๐—ง๐—ต๐—ฒ ๐—Ÿ๐—ฎ๐˜†๐—ฒ๐—ฟ๐˜€ ๐—ผ๐—ณ ๐—˜๐—ป๐—ฒ๐—ฟ๐—ด๐˜†-๐—ฆ๐—ฒ๐—ฐ๐˜‚๐—ฟ๐—ฒ๐—ฑ ๐— ๐—ผ๐—ป๐—ฒ๐˜๐—ถ๐˜‡๐—ฎ๐˜๐—ถ๐—ผ๐—ป: ๐—ฃ๐—ฎ๐—ฟ๐˜ ๐Ÿญ โ€” ๐—ง๐—ต๐—ฒ ๐—ฆ๐—ฎ๐˜†๐—น๐—ผ๐—ฟ ๐—ฆ๐—ฒ๐—ฟ๐—ถ๐—ฒ๐˜€, ๐—ฃ๐—ฎ๐—ฟ๐˜ ๐Ÿญ๐Ÿฐ

This continues my review of the Saylor Series. For Part 13, follow the link at the bottom of this post.

Yesterday, I listed 5 of my insights based on nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5mโ€™s discussion with nostr:npub15vzuezfxscdamew8rwakl5u5hdxw5mh47huxgq4jf879e6cvugsqjck4um on how #Bitcoin is the first cybernetic form of money.

Today, my insights will come from the first part of Saylorโ€™s exploration of ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ปโ€™๐˜€ ๐Ÿณ ๐—น๐—ฎ๐˜†๐—ฒ๐—ฟ๐˜€ ๐—ผ๐—ณ ๐˜€๐—ฒ๐—ฐ๐˜‚๐—ฟ๐—ถ๐˜๐˜† that protect it from disruption. These layers include its energy layer, technology layer, political layer, financial layer, network layer, spatial layer, and temporal layer.

More in my insights below๐Ÿ‘‡

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿญ: ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—•๐—ฒ๐—ณ๐—ฟ๐—ถ๐—ฒ๐—ป๐—ฑ๐˜€ ๐—˜๐—ป๐—ฒ๐—ฟ๐—ด๐˜†

Bitcoin miners are ๐˜ฆ๐˜น๐˜ต๐˜ณ๐˜ฆ๐˜ฎ๐˜ฆ๐˜ญ๐˜บ ๐˜ท๐˜ข๐˜ญ๐˜ถ๐˜ข๐˜ฃ๐˜ญ๐˜ฆ customers for energy companies, willing to pay up to 40 cents per kilowatt-hour to power their operations. This allows previously stranded or intermittent energy sources like volcanoes, waterfalls, wind, and solar to be fully monetized. ๐—ฆ๐˜‚๐—ฐ๐—ต ๐—ฝ๐—ฎ๐—ฟ๐˜๐—ป๐—ฒ๐—ฟ๐˜€๐—ต๐—ถ๐—ฝ๐˜€ ๐˜€๐—ฝ๐˜‚๐—ฟ ๐—ฟ๐—ฒ๐˜ƒ๐—ฒ๐—ป๐˜‚๐—ฒ ๐—ด๐—ฟ๐—ผ๐˜„๐˜๐—ต, ๐—ถ๐—ป๐—ป๐—ผ๐˜ƒ๐—ฎ๐˜๐—ถ๐—ผ๐—ป, ๐—ฎ๐—ป๐—ฑ ๐˜€๐˜‚๐˜€๐˜๐—ฎ๐—ถ๐—ป๐—ฎ๐—ฏ๐—ถ๐—น๐—ถ๐˜๐˜† ๐—ถ๐—ป๐—ถ๐˜๐—ถ๐—ฎ๐˜๐—ถ๐˜ƒ๐—ฒ๐˜€ ๐—ณ๐—ผ๐—ฟ ๐˜‚๐˜๐—ถ๐—น๐—ถ๐˜๐—ถ๐—ฒ๐˜€, while securing the Bitcoin network's energy needs.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฎ: ๐—Ÿ๐—ถ๐—ด๐—ต๐˜๐—ถ๐—ป๐—ด ๐—จ๐—ฝ ๐˜๐—ต๐—ฒ ๐——๐—ฒ๐˜ƒ๐—ฒ๐—น๐—ผ๐—ฝ๐—ถ๐—ป๐—ด ๐—ช๐—ผ๐—ฟ๐—น๐—ฑ

