Go to episodes page21. 10. 2025

The Cheat That Broke Money and the Rule That Saved It

Why Bitcoin Doesn’t Need Trust

By “Keeper,” Your Invisible Guide

If you watched the episode, you saw how long people have tried to find money they can trust. First, we swapped things (called barter), but that was hard. Then we used shiny gold coins. That worked for a while—until greedy rulers started cheating by shaving off bits of gold!

So here’s the big question I asked when I started building Bitcoin:

“Can money work… even if you don’t trust anyone?”

Let’s think about it step-by-step:

The Trust Problem

Every time you use money today—on a phone, in a bank, or at a store—you’re trusting someone:

  • You trust your bank to keep your money safe.
  • You trust the government not to print too much and make it worthless.
  • You trust apps not to freeze your account or make new rules while you sleep.

But what if they mess up? Or lie? Or change things without asking you?

That’s the problem: Too much trust. Not enough truth.

A Digital Trick… and a Digital Problem

Think about how you send an email with a photo attached.

Your friend receives the photo — but the original doesn’t disappear from your computer.

Now you both have a copy.

That’s fine for photos… but terrible for money.

If digital coins could be copied the same way, anyone could spend the same coin twice.

This is called the double-spend problem.

Before Bitcoin, the only fix was to appoint a “boss” — a company or server that kept everyone’s ledger.

But a boss can cheat, be hacked, go offline, or simply say “no” one day.

That’s not freedom.

So I Built Something Different

Instead of building another company or appointing a new boss, I built a new kind of system. No kings. No middlemen. No cheat codes.

In Bitcoin:

  • Everyone has the same rulebook (it’s called the code).
  • Everyone can check the rules for themselves.
  • A special process called Proof-of-Work helps everyone agree on what’s true.

It’s like having a magic chalkboard in the sky, where everyone writes down the same answers. If someone tries to cheat, the others will spot it right away.

Why It’s Better

When you don’t need to trust anyone…

  • No one can secretly steal from you.
  • No one can quietly change the rules.
  • No one can block you from using your money.

You don’t have to say “please” to a bank.
You don’t have to wait for permission.

You just check the truth. And truth doesn’t lie.

The Big Idea

So here’s the secret I want you to remember:

The best kind of trust… is the kind you don’t need.

That’s why I made Bitcoin. So you could use money that’s open, honest, and fair—no matter where you are, or who you are.

Ready to test what you’ve learned?

Join The Game of Satoshi now, take today’s quiz, and unlock your first secret word.

Every quiz you complete grows the Bitcoin prize pool. Don’t just read history—play it!

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The Cheat That Broke Money and the Rule That Saved It