Author: Mike Hearn 2014-04-24 15:45:36
Published on: 2014-04-24T15:45:36+00:00
Bitcoin's relevance and importance should not be compared to a theoretical perfect peer-to-peer system, as its competition lies in traditional bank notes and credit cards. The statement suggests that while Bitcoin may not be the ideal instant peer-to-peer serialization mechanism, it still holds value and relevance in the current financial landscape. It is important to note that Bitcoin faces challenges in terms of proof of work, but this does not diminish its significance. The comparison highlights the need to view Bitcoin in its own context rather than trying to measure it against hypothetical ideals.
Updated on: 2023-06-08T21:11:32.670732+00:00