Post
Topic
Board Altcoin Discussion
Re: What do you tell people?
by
fracas
on 14/06/2018, 17:17:37 UTC
I tell people Blockchain is a permissionless system to stores value, information and money and the first example of a money-blockchain is Bitcoin.

Most people put their money in the bank nowadays because they trust the bank with their savings. Although most banks have a small chance of bankruptcy, there is still a possibility every day that they can tell their clients that they do not have their money anymore (it already happened several times). What the bank does is storing how much money there is in a bank account, this is exactly what a blockchain does. In the case of the bank you don't own your money, in case of Blockchain if you own your private key you own the money. So why do we still take this risk, why do we not cut out the middle man and bear no risk?