Quote (Tyxo @ 28 Jan 2021 12:32)
Can someone pls explain to me
Wat is a bit coin
A buncha soduko puzzles solved by a computer.
Everything that isn't bitcoin has to prove it's worth like an energy-wasted stamp, proof of cash investment, or a community handshake by a hive of miners that the puzzle is solved.
Bitcoin is just the first and has nothing to prove, only puzzle.
It's value is in the technology, the networks, that enable these anonymous transfers of wealth.
I'd be willing to bet most bitcoin is spent on porn, drugs, guns and money laundering. Despite 100s of billions being tied up in all the crypto (bitcoin a fraction of that pie) very few coins besides bitcoin are in any kind of circulation.