The greatest Bitcoin explanation of all time
According to Donald Trump, the “greatest Bitcoin explanation of all time” occurred on October 11, 2018. On that day, during an open session hearing of the US Senate Committee on Banking, Housing, and Urban Affairs, Coin Center’s Peter Van Valkenburgh delivered a six-minute speech. Last night, Trump posted Van Valkenburgh’s speech to Truth Social, along with his effusive praise and Van Valkenburgh acknowledged the endorsement. During his testimony, Van Valkenburgh introduced Bitcoin as the world’s first public blockchain network and cryptocurrency. Within seven sentences, he explained its core value proposition: the ability to without send money over the internet “without the need to trust a middleman.” For dozens of paragraphs, Van Valkenburgh focused on Bitcoin’s functionality without any company, bank, executive, or trusted intermediary. No other function of Bitcoin is particularly valuable, he explained, without its simultaneous performance without tr...