Bitcoin's seven pillars

Bitcoin's seven main elements are combined in one belief system. Seven Elements of the Bitcoin Brand People tend to ignore new forms of money. This makes absolute sense because the value of a monetary asset mainly depends on whether other people are already using it. In this sense, any attempt to bring a new form of currency into the world has little chance of success. In the history of the modern world, governments have had a monopoly on money-making initiatives. Imagine how everyone would react if a new monetary asset emerged. Had this entity not been supported by a nation-state, its chances of success would have been even lower. So how did Bitcoin grow so fast in just 10 years? This question has several answers. Many point to Satoshi's genius in combining different technologies in unorthodox ways. However, because of my historical degree and interest in anthropology, I would like to focus on something that has nothing to do with the technical aspects of Bitcoin. In this article, I will discuss that one of the main reasons for Bitcoin's success is something that resonates with us as humans on a much deeper level: the fundamental elements of the brand that, when combined, make it a belief system. The idea that some brands are actually belief systems was introduced by Patrick Hanlon, and I first learned this in his TED talk. For those who haven't seen this, these excerpts from "Primal Branding" will help you understand the basic proposition: "All belief systems have seven pieces of code that work together to make them believable. The more pieces there are, the more believable the belief system becomes. Products and The services contain seven pieces of code (creation story; belief; icons; rituals; pagans or non-believers; sacred words; and leader), they become an important part of our culture. "" The seven-piece primary code together creates a lasting belief.

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