The title of the paper is the most uninteresting thing about it. There are some properties of bitcoin that are the true innovation and foundational definition of what it is. I don't care if the majority consensus decides to ditch them. I would reject their new definition of bitcoin. There is no way to trustlessly determine majority consensus based on opinion alone. That's the whole point of bitcoin.
Discussion
This reminds me of discussions of "Market Fit."
Asking ChatGPT about "Market Fit" in relation to Bitcoin.
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Bitcoin has strong market fit in multiple areas:
- Store of Value ("Digital Gold") – Scarce, decentralized, censorship-resistant. Institutions & sovereigns accumulating.
- Medium of Exchange – Borderless payments, growing Lightning adoption. Still improving.
- Inflation Hedge – Fixed supply makes it attractive vs fiat debasement. Seen in high-inflation countries.
- Uncensorable Wealth – Used in unstable regions to protect assets.
- Remittances – Bypasses expensive remittance networks, gaining traction.
- Institutional Adoption – ETFs, corporate treasury holdings growing.
Bitcoin’s market fit is evolving, but it's here to stay. 🚀