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204 - What is Bitcoin? with Robert Breedlove
Bankless
Understanding Bitcoin's Components and Contrasting with Fiat Currency
16min Snip
00:00
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This chapter delves into the different components of Bitcoin, such as proof of work, the 21 million unit limit, and the internet nativity. It contrasts Bitcoin's proof of work with fiat currency, emphasizing the problem of creating new units of money without expending energy. The chapter also explores the concept of inflation and the difference between Bitcoin and the US dollar.
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