Poorer nations with stranded energy resources can catalyze profound economic development by partnering with Bitcoin miners, unlike with data centers. ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—บ๐—ผ๐—ป๐—ฒ๐˜๐—ถ๐˜‡๐—ฎ๐˜๐—ถ๐—ผ๐—ป ๐˜„๐—ผ๐—ฟ๐—ธ๐˜€ ๐™–๐™ฃ๐™ฎ๐™ฌ๐™๐™š๐™ง๐™š ๐˜๐—ต๐—ฎ๐˜ ๐—ต๐—ฎ๐˜€ ๐—ฎ๐—ป ๐—ถ๐—ป๐˜๐—ฒ๐—ฟ๐—ป๐—ฒ๐˜ ๐—ฐ๐—ผ๐—ป๐—ป๐—ฒ๐—ฐ๐˜๐—ถ๐—ผ๐—ป, so it has the potential to uplift struggling communities. This gives hope to energy-rich but capital-poor areas.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฏ: ๐—–๐—ผ๐—บ๐—ฝ๐—ฒ๐˜๐—ถ๐˜๐—ถ๐—ผ๐—ป ๐—•๐—ฒ๐—ด๐—ฒ๐˜๐˜€ ๐—œ๐—ป๐—ป๐—ผ๐˜ƒ๐—ฎ๐˜๐—ถ๐—ผ๐—ป

Bitcoin's open-access protocol and financial incentives spur fierce competition between miners globally on procuring energy, hardware, locations, and political allies. This Darwinian, capitalistic pressure cooker cuts waste while driving rapid advances that benefit the network. This way, ๐˜ฏ๐˜ฐ ๐˜ฐ๐˜ฏ๐˜ฆ ๐˜ฎ๐˜ช๐˜ฏ๐˜ฆ๐˜ณ ๐˜ฐ๐˜ณ ๐˜ต๐˜ฆ๐˜ค๐˜ฉ๐˜ฏ๐˜ฐ๐˜ญ๐˜ฐ๐˜จ๐˜บ ๐˜ง๐˜ช๐˜ณ๐˜ฎ ๐˜ณ๐˜ฆ๐˜ต๐˜ข๐˜ช๐˜ฏ๐˜ด ๐˜ฎ๐˜ฐ๐˜ฏ๐˜ฐ๐˜ฑ๐˜ฐ๐˜ญ๐˜บ ๐˜ค๐˜ฐ๐˜ฏ๐˜ต๐˜ณ๐˜ฐ๐˜ญ ๐˜ญ๐˜ฐ๐˜ฏ๐˜จ-๐˜ต๐˜ฆ๐˜ณ๐˜ฎ.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฐ: ๐—™๐—ถ๐—ป๐—ฎ๐—ป๐—ฐ๐—ถ๐—ฎ๐—น๐—ถ๐˜‡๐—ฎ๐˜๐—ถ๐—ผ๐—ป ๐—ผ๐—ณ ๐—˜๐—ป๐—ฒ๐—ฟ๐—ด๐˜†

๐˜‰๐˜ช๐˜ต๐˜ค๐˜ฐ๐˜ช๐˜ฏ ๐˜ฆ๐˜ง๐˜ง๐˜ฆ๐˜ค๐˜ต๐˜ช๐˜ท๐˜ฆ๐˜ญ๐˜บ ๐˜ต๐˜ถ๐˜ณ๐˜ฏ๐˜ด ๐˜ฆ๐˜ฏ๐˜ฆ๐˜ณ๐˜จ๐˜บ ๐˜ช๐˜ฏ๐˜ต๐˜ฐ ๐˜ฎ๐˜ฐ๐˜ฏ๐˜ฆ๐˜บ, similar to earlier industrial commodities like aluminum. But as a digital monetary network, Bitcoinโ€™s portability, accessibility, and addressable market size vastly exceed metals. In this sense, ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—ฐ๐—ผ๐˜‚๐—น๐—ฑ ๐—ฏ๐—ฒ ๐˜€๐—ฒ๐—ฒ๐—ป ๐—ฎ๐˜€ ๐—บ๐—ผ๐—ป๐—ฒ๐˜๐—ถ๐˜‡๐—ถ๐—ป๐—ด ๐—ฒ๐—น๐—ฒ๐—ฐ๐˜๐—ฟ๐—ผ๐—ป๐˜€ ๐—ฎ๐—ป๐—ฑ ๐—ฝ๐—ต๐—ผ๐˜๐—ผ๐—ป๐˜€ ๐˜๐—ผ ๐˜๐—ต๐—ฒ๐—ถ๐—ฟ ๐—ต๐—ถ๐—ด๐—ต๐—ฒ๐˜€๐˜ ๐—ฝ๐—ผ๐˜๐—ฒ๐—ป๐˜๐—ถ๐—ฎ๐—น.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฑ: ๐—ฃ๐—ฎ๐˜๐—ต ๐˜๐—ผ ๐—ฃ๐—ฟ๐—ผ๐˜€๐—ฝ๐—ฒ๐—ฟ๐—ถ๐˜๐˜†

