Bitcoin (BTC) has long sparked debates over what it truly represents, with some arguing that it’s digital gold, a store of value, or a revolutionary form of money. Recently, Adam Back, the co-founder and CEO of Blockstream , weighed in with a bold statement, claiming that BTC embodies the essence of permissionless bearer money.

Bitcoin As Permissionless Bearer Money

Back’s description of Bitcoin as permissionless bearer money positions it as the modern realization of the cypherpunk’s vision for bearer eCash . Essentially, this concept means that BTC, unlike traditional bank accounts or centralized digital currencies, is owned and controlled directly by the individual who holds the private keys . This means that no intermediary can freeze, reverse, or control the t

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