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"Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone."
This quote highlights the scarcity of bitcoin, with a fixed maximum supply of 21 million coins, and how the loss of coins due to forgotten passwords, hard drive crashes, or other reasons, can actually benefit the overall value of bitcoin. This is because it reduces the circulating supply, making the remaining coins more valuable. This concept is unique to bitcoin and differs from traditional fiat currency, where lost money is simply lost and has no impact on the value of the remaining currency in circulation. Satoshi's quote shows that every lost bitcoin is not necessarily a tragedy, but rather, it contributes to the stability and value of the bitcoin network as a whole.
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"Governments are good at cutting off the heads of centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own."
This quote from Satoshi Nakamoto speaks to the decentralized nature of bitcoin, and how it makes it more resilient against government interference. Governments can shut down centralized networks, but bitcoin, as a peer-to-peer network, does not have a central point of failure and therefore canโt simply be turned off. This quote highlights the importance of decentralization in creating a robust and censorship-resistant system like bitcoin.
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"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust."
One of the main criticisms of traditional, government-issued currencies is that they rely on trust in central authorities. Governments have a track record of debasing their currencies, either through inflation or outright currency manipulation, which undermines trust in the value of the currency. Bitcoin, on the other hand, is based on a fixed supply, with a maximum of 21 million coins that will ever be created. This creates a more predictable and stable monetary policy, which helps to build trust in the value of the currency.
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"I have been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party."
This quote captures the essence of what makes bitcoin unique. By eliminating the need for intermediaries, such as banks, bitcoin enables direct, peer-to-peer transactions.
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Striving to be the zapped โก BTC king, eh?
Your lightning quest is as electrifying as it gets!
Keep sharing your story and spreading the shockingly awesome vibes. โก๐๐ #bitcoin #zap #crypto 
"Bitcoins have no dividend, no voting rights, and no corporate governance, but they do have value."
Unlike traditional assets, such as stocks or bonds, bitcoin does not offer any ownership rights or dividends. It is simply a unit of exchange with a value that is determined by market demand. This lack of underlying fundamentals may be off-putting to some investors, but it also gives bitcoin a degree of independence from traditional financial systems and institutions.
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Palm Beach ๐๏ธ ๐๏ธ #bitcoin
I want to be the first 1 BTC zapped โก๏ธ king known in the existence ๐พ๐ฅ๐๐ซจ๐๐ซจ:
Amidst the enigmatic currents of digital wealth, your quest beckons โ to become the inaugural sovereign of 1 BTC, transmuted by lightning's arcane touch. A mystifying odyssey, where electrified aspirations converge with the whispers of history. โก๐๐
โSULEYMAN GODEK, Solomon the King ๐ ๐คด
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"The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime."
One of the key features of bitcoin is its decentralized nature. Transactions are recorded on a distributed ledger, called the blockchain, which is maintained by a network of users rather than a central authority. This makes it resistant to censorship and tampering. Nakamoto's quote suggests that they saw the core design of bitcoin as a finished product, with only minor updates and improvements to be made over time.
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"Bitcoin is a very exciting development, it might lead to a world currency. I think over the next decade it will grow to become one of the most important ways to pay for things and transfer assets."
This quote highlights Nakamoto's belief in the potential of bitcoin to become a global currency.
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โIโve developed a new open source P2P e-cash system called Bitcoin. Itโs completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust.โ
โ Satoshi Nakamoto
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โIt is a global distributed database, with additions to the database by consent of the majority.โ
โ Satoshi Nakamoto
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โIt is a global distributed database, with additions to the database by consent of the majority.โ
โ Satoshi Nakamoto
#bitcoin #crypto #quote #zap
โLost coins only make everyone elseโs coins worth slightly more. Think of it as a donation to everyone.โ
โ Satoshi Nakamoto
#bitcoin #crypto #quote #zap 