During the Chinese New Year, I introduced Bitcoin to my cousin in the village. That's what I said Account book: There is no bank in the global village, and anyone in the village transfers money to each other through the loudspeaker on the big tree at the entrance of the village, broadcasting Tell everyone. Every villager records it on the ledger, and every transaction is open, transparent, and searchable. Cannot falsify or deny. chain ⛓️： Every page (block) of the ledger is locked onto the previous page, interlocking and traceable from day one until now. Days pass by day by day, and the village's ledger remains traceable, like an unbreakable golden chain ⛓️。 In this world, there is no need for government, banking, or other institutions to intervene. Mining: Mining is the process of seizing accounting rights. The accountant is the miner ⚒️。 Why bother to compete for bookkeeping, because there are new BTC rewards and transaction fees for block releases. Miners can choose to sell these BTC to pay for electricity bills, or they can choose to hoard them. Essentially, it's about being an energy source ⚡ Business in the industry. Reward: Bitcoin is a gold mine with a total amount of 21 million, which spews gold out according to a fixed pattern. Starting from 1/3 of 2009, it will no longer be available after spraying by 2140. Previously, there were sprays of 50, 25, 12.5, and 6.25 at a time, which gradually halved. Now, there are sprays of 3.125 at a time. Countless miners around the world are solving complex mathematical problems at the foot of the mountain. Whoever solves them first is eligible to hold a large pot and walk to the entrance of the mountaintop to catch a reward of 3.125 new coins, as well as transaction fees. Mining machine: To have the right to keep accounts, one must be able to read and have a device for keeping accounts. Like the earliest villagers keeping accounts on stones; Later on, it was the abacus And paper; Now it's smartphones and computers. Mining equipment is constantly being upgraded, and the requirements for capital and energy are also increasing. Ownership: Like gold, if a person wants to own Bitcoin, there are only two choices: one is to mine it themselves, and the other is to find someone else to buy it - exchanges have emerged. Of course, there are also people who go astray and choose to steal, and the North Korean national team often does this. Attack: To tamper with the ledger, it is necessary to hire more than 51% of the labor force (computing resources) in the entire village. Now the size of the village's economy is close to 2 trillion US dollars, and the cost of attacks is astronomical, making the ledger as solid as a rock. Self custody: Exchanges are like banks, and the money you put in the bank may be misappropriated by bank personnel. The long-term safe way is to keep it safe by oneself. The mnemonic is the unique key, and the wallet address is the house number of the global village. Each door They are all transparent, and even without a key, you can see how many coins are in the room. Once the key Accidentally lost, even if the immortal came, he could only look at the coins in the room and could not transfer them. Value: Although gold has some industrial value, its high value is mainly due to thousands of years of consensus accumulation; Bitcoin is no exception, its rapid growth in value is also due to 'consensus'. Due to the above-mentioned self operating sound mechanism, more and more people believe in its comprehensive value: combating inflation, free circulation without censorship, and value storage. Digital Gold: In recent years, people have regarded Bitcoin as "digital gold" and many believe it is better than gold. Here is a table I made when sharing it with high school students at a key high school in Beijing in November 2024.