With robust, flexible, self-healing security protocols spanning from volcanoes to semiconductors, ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—บ๐—ถ๐—ป๐—ถ๐—ป๐—ด ๐—ณ๐—ฎ๐—ฐ๐—ถ๐—น๐—ถ๐˜๐—ถ๐—ฒ๐˜€ ๐—ฐ๐—ฎ๐—ป ๐˜‚๐—ป๐—น๐—ผ๐—ฐ๐—ธ ๐˜„๐—ฒ๐—ฎ๐—น๐˜๐—ต ๐—ฒ๐˜ƒ๐—ฒ๐—ป ๐—ถ๐—ป ๐—ฎ๐—ฑ๐˜ƒ๐—ฒ๐—ฟ๐˜€๐—ฒ ๐—ฒ๐—ป๐˜ƒ๐—ถ๐—ฟ๐—ผ๐—ป๐—บ๐—ฒ๐—ป๐˜๐˜€ ๐—ฎ๐—ฟ๐—ผ๐˜‚๐—ป๐—ฑ ๐˜๐—ต๐—ฒ ๐˜„๐—ผ๐—ฟ๐—น๐—ฑ. This capability uplifts communities, stabilizes human lives, and offers hope for sustainable development worldwide by meaningfully aligning incentives. ๐˜ฝ๐™ž๐™ฉ๐™˜๐™ค๐™ž๐™ฃ ๐™จ๐™ฅ๐™ง๐™š๐™–๐™™๐™จ ๐™ฅ๐™ง๐™ค๐™จ๐™ฅ๐™š๐™ง๐™ž๐™ฉ๐™ฎ.

Thatโ€™s all for Part 14, but ๐˜๐—ต๐—ถ๐˜€ ๐˜๐—ผ๐—ฝ๐—ถ๐—ฐ ๐—ถ๐˜€๐—ปโ€™๐˜ ๐—ผ๐˜ƒ๐—ฒ๐—ฟ ๐˜†๐—ฒ๐˜!

Tomorrow, Michael Saylor will continue this discussion in ๐˜๐—ต๐—ฒ ๐˜€๐—ฒ๐—ฐ๐—ผ๐—ป๐—ฑ ๐—ฝ๐—ฎ๐—ฟ๐˜ ๐—ผ๐—ณ ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป'๐˜€ ๐—น๐—ฎ๐˜†๐—ฒ๐—ฟ๐˜€ ๐—ผ๐—ณ ๐—ฒ๐—ป๐—ฒ๐—ฟ๐—ด๐˜†-๐˜€๐—ฒ๐—ฐ๐˜‚๐—ฟ๐—ฒ๐—ฑ ๐—บ๐—ผ๐—ป๐—ฒ๐˜๐—ถ๐˜‡๐—ฎ๐˜๐—ถ๐—ผ๐—ป.

Make sure to ๐—Ÿ๐—ถ๐—ธ๐—ฒ๐Ÿค™ this, and ๐—•๐—ผ๐—ผ๐—ธ๐—บ๐—ฎ๐—ฟ๐—ธ๐Ÿ”– it for quick reference later!

Also ๐—ฆ๐—ต๐—ฎ๐—ฟ๐—ฒ๐Ÿ”„ this so others can gain value from Saylorโ€™s wisdom, too.

Have an insight that I didnโ€™t say?

