Friday, June 27, 2025

"In Mutual Mistrust We Trust" - Bitcoin ritual modern mantra

Bitcoin ritual modern mantra - In Mutual Mistrust We Trust

Print in Dollar Bill  - In God We Trust

Bitcoin is both virtual and digital.

In a technical context, it is digital currency exists as a blockchain data in decentralized ledger. 

IRS classifies it as virtual currency as it lacks physical form (not tangible like gold, coins, car, cash) but as a virtual form (intangible like digital currency, intellectual property, rights)

So Bitcoin is an intangible digital asset.

Mutual mistrust is a foundational principle for Bitcoin’s trust model, A system designed to function without requiring trust in any single party ("trustlessness" in the context of Bitcoin and blockchain technology). 



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