bitcoin is the people’s money

 Permissionless

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The “people’s money” refers to the inherent property of bitcoin that it is permissionless, and not controlled by a central party. Bitcoin can be owned by anyone, anywhere, in any amount. It was created for the people, and distributed in a fair way, through the process of bitcoin mining.

There was no pre-mine or distribution to the founders. Anyone can earn or purchase bitcoin and no one person or group controls bitcoin. It is not susceptible to manipulation by a central authority (or central bank).

People that own bitcoin can rest in the fact that it is a true bearer asset, that has no counterparty risk. If one owns bitcoin, they truly “own” bitcoin. They need not rely on other parties to make good on an agreement to deliver the underlying asset. Bitcoin IS the underlying asset.

 1 – Robert Kiyosaki, www.richdad.com

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