Put it in the ๐—–๐—ผ๐—บ๐—บ๐—ฒ๐—ป๐˜๐˜€โฌ‡๏ธ

Yesterdayโ€™s post can be found here:

nostr:nevent1qqsy64x8t4elavl8xx2mwuh6u0t5h20gp99cl2k3q8sktja9497sr5spz3mhxue69uhhyetvv9ujuerpd46hxtnfdupzqh6grf99yjqdtcnevvpmhp75wumgzsschjpn4ct8rqe98547jxl0qvzqqqqqqylyk5me

๐—ง๐—ต๐—ฒ ๐—Ÿ๐—ฎ๐˜†๐—ฒ๐—ฟ๐˜€ ๐—ผ๐—ณ ๐—˜๐—ป๐—ฒ๐—ฟ๐—ด๐˜†-๐—ฆ๐—ฒ๐—ฐ๐˜‚๐—ฟ๐—ฒ๐—ฑ ๐— ๐—ผ๐—ป๐—ฒ๐˜๐—ถ๐˜‡๐—ฎ๐˜๐—ถ๐—ผ๐—ป: ๐—ฃ๐—ฎ๐—ฟ๐˜ ๐Ÿฎ โ€” ๐—ง๐—ต๐—ฒ ๐—ฆ๐—ฎ๐˜†๐—น๐—ผ๐—ฟ ๐—ฆ๐—ฒ๐—ฟ๐—ถ๐—ฒ๐˜€, ๐—ฃ๐—ฎ๐—ฟ๐˜ ๐Ÿญ๐Ÿฑ

This continues my review of the Saylor Series. For Part 14, follow the link at the bottom of this post.

Yesterday, I gave you 5 insights from nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5mโ€™s conversation with nostr:npub15vzuezfxscdamew8rwakl5u5hdxw5mh47huxgq4jf879e6cvugsqjck4um on the first part of Bitcoinโ€™s 7 layers of security.

In todayโ€™s review, I will continue with the second part of this topic, and explore the ways that ๐˜‰๐˜ช๐˜ต๐˜ค๐˜ฐ๐˜ช๐˜ฏ ๐˜ช๐˜ด ๐˜ข ๐˜ณ๐˜ฆ๐˜ด๐˜ช๐˜ญ๐˜ช๐˜ฆ๐˜ฏ๐˜ต ๐˜ข๐˜ฏ๐˜ฅ ๐˜ข๐˜ฅ๐˜ข๐˜ฑ๐˜ต๐˜ข๐˜ฃ๐˜ญ๐˜ฆ ๐˜ฏ๐˜ฆ๐˜ต๐˜ธ๐˜ฐ๐˜ณ๐˜ฌ thatโ€™s patterned after the decentralized resilience and adaptability found in nature.

Keep reading to learn more๐Ÿ‘‡

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿญ: ๐—™๐—ถ๐—ฟ๐˜€๐˜ ๐—Ÿ๐—ถ๐—ป๐—ฒ ๐—ผ๐—ณ ๐——๐—ฒ๐—ณ๐—ฒ๐—ป๐˜€๐—ฒ

Well-capitalized global Bitcoin mining companies have ๐˜ฃ๐˜ช๐˜ญ๐˜ญ๐˜ช๐˜ฐ๐˜ฏ๐˜ด of dollars at stake, so they constitute ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป'๐˜€ ๐—ณ๐—ถ๐—ฟ๐˜€๐˜ ๐—น๐—ถ๐—ป๐—ฒ ๐—ผ๐—ณ ๐—ฑ๐—ฒ๐—ณ๐—ฒ๐—ป๐˜€๐—ฒ. These miners operationally run the network by validating transactions and mining blocks. With infrastructure and operations spanning many jurisdictions, they are extremely resistant to attacks.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฎ: ๐—•๐—ฟ๐—ถ๐—ฑ๐—ด๐—ถ๐—ป๐—ด ๐—ช๐—ผ๐—ฟ๐—น๐—ฑ๐˜€

