Skip to content

The Top 5 Bitcoin Analogies

1) Bitcoin is the lightbulb, the blockchain is the electrical grid. The lightbulb is the on loading mechanism, but there will be many more applications built on the grid.

2) Explaining Bitcoin to a bank feels like explaining what is to Barnes and Nobles and what Netflix is to Blockbuster.

3) 21 million coins for 5 billion people connected to the internet, this is a relatively scarce amount for a transfer of ownership. Imagine if there were only 21 million paper checks in the world, how much would one check be worth?

4) Is the Internet like e-mail, TV, or communication network; is Bitcoin a like a stock, a currency, a commodity, or a payment network? the answer to both is all of the above.

5) Bitcoin is just the first application and first namespace for a transfer of ownership over the blockchain protocol. The transfer of any digital scarce asset will be possible with this technology. “Bitcoin is many layers of an onion. Peel back one layer, and a new and amazing layer awaits underneath to discover.”


3 replies »

  1. hi!,I love your writing veryy much! proportion we be in contact more about your post on AOL?
    I need an expert in this space to solve my problem. May be that is you!
    Taking a look forward tto peer you.

  2. Pingback: 2015 | Dom Steil

Leave a Reply

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 1,720 other subscribers

  • 91,137 hits


Bitcoin Address


%d bloggers like this: