{"id":7972,"date":"2022-09-26T18:11:21","date_gmt":"2022-09-26T18:11:21","guid":{"rendered":"https:\/\/mdr.foobrdigital.com\/?p=7972"},"modified":"2022-09-26T18:11:21","modified_gmt":"2022-09-26T18:11:21","slug":"the-ultimate-sound-money","status":"publish","type":"post","link":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/2022\/09\/26\/the-ultimate-sound-money\/","title":{"rendered":"The ultimate sound money?"},"content":{"rendered":"\n<p>We\u2019ve just seen how, unlike fiat currencies, Bitcoin achieves reliable digital scarcity with no one in charge. Here\u2019s how it satisfies the remaining properties of sound money:<\/p>\n\n\n\n<ul><li>Durability: the architecture of the blockchain makes it incredibly robust. Since every node has a copy of the ledger, destroying the Bitcoin network would require that all\u00a050,000 nodes\u00a0distributed around the world (and above) would need to be destroyed at the same time, along with however many backups there are. That\u2019s very unlikely.<\/li><li>Divisibility: Bitcoin\u2019s smallest unit, called a Satoshi, is 1\/100,000,000 of one coin. In today\u2019s values, that\u2019s orders of magnitude more precise than even the smallest microtransactions would require. However, due to network fees, that level of precision isn\u2019t currently practical &#8211; we\u2019ll discuss this below..<\/li><li>Fungibility: all bitcoin are created equal and have equal value &#8211; just like one gram of gold is equal to any other gram of gold.<\/li><li>Portability: Bitcoin is entirely digital and incredibly portable. It can be stored on a computer, mobile phone, and on paper. It can be instantly transferred anywhere in the world with just an internet connection &#8211; and\u00a0even without one..<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>We\u2019ve just seen how, unlike fiat currencies, Bitcoin achieves reliable digital scarcity with no one in charge. Here\u2019s how it satisfies the remaining properties of sound money: Durability: the architecture of the blockchain makes it incredibly robust. Since every node has a copy of the ledger, destroying the Bitcoin network would require that all\u00a050,000 nodes\u00a0distributed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[421],"tags":[],"_links":{"self":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/7972"}],"collection":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/comments?post=7972"}],"version-history":[{"count":0,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/7972\/revisions"}],"wp:attachment":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/media?parent=7972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/categories?post=7972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/tags?post=7972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}