Since I came into Nostr I became a #bitcoin hater due to the amount of spam on this topic here.

But I was lucky enough to read "Grokking Bitcoin" from Kalle Rosenbaum.

It shows the Bitcoin algos from inside and now I understand why this is much better than fiat.

Basically in fiat world, people have their economic activity registered in accounting books run by banks and central banks. The problem is that the Accountant is free to fraud the book to give him undue points, which later they use to buy all assets in the economy.

This fraud is done at least at a 7% rate per year in some countries, and at a much higher rate in other countries.

In this analogy, Bitcoin is an accounting book that no one can tamper with.

#btc #bitcoin