Bank Notes without Banks or Borders

By Rich Apodaca | Updated

Imagine a dollar bill. A very long one, with its right edge in New York and its left edge in San Francisco.

Bitcoin Bill

Push on the left edge, and the bill ends up in New York. Push on the right edge, and the bill ends up in San Francisco. Pulling on the bill does nothing.

Bitcoin is like that dollar bill. Except that there are many of them, they can be pushed anywhere in the world, and there is no Federal Reserve.