Because you believe money is real, you don’t understand Bitcoin

7 min readSep 3, 2021

The US dollar is merely a mirage that is widely and vehemently believed.

Bitcoin is an illusion

So one hears, Bitcoin is a mirage, a collective hallucination. In cyberspace, it’s just statistics, a phantasm as flimsy as a soap bubble. Bitcoin is only backed by the trust of the fools who buy it, as well as the greater fools who buy it from the weaker fools. Also, did you know? That’s all right. All of this is correct.
What may be more difficult to realize is that US currencies are also a deception. They, too, are primarily made up of numbers in cyberspace.

They’re sometimes kept in paper or coins, but while the paper and coins are tangible, the dollars they represent aren’t. The trust of the fools who accept it as payment and of other fools who agree to accept it as payment from them is the only thing backing US dollars. The fundamental difference is that, at least for the time being, the illusion of money is more widely and vehemently believed.

Your money is toilet paper

In fact, nearly all of our US dollars (about 90%) are totally abstract — they don’t exist in any physical form.

“Only approximately 10% of the US money supply —…




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