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# Part 1, Bitcoin analogies
Bitcoin is unlike anything that has existed before, but from some points of
view it is similar to things we are already familiar with. In this video some
of these similarities are introduced and Bitcoin will be compared to things you
already know.
## Bitcoin is like digital money
This is the most obivious analogy. Bitcoin is a form of value that can is
identified by its digital properties.
## Bitcoin is like digital gold
Another often used analogy. Bitcoin is used as a store of value. It is
scarce. It is expensive to produce. It is a commodity, what is Bitcoin isn't
determined by a law or by a contractual arrangement.
## Bitcoin is like the brain
Similarly as a brain consists of cells, Bitcoin consists of nodes (computers).
The functionality of the brain isn't located in any single cell, but in the
cells working together. Each node contains the exact copy of a consensus, like
each cell contains a DNA. Bitcoin's nodes also work together to form Bitcoin.
## Bitcoin is like a central bank
Just like central bank has a ledger recording how much money is created, how
much there is in each account and how it is transferred between the accounts,
Bitcoin also has a record of these events. The main difference is that a
central bank is, well, centralized, having a formal group of people making
decisions, Bitcoin is decentralized and there is no such group of people.
## Bitcoin is like the internet
Internet allows people to connect their computers together and exchange
information. Bitcoin allows people to connect their computers and exchange
## Bitcoin is like an auditor
Bitcoin has thousands and tens of thousands of computer verifying all the times
that the records are adhering to the rules.
## Bitcoin is like the economy