Bitcoin mining expends real energy to ๐—ฎ๐—ป๐—ฐ๐—ต๐—ผ๐—ฟ ๐˜๐—ต๐—ฒ ๐—ป๐—ฎ๐˜๐—ถ๐˜ƒ๐—ฒ๐—น๐˜† ๐—ฑ๐—ถ๐—ด๐—ถ๐˜๐—ฎ๐—น ๐—ฐ๐˜‚๐—ฟ๐—ฟ๐—ฒ๐—ป๐—ฐ๐˜† ๐˜๐—ผ ๐—ฝ๐—ต๐˜†๐˜€๐—ถ๐—ฐ๐—ฎ๐—น ๐—ฟ๐—ฒ๐—ฎ๐—น๐—ถ๐˜๐˜†. This energy burn attracts substantial conventional investments, since mining facilities have significant infrastructure and operating expenses. Because of this, ๐˜ฎ๐˜ช๐˜ฏ๐˜ช๐˜ฏ๐˜จ ๐˜ญ๐˜ช๐˜ฏ๐˜ฌ๐˜ด ๐˜‰๐˜ช๐˜ต๐˜ค๐˜ฐ๐˜ช๐˜ฏ'๐˜ด ๐˜ข๐˜ฑ๐˜ฐ๐˜ญ๐˜ช๐˜ต๐˜ช๐˜ค๐˜ข๐˜ญ ๐˜จ๐˜ฐ๐˜ท๐˜ฆ๐˜ณ๐˜ฏ๐˜ข๐˜ฏ๐˜ค๐˜ฆ ๐˜ต๐˜ฐ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฑ๐˜ฐ๐˜ญ๐˜ช๐˜ต๐˜ช๐˜ค๐˜ฐ-๐˜ฆ๐˜ค๐˜ฐ๐˜ฏ๐˜ฐ๐˜ฎ๐˜ช๐˜ค ๐˜ธ๐˜ฐ๐˜ณ๐˜ญ๐˜ฅ.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฏ: ๐—ฆ๐—ฝ๐—ฎ๐—ฐ๐—ฒ-๐—ง๐—ถ๐—บ๐—ฒ ๐—–๐—ผ๐—ป๐˜€๐˜๐—ฎ๐—ป๐˜๐˜€

Invariant parameters in Bitcoin's protocol resemble cosmic space-time constants. All attempts to change these core settings are as ๐—ฑ๐—ถ๐˜€๐—ฎ๐˜€๐˜๐—ฟ๐—ผ๐˜‚๐˜€ as attempting to alter the fundamental laws of physics. Bitcoin's network remains stable by relying on the ๐˜ฑ๐˜ฆ๐˜ณ๐˜ฎ๐˜ข๐˜ฏ๐˜ฆ๐˜ฏ๐˜ค๐˜ฆ of its space-time foundations.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฐ: ๐——๐—ฒ๐—ฐ๐—ฒ๐—ป๐˜๐—ฟ๐—ฎ๐—น๐—ถ๐˜‡๐—ฎ๐˜๐—ถ๐—ผ๐—ป ๐——๐—ฟ๐—ถ๐˜ƒ๐—ฒ๐—ฟ๐˜€

Bitcoin's spatial distribution across the globe is driven by miner demand for inexpensive energy ๐—ฎ๐—ป๐˜†๐˜„๐—ต๐—ฒ๐—ฟ๐—ฒ ๐—ถ๐˜ ๐—ฒ๐˜…๐—ถ๐˜€๐˜๐˜€. Any attack on Bitcoin's entrenched mining infrastructure would require secretly marshalling resources at scale over ๐˜ฎ๐˜ข๐˜ฏ๐˜บ years. This demanding latency provides ๐—ถ๐—ป๐—ต๐—ฒ๐—ฟ๐—ฒ๐—ป๐˜ ๐—ฟ๐—ฒ๐˜€๐—ถ๐˜€๐˜๐—ฎ๐—ป๐—ฐ๐—ฒ against attempts for anyone to undermine the network.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฑ: ๐—ฆ๐—ฒ๐˜ ๐—ถ๐—ป ๐—ฆ๐˜๐—ผ๐—ป๐—ฒ

Bitcoin's innovation was digital irreproducibility โ€” ๐˜ข๐˜ฃ๐˜ด๐˜ฐ๐˜ญ๐˜ถ๐˜ต๐˜ฆ immutability cemented by Proof of Work. The network cannot function securely if participants believe its monetary assurances can be changed. While several past proposals have threatened this invariance, no maneuvers by developers can safely modify Bitcoin's essential parameters.

