Proof of Reserves - Bitcoin Poem 129 - Problems/Solutions 41
by @bitcoinpoems
The value of a money depends on
How much of it is created, but it’s hard
To audit the gold supply or find out how
Many dollars or yen or euro are created.
Failure to have a proof of reserves system
Always leads to debasement of the money.
Therefore
An ideal money enables proof of reserves
And thus is auditable by anyone on earth
Without permission, from any computer.
Bitcoin is a ledger where you can check
The Proof of Reserves every 10 minutes,
Verifying the supply and halting inflation.