Hermann Troger
15 min readJun 23, 2020

--

BTC is a Beautycontest.

No competition. The more people find BTC beautiful, the more the price and the anonymity of the users increase.

I think it's nice that this free, decentralized, limitless, censorship-resistant, public account book (protocol) will change our lives from the ground up.

Bitcoin is a platform that guarantees certain trust functions carefree. We will therefore implement trust applications with benefits that would not have been possible in the copy network. BTC is the value internet on which the properties of gold and FIAT money come together to create the hard money so that digital trading can take place. Price signals will not be manipulated in the future because Bitcoin will be a fixed unit of measurement such as meters, kilograms, feet, liters, ...

Since it is limited to approx. 21 million, we will not see bank inflation in the BTC economic area, but rather price inflation. This idea is represented by the Austrian economists.

It is nice that the BTC has a time anchor. A new block, i.e. the clock of our life, which measures our life time, is displayed approximately every 10 minutes. This means that the most important unit of time is used to create order out of chaos. The ultimate currency lifetime is measured in the time chain and charged with energy.

Everything in the world needs energy. Energy is used to create benefits as well as related values. Bitcoin is like a battery that stores energy and expresses wealth in the price signal. POW creates a lottery (chaos)…

--

--