๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—ถ๐˜€ ๐—ฎ ๐—–๐˜†๐—ฏ๐—ฒ๐—ฟ๐—ป๐—ฒ๐˜๐—ถ๐—ฐ ๐—Ÿ๐—ถ๐—ณ๐—ฒ๐—ณ๐—ผ๐—ฟ๐—บ ๐—•๐—ฎ๐˜€๐—ฒ๐—ฑ ๐—ผ๐—ป ๐—ก๐—ฎ๐˜๐˜‚๐—ฟ๐—ฎ๐—น ๐—Ÿ๐—ฎ๐˜„ โ€” ๐—ง๐—ต๐—ฒ ๐—ฆ๐—ฎ๐˜†๐—น๐—ผ๐—ฟ ๐—ฆ๐—ฒ๐—ฟ๐—ถ๐—ฒ๐˜€, ๐—ฃ๐—ฎ๐—ฟ๐˜ ๐Ÿญ๐Ÿฏ

This continues my review of the Saylor Series. For Part 12, follow the link at the bottom of this post.

Yesterday, I reviewed nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5mโ€™s explanation to nostr:npub15vzuezfxscdamew8rwakl5u5hdxw5mh47huxgq4jf879e6cvugsqjck4um on exactly how Bitcoin is superior to all other forms of money, and gave you 5 insights that I gleaned from it.

Today, my 5 insights will delve into the ways that ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—ถ๐˜€ ๐—บ๐—ผ๐—ฑ๐—ฒ๐—น๐—ฒ๐—ฑ ๐—ผ๐—ป ๐—ฐ๐—ฎ๐—ฝ๐—ถ๐˜๐—ฎ๐—น๐—ถ๐˜€๐—บ ๐—ฎ๐—ป๐—ฑ ๐—ป๐—ฎ๐˜๐˜‚๐—ฟ๐—ฒ ๐—ถ๐˜๐˜€๐—ฒ๐—น๐—ณ, as a competitive proof-of-work system, and as the first multi-national, self-correcting, cybernetic lifeform for money.

Letโ€™s get started๐Ÿ‘‡

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿญ: ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—ถ๐˜€ ๐—ฆ๐—ฒ๐—น๐—ณ-๐—š๐—ผ๐˜ƒ๐—ฒ๐—ฟ๐—ป๐—ถ๐—ป๐—ด

The Bitcoin network governs itself, adapting to challenges through features like its difficulty adjustment. It is self-healing, self-sealing, self-upgrading, permissionless, conservative, and adaptive โ€” able to route around attacks and problems ๐˜ธ๐˜ช๐˜ต๐˜ฉ๐˜ฐ๐˜ถ๐˜ต ๐˜ค๐˜ฆ๐˜ฏ๐˜ต๐˜ณ๐˜ข๐˜ญ๐˜ช๐˜ป๐˜ฆ๐˜ฅ ๐˜ช๐˜ฏ๐˜ต๐˜ฆ๐˜ณ๐˜ท๐˜ฆ๐˜ฏ๐˜ต๐˜ช๐˜ฐ๐˜ฏ. This makes Bitcoin an antifragile system.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฎ: ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—ฅ๐—ฒ๐˜€๐—ฝ๐—ฒ๐—ฐ๐˜๐˜€ ๐—ฃ๐—ฟ๐—ผ๐—ฝ๐—ฒ๐—ฟ๐˜๐˜† ๐—ฅ๐—ถ๐—ด๐—ต๐˜๐˜€

Bitcoin respects property rights and inheritance in a way no other asset does. If someone tries to coerce your Bitcoin from you, they cannot seize it if you refuse to give up the keys. And Bitcoin enables ๐—ฟ๐—ฒ๐—น๐—ถ๐—ฎ๐—ฏ๐—น๐—ฒ ๐—ฝ๐—ฎ๐˜€๐˜€๐—ฎ๐—ด๐—ฒ ๐—ผ๐—ณ ๐˜„๐—ฒ๐—ฎ๐—น๐˜๐—ต ๐˜๐—ผ ๐—ต๐—ฒ๐—ถ๐—ฟ๐˜€ per your instructions. ๐˜•๐˜ฐ ๐˜ฐ๐˜ต๐˜ฉ๐˜ฆ๐˜ณ ๐˜ฑ๐˜ณ๐˜ฐ๐˜ฑ๐˜ฆ๐˜ณ๐˜ต๐˜บ ๐˜ช๐˜ฏ ๐˜ฉ๐˜ช๐˜ด๐˜ต๐˜ฐ๐˜ณ๐˜บ has allowed individuals this degree of control and autonomy.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฏ: ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—ฃ๐—ฟ๐—ผ๐—บ๐—ผ๐˜๐—ฒ๐˜€ ๐—ฃ๐—ฒ๐—ฎ๐—ฐ๐—ฒ

