Cypherpunk Icon Adam Back: Bitcoin Is 'Digital Gold for the Next Millennia'

2023-9-27 20:35

Adam Back, renowned cypherpunk and creator of Hashcash, made a bold statement on X this weekend, arguing that Bitcoin is poised to replace gold as the ultimate store of value for the next millennium. 

Back's remarks reflect his deep-rooted belief in the transformative potential of Bitcoin and its ability to outshine traditional assets like gold.

In his X post, Back said:

These words carry significant weight in the crypto community, as Adam Back is no stranger to the world of digital currencies. He has played a pivotal role in the development of cryptographic technologies and is widely recognized as a cypherpunk luminary. 

More specifically, his creation, Hashcash, laid the groundwork for the concept of proof-of-work, which Bitcoin's founder, Satoshi Nakamoto, later incorporated into the cryptocurrency's underlying technology.

Adam Back's advocacy for Bitcoin as the "digital gold" of the future aligns with the broader narrative that has been gaining momentum in recent years. Bitcoin has increasingly been viewed as a superior store of value compared to traditional assets like gold due to its scarcity, divisibility, and resistance to censorship.

As central banks continue to engage in unprecedented levels of monetary expansion, Bitcoin's appeal as a hedge against inflation and economic uncertainty has grown significantly. Investors, institutions, and individuals alike are turning to Bitcoin as a way to safeguard their wealth in an increasingly uncertain financial landscape.

Back's perspective on Bitcoin's long-term potential also resonates with his history in the cypherpunk movement, where individuals have championed the idea of digital privacy, censorship resistance, and financial sovereignty. Bitcoin, with its decentralized nature and cryptographic security, embodies many of the principles that cypherpunks have long advocated for.

While the debate over whether Bitcoin can truly replace gold as the ultimate store of value rages on, Adam Back's endorsement carries substantial weight.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 97266.13 (+0.10%)
Объем 24H $96.88b
Изменеия 24h: 2.98 %, 7d: 6.58 %
Cегодня L: $94006.77 - H: $98156.69
Капитализация $1924.447b Rank 1
Цена в час новости $ 26288.8 (269.99%)

bitcoin back gold adam sees suggesting new

Источник: bitcoinmagazine.com

bitcoin back → Результатов: 126


Bitcoin slides off Fed meeting before bouncing back, but what next?

Key Takeaways Federal Reserve hikes 25 bps, Bitcoin drops over 6% Bounceback in prices follow, however, as market bets on rate cuts down the line Bitcoin originally fell to $26,700 and is now back at $27,700 Tight monetary policy appears to be coming to a close, which is exactly what Bitcoin investors want to hear […] The post Bitcoin slides off Fed meeting before bouncing back, but what next? appeared first on CoinJournal.

2023-3-23 17:14


Will Bitcoin bounce back? Why 2022’s pain is different to anything previously

Key Takeaways Bitcoin has closed the year down 64%, its worst year since 2018 This bear market is different, as for the first time ever in Bitcoin’s existence, the wider economy is also pulling back Bitcoin’s correlation with the stock market is extremely high, proving it trades like a high-risk asset Fans will hope this […] The post Will Bitcoin bounce back? Why 2022’s pain is different to anything previously appeared first on CoinJournal.

2023-1-4 15:05


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

A Nation of Individuals?

The following is an excerpt from The Satoshi Papers, an open debate on money, state, and society in a Bitcoin world, edited by Natalie Smolenski.

Bhutan’s Bitcoin stash hits $1 billion as speculation around nation state adoption intensifies

Bhutan’s Bitcoin reserves have quietly swelled to over $1 billion, positioning the small Himalayan kingdom as a unique player in the world of sovereign wealth. According to Arkham Intelligence data, Bhutan’s government-owned Druk Holdings has reportedly amassed over 12,500 BTC, marking a significant commitment to digital assets amid growing interest in crypto as a strategic […] The post Bhutan’s Bitcoin stash hits $1 billion as speculation around nation state adoption intensifies appeared first on CryptoSlate.