Bitcoin How We Became Gods


    If Bitcoin were a mechanical watch, the fee market (not the free market) would be the mechanism making everything tick.

    This is where everything starts and ends.

    This is where censorship resistance comes from and where the precious resource of block space gets priced into energy consumption.

    The Bitcoin fee market is the first man-made free market that ever existed.

    In a free market:

    • No third party can intervene in pricing
    • No one can stop you from participating
    • Participation is voluntary

    Most markets that emerge naturally are actually free; it is the man-made ones that usually struggle with this property.



    Source link

    Previous articleFBI issues warning after man almost loses $9,999 to Bitcoin scam
    Next articleAiming High: How 2021’s Cryptocurrency Bull Run May be Even More Significant Than 2017’s