{"id":69,"date":"2017-12-24T11:22:43","date_gmt":"2017-12-24T11:22:43","guid":{"rendered":"http:\/\/blog.atlasstruggle.org\/?p=69"},"modified":"2017-12-24T11:23:03","modified_gmt":"2017-12-24T11:23:03","slug":"what-is-bitcoin","status":"publish","type":"post","link":"https:\/\/blog.atlasstruggle.org\/?p=69","title":{"rendered":"WHAT IS BITCOIN?\u00a0"},"content":{"rendered":"<p>BitCoin is not a currency. BitCoin is a vehicle for exchanging value. A BitCoin has no value nor does it even exist until someone deposits fiat currency or transfers it into an exchange. So BitCoin is a payment system.<\/p>\n<p>The problem arises when the payment system changes into a BitCoin system based on irrational faith. BitCoin&#8217;s value is dependent on the current value of that currency plus BitCoin acts like a stock where the perceived value increases its price to irrational levels.<\/p>\n<p>BitCoin is a Beanie Baby Currency. People could exchange higher values of Beanie Babies for more goods until the price of beanie babies drops to nothing where they can be used as a cloth to clean toilets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BitCoin is not a currency. BitCoin is a vehicle for exchanging value. A BitCoin has no value nor does it even exist until someone deposits fiat currency or transfers it into an exchange. So BitCoin is a payment system. The problem arises when the payment system changes into a BitCoin system based on irrational faith. &hellip; <a href=\"https:\/\/blog.atlasstruggle.org\/?p=69\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">WHAT IS BITCOIN?\u00a0<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-69","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/blog.atlasstruggle.org\/index.php?rest_route=\/wp\/v2\/posts\/69","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.atlasstruggle.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.atlasstruggle.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.atlasstruggle.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.atlasstruggle.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=69"}],"version-history":[{"count":1,"href":"https:\/\/blog.atlasstruggle.org\/index.php?rest_route=\/wp\/v2\/posts\/69\/revisions"}],"predecessor-version":[{"id":70,"href":"https:\/\/blog.atlasstruggle.org\/index.php?rest_route=\/wp\/v2\/posts\/69\/revisions\/70"}],"wp:attachment":[{"href":"https:\/\/blog.atlasstruggle.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=69"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.atlasstruggle.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=69"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.atlasstruggle.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=69"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}