4min chapter

The "What is Money?" Show cover image

How Bitcoin Will End Currency Counterfeiting with Michael Goldstein (WiM252)

The "What is Money?" Show

CHAPTER

Running a Full Node Is Better Engineered Money

running a full node allows a user to be their own bank so that no third party bank issuing notes is inherently necessary preventing any issue of counterfeit or double spending. With certain money substitutes users can have much higher expectations and more stringent demands of third party services with better tools to identify bad behavior in the market process. Every every lightning transaction is technically a valid bitcoin transaction that just hasn't been broadcast yet but it's backed by an actual bitcoin on the blockchain.

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