Dear Readers,
Bitcoin is money that has no true competition. It is the only money in the world that has a known supply cap that cannot be revoked or otherwise changed. In the context of good money, there are few characteristics that are more important than that.
Unfortunately, most people don’t truly understand how Bitcoin’s supply cap works. We’re used to fiat currencies and cryptocurrencies where the supply can change, or where the currency can become outright useless, at any time. As a result, it can be hard to comprehend the unique value proposition that Bitcoin offers.
I’m a firm believer in sharing Bitcoin education. So in today’s newsletter, we’ll talk about of couple types of what I’ll call “fake” Bitcoin, with the goal of differentiating between digital gold (i.e., Bitcoin) and fool’s gold:
