Customs Agents ask Andreas Antonopoulos whether he is "transporting" bitcoin
Some of you might remember a story where customs agents are now requiring travelers to declare your bitcoin at the border or risk confiscation. Authority doesn't understand that it has made an error. It made this mistake because it looks at the physical as a means of control. It thinks of bitcoin as a physical object, but it is not.
Did you ever ask yourself where your bitcoin is? Customs asked if Andreas Antonopoulos was carrying any bitcoin in his bag because that's their rules now, but it's an incredibly stupid one. Most of you probably say that it's on your computer (software wallet) or if you're like me and use a hardware wallet, that it is there. However, you would be incorrect. When you travel across borders, you carry cryptographically signed keys.
The bitcoin actually exists on the blockchain in cyberspace in several thousand nodes distributed worldwide in a public ledger called the blockchain. It is everywhere and nowhere because it is an idea. Money is no longer "transmitted" with the invention of bitcoin because bitcoin never leaves the blockchain. Instead, ownership rights to that bitcoin are transferred. The process is inverted. The money always stays in the same place and never moves.
Now lets imagine that the drones in government eventually realize their mistake and amend this law to make it illegal to carry "cryptographically signed keys". What then? Well if you're like Andreas and memorized them, you'd have to undergo a medical procedure called a lobotomy.
The problem is that it's dangerous to be right when authority is wrong.
Donations (public bitcoin address):
3FwxQsa7gmQ7c1GXJyvDTqmT6CM3mMEgcv
Up next: memorizing things will be illegal! What a marvelous technology cyrpto is.
Bitcoin is one of the best coins of the current period. Its price is coming out day by day, and your post is also very beautiful. Thank you so much for posting so beautiful
Thank you so much for this simple explanation! I now understand a little better how crypto works and how to think about this asset. The currency goes no where . . . you just have the key to unlock and access it! I love it!
Well put. It's a common enough newbie mistake to think you are carrying cryptos when you are in fact not as explained in this blog.
Haha great explanation mate!
Hope to see more.
Just did fun article about Free Bitcoin.
https://steemit.com/bitcoin/@bartcardi/how-to-earn-usd1000-of-free-bitcoin-playing-games-on-your-phone-and-more
Bitcoin is the most valuable coin today. your explanation is very easy and everyone can understand about crypto works. thanks for share this post @zoidsoft
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