The Bitcoin Guessing Standard - LewRockwell
The Bitcoin Guessing Standard Bitcoin is a software program designed by Satoshi Nakamoto (which is believed to be a pseudonym). His objective, at least on the surface, was to create electronic cash; a new hard money. This is why it is often referred to as digital gold. Satoshi Nakamoto, in his design of Bitcoin, was influenced by the prior work of Hal Finney. Critically, with regard to creating electronic tokens, Finney took seriously the cost theory of value. In turn, when Nakamoto wrote his white paper, regarding Bitcoin, he embraced Finney’s notion that processing power and electricity e...
Source: lewrockwell.com