They called Bitcoin magic internet money. They were not wrong.Satoshi Nakamoto (not really)
Meant as an insult, adopted as a badge of honor. If the magic internet money has a trillion-dollar market cap, is it still just internet money?
Fiat Money & Money Printing
Fiat currency is government-issued money that isn't backed by a physical commodity like gold. Central banks can create new fiat money at will — a power used extensively during the 2008 financial crisis and the 2020 pandemic. Bitcoin was created as a direct response to this system: a form of money with a fixed supply that no central authority can inflate. The contrast between Bitcoin's hard cap and fiat's unlimited printing is central to its value proposition.
THE SATOSHI TAPES
If you liked this quote, you'll love hearing Satoshi's voice. 21 comedy podcast episodes of fake intercepted transmissions from the creator of Bitcoin.
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