Thatโ€™s all for Part 15!

Join me on Monday for Part 16, when Iโ€™ll dive into insights from Saylorโ€™s discussion on how Bitcoin, as a monetary technology, has an evolutionary process of its own.

Be sure to hit ๐—Ÿ๐—ถ๐—ธ๐—ฒ๐Ÿค™, and ๐—•๐—ผ๐—ผ๐—ธ๐—บ๐—ฎ๐—ฟ๐—ธ๐Ÿ”– this for later!

And ๐—ฆ๐—ต๐—ฎ๐—ฟ๐—ฒ๐Ÿ”„ this so others can benefit from this, as well.

Were there any insights you wish I had said?

Drop it in the ๐—–๐—ผ๐—บ๐—บ๐—ฒ๐—ป๐˜๐˜€โฌ‡๏ธ

To read yesterdayโ€™s post, go here:

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Discussion

๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—ถ๐˜€ ๐—˜๐˜ƒ๐—ผ๐—น๐˜‚๐˜๐—ถ๐—ผ๐—ป๐—ฎ๐—ฟ๐˜† ๐— ๐—ผ๐—ป๐—ฒ๐˜† โ€” ๐—ง๐—ต๐—ฒ ๐—ฆ๐—ฎ๐˜†๐—น๐—ผ๐—ฟ ๐—ฆ๐—ฒ๐—ฟ๐—ถ๐—ฒ๐˜€, ๐—ฃ๐—ฎ๐—ฟ๐˜ ๐Ÿญ๐Ÿฒ

This continues my review of the Saylor Series. For Part 15, follow the link at the bottom of this post.

Last week ended with Parts 14 and 15, which included my insights from the thoughts that nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m shared with nostr:npub15vzuezfxscdamew8rwakl5u5hdxw5mh47huxgq4jf879e6cvugsqjck4um, on the 7 layers of Bitcoinโ€™s security.

Today, my insights will come from Michael Saylorโ€™s comments on Bitcoinโ€™s ability to ๐˜ฆ๐˜ท๐˜ฐ๐˜ญ๐˜ท๐˜ฆ as monetary technology.

Read more below๐Ÿ‘‡

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿญ: ๐—Ÿ๐—ฎ๐˜†๐—ฒ๐—ฟ ๐Ÿฎ ๐—˜๐—ป๐—ฎ๐—ฏ๐—น๐—ฒ๐˜€ ๐—ฆ๐—ฐ๐—ฎ๐—น๐—ฒ

The Bitcoin base layer secures digital property but is ๐—น๐—ถ๐—บ๐—ถ๐˜๐—ฒ๐—ฑ ๐—ถ๐—ป ๐˜€๐—ฐ๐—ฎ๐—น๐—ฎ๐—ฏ๐—ถ๐—น๐—ถ๐˜๐˜†. Lightning and other layer 2 protocols enable transactions to occur with much greater speed and volume by settling payment channels off-chain, ๐˜ธ๐˜ฉ๐˜ช๐˜ญ๐˜ฆ ๐˜ด๐˜ต๐˜ช๐˜ญ๐˜ญ ๐˜ญ๐˜ฆ๐˜ท๐˜ฆ๐˜ณ๐˜ข๐˜จ๐˜ช๐˜ฏ๐˜จ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ด๐˜ฆ๐˜ค๐˜ถ๐˜ณ๐˜ช๐˜ต๐˜บ ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ฆ ๐˜ถ๐˜ฏ๐˜ฅ๐˜ฆ๐˜ณ๐˜ญ๐˜บ๐˜ช๐˜ฏ๐˜จ ๐˜ฃ๐˜ญ๐˜ฐ๐˜ค๐˜ฌ๐˜ค๐˜ฉ๐˜ข๐˜ช๐˜ฏ. Layer 2 solutions improve network performance, and the use of Bitcoin itself to stake and secure these higher layers allows for ๐˜ฆ๐˜น๐˜ฑ๐˜ฐ๐˜ฏ๐˜ฆ๐˜ฏ๐˜ต๐˜ช๐˜ข๐˜ญ ๐˜จ๐˜ข๐˜ช๐˜ฏ๐˜ด in transaction capacity.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฎ: ๐—™๐—ถ๐—ป๐—ฎ๐—ป๐—ฐ๐—ถ๐—ฎ๐—น ๐—”๐—ฝ๐—ฝ๐—น๐—ถ๐—ฐ๐—ฎ๐˜๐—ถ๐—ผ๐—ป๐˜€ ๐—˜๐˜…๐—ฝ๐—ฎ๐—ป๐—ฑ ๐—ฅ๐—ฒ๐—ฎ๐—ฐ๐—ต

