After spending 10 years thinking about Money & Bitcoin, here's the simplest explanation I can come up with: Money is a technology to move Value across Space, Time, and Scale. Value is the utility humans derive from Goods & Services. Value is highly subjective, and it changes across Time and Space. Unbeknownst to them, Economists have defined these functions as: - Store of Value (Time) - Medium of Exchange (Space) - Unit of Account (Scale) Throughout History, no monetary system has managed to satisfy all 3 functions of Money at once. This is where the idea of Backing Money and the necessity of separating Money and Currency come from. This trade-off can be described as a Money Trilemma: you can optimize for 2, but not all 3. Gold is great at Time & Scale, but not Space. Fiat is great at Space & Scale, but not Time. Until the invention of Bitcoin. Bitcoin is the first form of Money that successfully excels at all 3 functions simultaneously. It achieves that by perfecting all the properties of hashtag#Money, with no extra room for improvement: #Bitcoin is: - Infinitely Divisible - Instantly Portable - Forever Durable - Mathematically Finite (what is mistakenly called Scarcity) - Perfectly Fungible Bitcoin is the final Evolution of Money. The World just hasn’t figured it out yet.