Hey everyone, hope you’re having a great May. It’s been an eventful week at 48hr.com and I wanted to bring some attention to it through this newsletter. Beginning with a commitment to make this newsletter a daily occurrence, after 7 months of pausing to focus on deploying 48hr.com, it’s time to bring it back.
Bitcoin’s computational network is incredibly strong, it has no shortcuts to complete the necessary work to verify transactions through a mechanism called proof-of-work. This creates an irrefutable history of transactions that tells requires consensus with the previous transaction history, or ledger, for there to be a consensus of validity.
However technical this sounds, it reveals one thing. Truth.
The amount of work itself is the solution to a problem that has plagued human history for millennia. Banks have fractional reserve banking, it allows them to take on risk without suffering the consequences. States use inflation do devalue the money in your pocket to pay for whatever they deem to be necessary, it’s not a market driven demand. Bitcoin destroys the fiat standard by remaining true to it’s supply of 21 million and consuming real energy that makes it’s processes absolutely essential