Beyond technical applications, there is great potential for financial applications leveraging Bitcoin and its derivatives to drive adoption. These include bitcoin-backed bonds and asset securitization, mobile banking services, retail lending/borrowing platforms, and other financial instruments only possible with programmable money. Such applications constitute ๐—ฎ๐—ป๐—ผ๐˜๐—ต๐—ฒ๐—ฟ ๐—ฑ๐—ถ๐—บ๐—ฒ๐—ป๐˜€๐—ถ๐—ผ๐—ป along which Bitcoin can scale.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฏ: ๐—ก๐—ฒ๐˜ƒ๐—ฒ๐—ฟ-๐—˜๐—ป๐—ฑ๐—ถ๐—ป๐—ด ๐—˜๐˜ƒ๐—ผ๐—น๐˜‚๐˜๐—ถ๐—ผ๐—ป

Bitcoin mining does not stand still, but ๐˜ฆ๐˜ท๐˜ฐ๐˜ญ๐˜ท๐˜ฆ๐˜ด ๐˜ฑ๐˜ฆ๐˜ณ๐˜ฑ๐˜ฆ๐˜ต๐˜ถ๐˜ข๐˜ญ๐˜ญ๐˜บ according to market dictates. Miners must continually upgrade equipment and improve efficiency to remain competitive as technology changes. This dynamic progression powered by capitalism and open competition drives ๐—ฐ๐—ผ๐—ป๐˜€๐˜๐—ฎ๐—ป๐˜ ๐—ฒ๐—ป๐—ต๐—ฎ๐—ป๐—ฐ๐—ฒ๐—บ๐—ฒ๐—ป๐˜๐˜€ ๐—ถ๐—ป ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป'๐˜€ ๐˜€๐—ฒ๐—ฐ๐˜‚๐—ฟ๐—ถ๐˜๐˜†, and represents a key advantage over alternative consensus models.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฐ: ๐—ฆ๐˜‚๐—ฟ๐˜ƒ๐—ถ๐˜ƒ๐—ฎ๐—น ๐—ผ๐—ณ ๐˜๐—ต๐—ฒ ๐—™๐—ถ๐˜๐˜๐—ฒ๐˜€๐˜

Bitcoin miners must be technically savvy and financially disciplined to continually reinvest revenues into better hardware and infrastructure. ๐—ง๐—ต๐—ฒ ๐˜€๐˜†๐˜€๐˜๐—ฒ๐—บ ๐—ณ๐—ถ๐—ป๐—ฎ๐—ป๐—ฐ๐—ถ๐—ฎ๐—น๐—น๐˜† ๐—ฝ๐˜‚๐—ป๐—ถ๐˜€๐—ต๐—ฒ๐˜€ ๐—ถ๐—ป๐—ฒ๐—ณ๐—ณ๐—ถ๐—ฐ๐—ถ๐—ฒ๐—ป๐˜ ๐—ผ๐—ฟ ๐˜€๐˜๐—ฎ๐—ด๐—ป๐—ฎ๐—ป๐˜ ๐—บ๐—ถ๐—ป๐—ฒ๐—ฟ๐˜€ by progressively squeezing them off the network. This survival-of-the-fittest dynamic aligns control with those who are ๐˜ฎ๐˜ฐ๐˜ด๐˜ต ๐˜ค๐˜ฐ๐˜ฎ๐˜ฑ๐˜ฆ๐˜ต๐˜ฆ๐˜ฏ๐˜ต in their stewardship of network security.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฑ: ๐—ฆ๐˜†๐—ป๐—ฒ๐—ฟ๐—ด๐˜† ๐—ผ๐—ณ ๐— ๐—ผ๐—ป๐—ฒ๐˜†'๐˜€ ๐—™๐˜‚๐—ป๐—ฑ๐—ฎ๐—บ๐—ฒ๐—ป๐˜๐—ฎ๐—น๐˜€

