Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Bitcoin is firstly a ledger and secondly a currency.
by
pooya87
on 11/07/2021, 04:14:35 UTC
⭐ Merited by ETFbitcoin (1)
I asked in the previous article, what exactly is Bitcoin? What are the essential attributes of Bitcoin? My answer is that if all external factors  are removed, Bitcoin is a distributed database.
You were also trying to say "Bitcoin comes first and blockchain comes later".
The fact is that you can not separate different aspects of bitcoin. Bitcoin is a combination of multiple technologies and if you remove one it will cease to exist. In other words if you "remove all external factors" bitcoin will no longer be a distributed database either simply because it wouldn't have any reason to exist.
This database exists because bitcoin is a currency that has a value and miners mine it and nodes store its blockchain which can be used as a distributed database. All go hand in hand.

Quote
When we know that Bitcoin is a database,
The problem when you change the definition and selectively use only one characteristic is that the definition starts to fall apart.
A database by definition is storing raw data that can be interpreted anyway you like and can be changed very easily. Neither of which are true in bitcoin. You can only interpret the "data" in blockchain in one way, as blocks and transactions, and you can not change them freely since they are protected by cryptography.
A database also has no reason to be immutable, in fact the basic characteristic of a "database" is  mutability.

I also wouldn't rank them either, saying this comes first and that second. Bitcoin is a whole system that has all of the above at the same time.