Censorshipresistant payment system from "summary" of Digital Gold by Nathaniel Popper
In the world of digital currencies, a censorship-resistant payment system is the holy grail. Simply put, it is a system that cannot be controlled or censored by any single entity or government. In the early days of Bitcoin, this concept was revolutionary. For the first time, people had a way to transfer money across borders without the fear of interference from banks or government authorities. The decentralized nature of Bitcoin is what makes it censorship-resistant. Instead of relying on a central authority to process transactions, Bitcoin operates on a peer-to-peer network. This means that no single entity has control over the system, making it nearly impossible to shut down or censor. In countries with strict capital controls or oppressive regimes, a censorship-resistant payment system like Bitcoin can be a lifeline. Citizens can use Bitcoin to transfer money in and out of the country without fear of being blocked or monitored. This level of financial freedom is unprecedented in the traditional banking system. The ...
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