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The apple left my possession completely. You have full control over that apple now. You can give it to your friend if you want, and then that friend can give it to his friend. Think explain bitcoin like im 5 it for a second. Or your friend Bob? Or my friend Tommy too? Maybe I made a couple of copies of that digital apple on my computer.

Maybe I put it up on the internet and one million people downloaded it. As you see, this digital exchange is a bit of a problem. Some brainy computer scientists actually have a name for this problem: Say, just like World of Warcraft. So, cool, someone like them could keep track of our digital apples.

Awesome — we solved it! He could just add a couple of digital apples to his balance whenever he wants! It was just you and me then. How can I just hand over my digital apple to you, like, you know— the usual way? Seems kind of tough…. All the transactions that have ever happened, from all time, in digital apples will be recorded in it. Especially if it got really big. You could participate in this network too and update the ledger and make sure explain bitcoin like im 5 all checks explain bitcoin like im 5.

The total number of apples was defined in the public ledger at the beginning. I know the exact amount that exists. I used to not be able to say that about digital explain bitcoin like im 5. It will be updated and verified by the public ledger. Maybe I can attach some text on it — a digital note. Or maybe I can attach more important things; like say a contract, or a stock certificate, or an ID card….

So this is great! Well, a lot of people are arguing over it now. Some people are smart. Some guy actually put a hard number: But kid, you now know more about Bitcoin than most people do. Time to stock up on dem apples! I have one apple with me.

I give it to you. You now have one apple and I have zero. That was simple, right? My apple was physically put into your hand. You know it happened. Now it gets interesting. So, explain bitcoin like im 5 you see what happened? What does the public ledger enable? Or maybe I can attach more important things; like say a contract, or a stock certificate, or an ID card… So this is great!

We have our own opinion about it.

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I have one apple with me. I give it to you. You now have one apple and I have zero. That was simple, right? My apple was physically put into your hand. You know it happened. The apple left my possession completely. You have full control over that apple now. You can give it to your friend if you want, and then that friend can give it to his friend.

Now say, I have one digital apple. Now it gets interesting. The apple is digital and we can just double the ledgers and the one apple I give you is now two apples! That is more Apples to eat, they are delicious, and you have twice as many Apples using Bitcoin. That is about all you need to know, that and Whales love double the Apples. That was tasty, why not do it again, we did it once, so now you get four Apples using Bitcoin, or, you get four Bitcoins for one, and we can just keep splitting the ledgers until we can feed the entire world with a single apple, that is the magic of Bitcoin!

I simplified quite a bit. Join us in Discord. So are you saying that one of the great advantages of BTC over fiat currencies, namely that it is limited to 21 million and so immune from debasement, is BS?

Authors get paid when people like you upvote their post. I was attracted to Bitcoin because it was meant to be finite. Human stupidity is infinite, along with the supply of wandering monsters!

Bitcoin is not infinite. Upvoting this comment will help support minnowsupport. Thanks, I did upvote If this is the case, I wonder what Satoshi Nakamoto would think. Thanks for the post. Serious food for thought.