Since Bitcoin cannot be seized by force, it changes incentives around violence and conflict. Instead of violent coercion, ๐—ป๐—ฒ๐—ด๐—ผ๐˜๐—ถ๐—ฎ๐˜๐—ถ๐—ผ๐—ป๐˜€ ๐—ฎ๐—ฟ๐—ฒ ๐—ฟ๐—ฒ๐—พ๐˜‚๐—ถ๐—ฟ๐—ฒ๐—ฑ ๐˜๐—ผ ๐—ฎ๐—ฐ๐—ฐ๐—ฒ๐˜€๐˜€ ๐—ผ๐˜๐—ต๐—ฒ๐—ฟ๐˜€' ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป, and attempts to confiscate it simply cause capital flight. This promotes ๐˜ฏ๐˜ฐ๐˜ฏ๐˜ท๐˜ช๐˜ฐ๐˜ญ๐˜ฆ๐˜ฏ๐˜ต ๐˜ค๐˜ฐ๐˜ฏ๐˜ง๐˜ญ๐˜ช๐˜ค๐˜ต ๐˜ณ๐˜ฆ๐˜ด๐˜ฐ๐˜ญ๐˜ถ๐˜ต๐˜ช๐˜ฐ๐˜ฏ, making Bitcoin a cleansing, civilizing technology.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฐ: ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป, ๐—–๐—ฎ๐—ฝ๐—ถ๐˜๐—ฎ๐—น๐—ถ๐˜€๐—บ, ๐—ฎ๐—ป๐—ฑ ๐—ก๐—ฎ๐˜๐˜‚๐—ฟ๐—ฒ

Bitcoin's proof-of-work system ๐—บ๐—ถ๐—ฟ๐—ฟ๐—ผ๐—ฟ๐˜€ ๐—ฐ๐—ฎ๐—ฝ๐—ถ๐˜๐—ฎ๐—น๐—ถ๐˜€๐—บ, which itself mirrors natural order. Participants compete by doing "honest work" to earn rewards, while the difficulty adjustment is like the increased competition that wipes out profits. This tie to free market principles gives Bitcoin an ๐˜ข๐˜ฅ๐˜ข๐˜ฑ๐˜ต๐˜ช๐˜ท๐˜ฆ ๐˜ฏ๐˜ข๐˜ต๐˜ถ๐˜ณ๐˜ฆ akin to natural selection.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฑ: ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—ถ๐˜€ ๐—–๐˜†๐—ฏ๐—ฒ๐—ฟ๐—ป๐—ฒ๐˜๐—ถ๐—ฐ ๐—Ÿ๐—ถ๐—ณ๐—ฒ

Launched into the permissionless wilds of the internet, Bitcoin is the first example of ๐˜€๐—ฒ๐—น๐—ณ-๐—ฝ๐—ฒ๐—ฟ๐—ฝ๐—ฒ๐˜๐˜‚๐—ฎ๐˜๐—ถ๐—ป๐—ด ๐—ฐ๐˜†๐—ฏ๐—ฒ๐—ฟ๐—ป๐—ฒ๐˜๐—ถ๐—ฐ ๐—น๐—ถ๐—ณ๐—ฒ, evolving dynamically through competition and automated difficulty adjustments. Like DNA passing through generations, ๐˜‰๐˜ช๐˜ต๐˜ค๐˜ฐ๐˜ช๐˜ฏ ๐˜ข๐˜ฅ๐˜ข๐˜ฑ๐˜ต๐˜ด ๐˜ด๐˜ฐ๐˜ค๐˜ช๐˜ข๐˜ญ๐˜ญ๐˜บ ๐˜ข๐˜ค๐˜ณ๐˜ฐ๐˜ด๐˜ด ๐˜ต๐˜ช๐˜ฎ๐˜ฆ, propagating its survival strategy.

And thatโ€™s it for Part 13!

Tomorrow, Iโ€™ll report my insights from Part 14, in which Michael Saylor begins reviewing the 7 layers of Bitcoinโ€™s security. The full overview will cover parts 14 ๐˜ข๐˜ฏ๐˜ฅ 15 of this series, so stay tuned for both of them!

Give this a ๐—Ÿ๐—ถ๐—ธ๐—ฒ๐Ÿค™, and ๐—•๐—ผ๐—ผ๐—ธ๐—บ๐—ฎ๐—ฟ๐—ธ๐Ÿ”– it so you can find it easily later!

And remember to ๐—ฆ๐—ต๐—ฎ๐—ฟ๐—ฒ๐Ÿ”„ it to help fall farther down the rabbit hole with you.

Wish I had said something I didnโ€™t?

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

You can find yesterdayโ€™s post here:

nostr:nevent1qqsvpyzcwztf86x4l8h2736vm5rkmnlelavwflu49ja2qvkcmx7cylcpz3mhxue69uhhyetvv9ujuerpd46hxtnfdupzqh6grf99yjqdtcnevvpmhp75wumgzsschjpn4ct8rqe98547jxl0qvzqqqqqqycx5gzh

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

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Discussion

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:

nostr:nevent1qqs8atxwtqe92rkv03aj70cwdzmaa7r3aflgt2cdg9d7wff6e66pd3qpz3mhxue69uhhyetvv9ujuerpd46hxtnfdupzqh6grf99yjqdtcnevvpmhp75wumgzsschjpn4ct8rqe98547jxl0qvzqqqqqqytwtvm6