1/ Everyone knows that time is money. In the digital realm, however, money is also intricately related to time. It has to

2/ Among other things, money solves a coordination problem. Trading a single good against others solves the combinatorial explosion of a barter economy. It is a scalability solution that allows coordination across large groups of people.
3/ The two basic forms of money are ledgers (made of information) and physical tokens (made of atoms). Physical tokens keep track of themselves. Ledgers need someone who is in charge.
4/ In the informational realm, only ledgers exist. And to make sure that transactions on a ledger are in order, a concept of time is required. In other words: Tokens are timeless, ledgers are not.
5/ A decentralized system can't rely on our human concept of time. A trustless, non-local time is required. Trustless, because we must not introduce a third party. Non-local because we don't have the luxury of a central frame of reference.
6/ Bitcoin creates its own sense of time using two essential building blocks: causality and unpredictability. Causal links are settling the past. Unpredictable events are opening the doors to the future. The chain tip is the eternal now.
7/ Bitcoin uses SHA-256 and digital signatures as its causal building blocks and the ever-changing interactions of its peers, as well as the randomness of PoW as its source of entropy.
8/ This intricate dance of coordination creates a moment in time that every node can verify for itself. It can trust, with a very high probability, that this is what actually happened in the past.
9/ The difficulty adjustment makes sure that Bitcoin's time and our time stay in sync. It is the probabilistic metronome that orchestrates the intricate dance of the network.
10/ By creating a novel definition of time, Satoshi managed to solve an otherwise intractable coordination problem in our relativistic universe: agreeing on the order of things on a global scale.
11/ I hope you have enjoyed this time-centered view on Bitcoin. The next time someone asks what Bitcoin is, simply answer: "It is time."
12/ Thanks to everyone who helped with this piece: @Croesus_BTC, @FriarHass, @CitizenBitcoin, @skwp, @joernroeder, @SwanBitcoin - and thanks to all my supporters. I wouldn't be able to do this without you.
13/ "Bitcoin Is Time" is one chapter of my upcoming book, 21 Ways. You can support me and follow along here:

https://t.co/NjCREIXoWx

More from Bitcoin

1/ If, like me, you've been looking at #Bitcoin over the last few years with interest, but you have never really decided which side of the fence you sit on, this thread might be good for you.

This isn't another opinion piece on #Bitcoin , in-fact, it's exactly the opposite. 👇🏼

This thread is a list of resources I have found to be useful and insightful when it comes to understanding the pros and cons of #Bitcoin .

Below, you'll find knowledgeable people 👩🏽‍💻, articles/essays 📝, podcasts 🎧 and videos 📹 about #Bitcoin . Enjoy!

/2 People 👩🏽‍💻

These individuals are valuable to listen to, whilst they are bullish, they justify their stance:

@RaoulGMI
@michael_saylor
@DTAPCAP
@APompliano
@VentureCoinist
@AlexSaundersAU
@danheld
@aantonop
@jchervinsky
@real_vijay
@lawmaster
@LynAldenContact

/3 Resources 🏢

A video library of interviews from various Bitcoin enthusiasts. 👇🏼

https://t.co/CJJvHavSOn

A great guide for new investors to Bitcoin. 👇🏼

https://t.co/fOoSfTlWr5

A portal for people to go from zero knowledge to intermediate level.

/4 Tweet threads 🐦

A great thread on rebuttals from common #Bitcoin queries/criticisms. 👇🏼

https://t.co/tPEpFMMPhH

Why companies are starting to put BTC on the balance sheet. 👇🏼

https://t.co/lL71M1A3NF

“A double-spend broke Bitcoin" debunked.

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राम-रावण युद्ध समाप्त हो चुका था। जगत को त्रास देने वाला रावण अपने कुटुम्ब सहित नष्ट हो चुका था।श्रीराम का राज्याभिषेक हुआ और अयोध्या नरेश श्री राम के नेतृत्व में चारों दिशाओं में शन्ति थी।
अंगद को विदा करते समय राम रो पड़े थे ।हनुमान को विदा करने की शक्ति तो राम में थी ही नहीं ।


माता सीता भी हनुमान को पुत्रवत मानती थी। अत: हनुमान अयोध्या में ही रह गए ।राम दिनभर दरबार में, शासन व्यवस्था में व्यस्त रहते थे। संध्या को जब शासकीय कार्यों में छूट मिलती तो गुरु और माताओं का कुशल-मंगल पूछ अपने कक्ष में जाते थे। परंतु हनुमान जी हमेशा उनके पीछे-पीछे ही रहते थे ।


उनकी उपस्थिति में ही सारा परिवार बहुत देर तक जी भर बातें करता ।फिर भरत को ध्यान आया कि भैया-भाभी को भी एकांत मिलना चाहिए ।उर्मिला को देख भी उनके मन में हूक उठती थी कि इस पतिव्रता को भी अपने पति का सानिध्य चाहिए ।

एक दिन भरत ने हनुमान जी से कहा,"हे पवनपुत्र! सीता भाभी को राम भैया के साथ एकांत में रहने का भी अधिकार प्राप्त है ।क्या आपको उनके माथे पर सिन्दूर नहीं दिखता?इसलिए संध्या पश्चात आप राम भैया को कृप्या अकेला छोड़ दिया करें "।
ये सुनकर हनुमान आश्चर्यचकित रह गए और सीता माता के पास गए ।


माता से हनुमान ने पूछा,"माता आप अपने माथे पर सिन्दूर क्यों लगाती हैं।" यह सुनकर सीता माता बोलीं,"स्त्री अपने माथे पर सिन्दूर लगाती है तो उसके पति की आयु में वृद्धि होती है और वह स्वस्थ रहते हैं "। फिर हनुमान जी प्रभु राम के पास गए ।