What’s up, guys? This is Tai Zen in with a PrisonOrFreedom.com in this short video. I want to give an analogy and explain why Bitcoin is so difficult for many people to understand especially if it’s someone that lives in a third world.
First world countries such as America or in the in the countries where the currency is very strong such as the pound, the British pound or the US dollar or the Yen or anything like that. Thus, it’s very difficult for people to understand the benefits in the value of Bitcoin.
The confusion in Bitcoin comes from the fact that it is made up of several components and these components all have the same name. I like to think of Bitcoin as the highway or the interstate system of a country.
So when you hear about all these miners on the people that are out there using their computers to the process of the Bitcoin transaction and being rewarded for taking the time and the effort to process the transaction.
The first component of Bitcoin is that all this computer hardware that’s currently processing the Bitcoin transactions. Imagine that as the highway or the road in your country!
Then the second component of Bitcoin is the rules that govern how a pedestrian or a vehicle should traverse or commute on that highway or that road. ;
The third component of Bitcoin is that I want you to imagine that the vehicles that are travelling on this highway are also called Bitcoin, in the highway we called vehicle but in the Bitcoin network, it’s also called Bitcoin and then the poor thing is that I want you to imagine all the businesses that are built on the side of these highways such as gas station businesses, market, 7-Eleven, convenience stores, things like that are also the same thing in the Bitcoin world.
So Bitcoin is not just the actual highway or the network, Bitcoin is also the rules that govern how the highway needs to be traveled by pedestrians and vehicles and users. And then Bitcoin is also the the vehicle that actually travels on that network.
And then fourth, it’s also the businesses. The businesses in the Bitcoin world would be the different layers that they are going to put on top of the Bitcoin protocol. Once it’s a stabilizer.
So because of that, it creates a lot of confusion because if I told you that the highway in your country was called a vehicle and then these laws and the rules that govern how someone should travel through highway is also called a vehicle.
Then the vehicle that actually travels on that highway is called a vehicle, and the business lined up on each side of the road or the highway also called a vehicle, then it creates a lot of confusion in most people’s mind.
And this is one of the reasons why Bitcoin is so confusing to a lot of people because it’s not just a currency or the vehicle that travels through the Bitcoin network, but it is also the roads and highways the rules that govern that road in that highway and it’s also the business that we can be built on top of that Highway as well.
So I hope that this analogy that I used between Bitcoin and the highways and the roads in your country can help you better understand. So when you hear about the price of Bitcoin going up or going down every day in the market, just be aware of that.
That’s like saying the price of your vehicle is going up or going down in your country. And then the highway is still there in the rules that govern how someone is allowed to travel through that highway is also there.
That’s why I say that Bitcoin will not go away. It has been invented by Satoshi Nakamoto the creator of Bitcoin and the protocol the rules and the highway is there. Right now, everyone is just using the the the highway in the rules that govern how it works and using it as a currency.
So in the media in the news, everybody talks about Bitcoin as if it’s just a currency like the US dollar or like the Japanese Yen or like the British pound but it is much more than that.
When you look at a highway system. There’s also the rules that govern how the highway is to be used and there’s also the actual concrete highway or the paved highway or the dirt or the stone highway itself. So that’s what Bitcoin is.
And I hope that this short video was able to help you explain in a different way that will make it easy for new users of Bitcoin understand what Bitcoin is with a network is and what the rules in in in in in in in the regulations that govern how that work easier to understand.
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