“What this elaborate network makes possible though, for the first time in his- tory, is true scarcity for the digital world, fully autonomous ownership, and a permissionless global network for financial transactions. Because of its ingenious proof-of-work mechanism, bitcoin has been able to become a digital gold with an unprecedented robustness and openness: fourteen years of operation with an uptime of 99.988%, and anyone with access to an off-the- shelf phone and an internet connection can gain permissionless access to the network in minutes. This is why we call it the most disruptive technology since the invention of the internet.”
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