2021-12-10 04:18:30 +00:00
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# Analogies to help understand bitcoin
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## Bitcoin is like digital money
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This is the most obivious analogy. Bitcoin is a form of value that can is
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identified by its digital properties.
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## Bitcoin is like digital gold
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Another often used analogy. Bitcoin is used as a store of value. It is
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scarce. It is expensive to produce. It is a commodity, what is Bitcoin isn't
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determined by a law or by a contractual arrangement.
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## Bitcoin is like brain
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Similarly as a brain consists of cells, Bitcoin consists of nodes (computers).
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The functionality of the brain isn't located in any single cell, but in the
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cells working together. Bitcoin's nodes also work together to form Bitcoin.
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## Bitcoin is like a central bank
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## Bitcoin is like the internet
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## Bitcoin is like an auditor
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## Bitcoin is like the economy
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