Bitcoin_educational_videos/analogies.md

Analogies to help understand bitcoin

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 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

Bitcoin is like the internet

Bitcoin is like an auditor

Bitcoin is like the economy