On this occassion of Dhanteras ( Kicking off the Indian Festival Season ) Dhanteras also resonates with " Money ", " Value " & " Assets ".
Indians across the globe use this occassion of Dhanteras to purchase something we consider of value like Buying a new home or a new Car. Gold sales is at its peak on this very day and its considered an Auspicious day to start off a new Life.
On this point i would like to speak about " Money " in my post today. What is Money ? " Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. - Wikipedia "
4 Characteristics of Money
The four primary characteristics of money are: (1) durability, (2) divisibility, (3) transportability, and (4) noncounterfeitability.
What is #Bitcoin : Bitcoin is a
- verifiable Public Ledger
- Divisible by 100 million fractions ( Called Satoshis )
- Transportable to any part of the world with a click of a button
- Non Counterfeitable - Owing to the decentralised consensus mechanism
- Scarce - Only 21 Million Bitcoins will ever exist
We are only awaiting mass adoption by citizens, governments and Institutions. Which we have witnessed in the last few years is changing as well very Rapidly we now have Publicly listed companies. Pension Funds, Countries accepting Bitcoin as asset and even as legal tender.
Bitcoin is global and universal and not governed by any single country or government or corporations. In my opinion this is a true revolution in creating a more open , fair and inclusive economy.