers came forward to translate them into many languages. Guy “The Voice of Bitcoin” Swann, released them as an audiobook.

However, there was a weakness with the original collection. I initially published each essay as I wrote it — and I wrote them as they came to me. There was no rhyme or reason behind that order. I simply acted on my inspiration, not according to any plan.

This book remedies that. A book is linear. And its contents have a proper order. So creating this book required that I work out a logical order for the essays.

That is what I have done. The entire collection is now organized. For example, the online series ended with “Why Bitcoin Exists.” That is now the first — because it answers the most basic question anyone should have about Bitcoin: “Why does this thing even exist?”

I am delighted with how it turned out. This book takes readers on a journey of what Bitcoin is, how it works, its impact on the world, and the personal impact Bitcoin will have on them. It does so without requiring knowledge of economics, math, politics, or computer science. Yet I have not shied away from tackling these areas — nor from topics like ethics and self-actualization.

In creating a physical book, for its debut, I also wanted it to be one that people displayed, read, and shared. I wanted it to be esthetically delightful in ways not possible in blogs.

To that end, I drafted my dear friend and gifted artist, Klaus Nordby, to design the book. He is uncompromising in making readable material beautiful. That coffee table version, filled with photos and color on every page, can be ordered via print on demand, in both softcover and hardcover, at blurb.com/user/TomerStrolig.

Klaus also acted as my editor. He ensured that each piece was intellectually precise and honest. We wrestled over the choice of crucial words. We worked together to find solutions for every challenge we discovered. It was an amazing creative experience for us both, which we both enjoyed and learned from. The original coffee table book also featured an original artwork by the artist known as Chiefmonkey, who created it as a laser-cut sculpture titled “SHAmanic Universal Consciousness” and auctioned it for sale at Bitcoin Miami. Portions of it are reproduced in chapter breaks here.

I want to pay thanks to Cory Klippsten and the whole team at Swan Bitcoin. Cory reached out to me when I was just starting the series and encouraged me to turn it into an ebook — which Swan promoted. They also provided financial support for the original print edition.

Finally, thanks to Niko Laamanen and everyone at Konsensus Network for their support and efforts in making this edition possible. Their efforts will ensure its contents are explored and evaluated by many inquisitive minds.

I dedicate this edition to everyone curious enough about Bitcoin to direct their time and energy to understanding it. It is an unexpected and unpredictable journey, about so much more than money. Hopefully this book can help those on this journey sort out some things along their way.

Tomer Strolight

February 25, 2023

Why Bitcoin Exists

What is the Purpose of Bitcoin?

Why did anyone bother to create bitcoin? What problems were they trying to solve? If you are new to the whole idea of a digital asset involving the mysterious field of cryptography, these are some questions that probably come to your mind.

Before you get caught up in asking if you can “get rich quick” from bitcoin, you should be asking if it has a deeper purpose. Bitcoin was created to serve a very specific purpose. If it did not serve that purpose, it would not be worth anything. Fortunately, it does. And, it was carefully and meticulously engineered to serve it precisely.

Bitcoin’s purpose is to provide reliable money that will serve all mankind — forever. That is a pretty lofty goal: serving all of mankind, forever!

Was There Even a Problem in the First Place?

Is our money unreliable? Does it really fail to serve all mankind? Are its days numbered? The sad fact is that the answer to all these questions is, “Yes!”

First, our money is unreliable: it loses its purchasing power through inflation. We also experience volatile economic cycles that destroy capital, jobs, wealth, and stability.

Next, our money does not serve all mankind — many middlemen charge excessive fees to store and send our money. It is expensive to use internationally since converting it to other currencies is costly. Many people in the world lack any access to reliable banking. Our money system serves elites far better than it serves ordinary people.

Finally, our money system is doomed to collapse. Currencies world-wide are rapidly losing purchasing power. In fact, throughout history, paper money decreed into existence by governments has failed every time that it has been implemented.

And sadly, we cannot turn back the clock and go back to a time when gold was money. Gold is simply not secure from seizure, and it is far too slow, difficult and expensive to transport in a global economy.

Bitcoin Fixes This

Bitcoin was created through an ingenious and unprecedented combination of technologies. It provides, for the first time ever, money that is reliable, that serves all mankind, and that will last forever.

Nothing like this has ever existed before. Bitcoin is free from inflation — its supply will never exceed 21 million coins. Each coin is divisible into 100 million units called satoshis. These will be issued on a fixed, unalterable schedule — taking over 100 years.

Bitcoin is for all mankind — there are no elites who can manipulate it. Unlike the currencies of our present money, nobody can create bitcoins effortlessly for themselves. Nobody can be prevented from using bitcoin — it will not allow anybody to stop someone else from using it. Finally, bitcoin is forever — its operation depends solely on the laws of physics and mathematics, and these laws will stay in effect — unaltered — for as long as the Universe exists.

Bitcoin was not created so that some people could “get rich quick”. It was created to preserve the integrity of money — to make the most of your precious time, your energy, and your life.

With bitcoin you can keep what you have earned — and use it however, whenever, and wherever you desire. To you, bitcoin is reliable money that can serve you for the rest of your life — and it offers you an escape from being the victim of an unjust, broken, dying, and failing monetary system.

Why Bitcoin is Unlike Anything You Have Ever Seen

Nothing like bitcoin has ever existed. Bitcoin is so different from anything ever seen before that it is necessary to begin our journey by describing what it is not.

Bitcoin is Unique

Bitcoin has no leaders, no employees, no headquarters, no offices, no government, no elections, no location, no property, no assets — and no money. It is not even incorporated or legally constituted in any place on Earth.

Bitcoin sees all of these things not only as unnecessary, but actually as undesirable. This is because bitcoin views all of these things not as strengths — but as vulnerabilities.

Bitcoin deals with such vulnerabilities in an elegant manner — simply by eliminating them. Were any of these features to be in bitcoin they would inevitably lead to the problems we see in all other institutions — such as being taken over, becoming corrupted, or being destroyed.

By removing these, bitcoin becomes uncontrollable, incorruptible, unstoppable — and indestructible. The elimination of these and all other vulnerabilities makes bitcoin invulnerable. All of these intentional omissions are the genius in its design which make bitcoin so indispensable and invaluable.

Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.

– Antoine de Saint Exupery

Even More Things Bitcoin Does Not Do

Bitcoin does not keep track of the identities of the people or machines that use it — making it private. Bitcoin does not force itself on anyone — making it entirely consensual. Bitcoin does not exclude anyone from using it — making it universally inclusive. Bitcoin does not increase the supply of currency to meet rising demand — making it extremely precious.

Bitcoin is unlike anything you have ever seen. It needs to be, so it can provide humanity with the most perfect money that we will ever see.