{"id":9002,"date":"2025-07-21T16:46:46","date_gmt":"2025-07-21T13:46:46","guid":{"rendered":"https:\/\/handoli.com\/index.php\/2025\/07\/21\/the-greatest-bitcoin-explanation-of-all-time\/"},"modified":"2025-07-21T16:46:46","modified_gmt":"2025-07-21T13:46:46","slug":"the-greatest-bitcoin-explanation-of-all-time","status":"publish","type":"post","link":"https:\/\/handoli.com\/index.php\/2025\/07\/21\/the-greatest-bitcoin-explanation-of-all-time\/","title":{"rendered":"The greatest Bitcoin explanation of all time"},"content":{"rendered":"
<\/div>\n

According to Donald Trump, the \u201cgreatest Bitcoin explanation of all time\u201d occurred on October 11, 2018.<\/p>\n

On that day, during an open session hearing<\/a> of the US Senate Committee on Banking, Housing, and Urban Affairs, Coin Center\u2019s Peter Van Valkenburgh delivered a six-minute speech.<\/p>\n

Last night, Trump posted Van Valkenburgh\u2019s speech to Truth Social, along with his effusive praise<\/a> and Van Valkenburgh acknowledged<\/a> the endorsement.<\/p>\n

During his testimony, Van Valkenburgh introduced Bitcoin as the world\u2019s first public blockchain network and cryptocurrency. Within seven sentences, he explained its core value proposition: the ability to without send money over the internet \u201cwithout the need to trust a middleman.\u201d<\/strong><\/p>\n

For dozens of paragraphs, Van Valkenburgh focused on Bitcoin\u2019s functionality without any company, bank, executive, or trusted intermediary.<\/p>\n

No other function of Bitcoin is particularly valuable, he explained, without its simultaneous performance without trust in any intermediary.<\/p>\n

Indeed, Van Valkenburgh dedicated the vast majority of his speaking time to this single characteristic of trustlessness.<\/p>\n

Over and over again, he explained to senators how the network permits peer-to-peer payments without trust, unlike a bank-intermediated remittance, telecom-intermediated phone call, or broadcaster-intermediated airwaves message.<\/p>\n

He pleaded for the US government to prioritize Bitcoin as the world\u2019s first globally accessible public money, saying \u201cthere should not be a single point of failure\u201d in this newly discovered, trustless payments network.<\/p>\n

\u201c\u200b\u200bVulnerabilities are inescapable in systems that have single points of failure,\u201d Van Valkenburgh concluded.<\/p>\n

Trump blesses Bitcoin explanation<\/h2>\n

Nearly seven years later, the speech continues to impact leaders in federal government.<\/p>\n

Trump has promised<\/a> to make the US \u201cthe undisputed Bitcoin superpower\u201d and to end the Democrats\u2019 alleged \u201cregulatory war on crypto and Bitcoin.\u201d<\/p>\n

Indeed, he\u2019s signed executive orders creating a sovereign Strategic Bitcoin Reserve (SBR).<\/p>\n

Trump called<\/a> that SBR a \u201cdigital Fort Knox,\u201d despite it mostly consisting of temporary seizures and civil forfeitures<\/a> that might be returned to victims pursuant to court orders.<\/p>\n

\n
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Jerome Powell has been good for bitcoin, and Trump says he won\u2019t fire him<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Read more: Trump confused by Strategic Bitcoin Reserve he just ordered<\/a><\/em><\/p>\n

He\u2019s also ordered his secretaries of treasury and commerce to audit government bitcoin (BTC) holdings and propose budget-neutral ways to acquire additional BTC<\/strong>.<\/p>\n

Neither of the secretaries has made those deliverables<\/a> public.<\/p>\n

Van Valkenburgh remains at the same post he held seven years ago, serving as executive director of Coin Center, a political think tank.<\/p>\n

Got a tip? Send us an email securely via <\/em>Protos Leaks<\/em><\/a>. For more informed news, follow us on X<\/a>, <\/em>Bluesky<\/em><\/a>, and <\/em>Google News<\/em><\/a>, or subscribe to our <\/em>YouTube<\/em><\/a> channel.<\/em><\/p>\n

The post The greatest Bitcoin explanation of all time<\/a> appeared first on Protos<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

According to Donald Trump, the \u201cgreatest Bitcoin explanation of all time\u201d occurred on October 11, 2018. On that day, during an open session hearing of the US Senate Committee on Banking, Housing, and Urban Affairs, Coin Center\u2019s Peter Van Valkenburgh delivered a six-minute speech. Last night, Trump posted Van Valkenburgh\u2019s speech to Truth Social, along […]<\/p>\n","protected":false},"author":1,"featured_media":9003,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[147],"tags":[],"class_list":["post-9002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-invest"],"_links":{"self":[{"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/posts\/9002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/comments?post=9002"}],"version-history":[{"count":0,"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/posts\/9002\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/media\/9003"}],"wp:attachment":[{"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/media?parent=9002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/categories?post=9002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/handoli.com\/index.php\/wp-json\/wp\/v2\/tags?post=9002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}