Bitcoin fuses together many important qualities to be sound money: the ๐˜ฆ๐˜ฏ๐˜ฆ๐˜ณ๐˜จ๐˜บ it uses represents work and real-world resource costs; ๐˜ข๐˜ฅ๐˜ท๐˜ข๐˜ฏ๐˜ค๐˜ฆ๐˜ฅ ๐˜ต๐˜ฆ๐˜ค๐˜ฉ๐˜ฏ๐˜ฐ๐˜ญ๐˜ฐ๐˜จ๐˜บ reflects human ingenuity and productivity; ๐˜ง๐˜ช๐˜ฏ๐˜ข๐˜ฏ๐˜ค๐˜ช๐˜ข๐˜ญ ๐˜ฅ๐˜ฆ๐˜ฑ๐˜ต๐˜ฉ enables mobility and flexibility; ๐˜ฏ๐˜ฆ๐˜ต๐˜ธ๐˜ฐ๐˜ณ๐˜ฌ๐˜ฆ๐˜ฅ ๐˜ฅ๐˜ช๐˜ด๐˜ต๐˜ณ๐˜ช๐˜ฃ๐˜ถ๐˜ต๐˜ช๐˜ฐ๐˜ฏ enables censorship-resistance; and ๐˜ด๐˜ฑ๐˜ข๐˜ต๐˜ช๐˜ข๐˜ญ ๐˜ข๐˜ฏ๐˜ฅ ๐˜ต๐˜ฆ๐˜ฎ๐˜ฑ๐˜ฐ๐˜ณ๐˜ข๐˜ญ ๐˜ฅ๐˜ฆ๐˜ค๐˜ฆ๐˜ฏ๐˜ต๐˜ณ๐˜ข๐˜ญ๐˜ช๐˜ป๐˜ข๐˜ต๐˜ช๐˜ฐ๐˜ฏ keeps it all secure. Combining these integral elements creates ๐—ฎ ๐—บ๐—ผ๐—ป๐—ฒ๐˜๐—ฎ๐—ฟ๐˜† ๐—ป๐—ฒ๐˜๐˜„๐—ผ๐—ฟ๐—ธ ๐—ด๐—ฟ๐—ฒ๐—ฎ๐˜๐—ฒ๐—ฟ ๐˜๐—ต๐—ฎ๐—ป ๐˜๐—ต๐—ฒ ๐˜€๐˜‚๐—บ ๐—ผ๐—ณ ๐—ถ๐˜๐˜€ ๐—ฝ๐—ฎ๐—ฟ๐˜๐˜€.

Thatโ€™s all for Part 16. ๐—ข๐—ก๐—Ÿ๐—ฌ ๐Ÿญ ๐— ๐—ข๐—ฅ๐—˜ ๐—Ÿ๐—˜๐—™๐—ง! ๐Ÿคฏ

Tomorrow, in the ๐™›๐™ž๐™ฃ๐™–๐™ก episode, Michael Saylor will talk about how the security, speed, low cost, and programmability of Bitcoin allows for endless financial and non-financial applications to be built on top of its base layer, setting it on its path to true ๐—ด๐—น๐—ผ๐—ฏ๐—ฎ๐—น ๐—ฎ๐—ฑ๐—ผ๐—ฝ๐˜๐—ถ๐—ผ๐—ป.

Remember to click ๐—Ÿ๐—ถ๐—ธ๐—ฒ๐Ÿค™, and create a ๐—•๐—ผ๐—ผ๐—ธ๐—บ๐—ฎ๐—ฟ๐—ธ๐Ÿ”– of this Saylor Series post, so you can collect them all!

And then ๐—ฆ๐—ต๐—ฎ๐—ฟ๐—ฒ๐Ÿ”„ this with others, too!

Have any other insights?

Share them in the ๐—–๐—ผ๐—บ๐—บ๐—ฒ๐—ป๐˜๐˜€โฌ‡๏ธ

Last Fridayโ€™s post can be found here:

nostr:nevent1qqs8x3ze6kd7hh04cg7utgwfqlc97nj0f33wpvvr4dpkpugw3y0y38gpr3mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmqzyp05sxj22fyq6h38jccrhwragaeks9pp30yr8tskwxpj20ftayd77qcyqqqqqqgadrzql