๐๐ผ๐น๐ฑโ๐ ๐๐ฒ๐ฎ๐๐ต, ๐๐ถ๐๐ฐ๐ผ๐ถ๐ปโ๐ ๐๐ถ๐ฟ๐๐ต โ ๐ง๐ต๐ฒ ๐ฆ๐ฎ๐๐น๐ผ๐ฟ ๐ฆ๐ฒ๐ฟ๐ถ๐ฒ๐, ๐ฃ๐ฎ๐ฟ๐ ๐ญ๐ฌ
This continues my list of insights from the Saylor Series.
For Part 9, follow the link at the bottom of this post.
Yesterday, I gave you 5 insights from nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5mโs discussion with nostr:npub15vzuezfxscdamew8rwakl5u5hdxw5mh47huxgq4jf879e6cvugsqjck4um, on a variety of economic and philosophical wisdom.
In todayโs review, Saylor explains that Bitcoin represents a shift from politically engineered money like gold or fiat, to ๐ด๐ค๐ช๐ฆ๐ฏ๐ต๐ช๐ง๐ช๐ค๐ข๐ญ๐ญ๐บ ๐ฆ๐ฏ๐จ๐ช๐ฏ๐ฆ๐ฆ๐ณ๐ฆ๐ฅ money with its immutable and mathematically verifiable ledger.
Read on for more๐
๐๐ป๐๐ถ๐ด๐ต๐ #๐ญ: ๐ง๐ต๐ฒ ๐๐ถ๐ด๐ถ๐๐ฎ๐น ๐ ๐ผ๐ป๐ฒ๐ ๐ฃ๐ฎ๐ฟ๐ฎ๐ฑ๐ถ๐ด๐บ ๐ฆ๐ต๐ถ๐ณ๐
Bitcoin represents ๐ต๐ฉ๐ฆ ๐ง๐ช๐ณ๐ด๐ต ๐ช๐ฏ๐ค๐ข๐ณ๐ฏ๐ข๐ต๐ช๐ฐ๐ฏ ๐ฐ๐ง ๐ฅ๐ช๐จ๐ช๐ต๐ข๐ญ ๐ฎ๐ฐ๐ฏ๐ฆ๐บ, marking a monumental paradigm shift in how we conceptualize and understand the nature of money. With Bitcoin, money takes on a digital, decentralized, and cryptographically-secured essence, bringing with it programmability and verifiability. Bitcoin's creation highlights the ๐ฑ๐ถ๐๐ฟ๐๐ฝ๐๐ถ๐๐ฒ and ๐๐ฟ๐ฎ๐ป๐๐ณ๐ผ๐ฟ๐บ๐ฎ๐๐ถ๐๐ฒ nature of this new form of internet-native money.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฎ: ๐ ๐ผ๐ป๐ฒ๐ ๐ฎ๐ ๐ง๐ผ๐ธ๐ฒ๐ป๐ถ๐๐ฒ๐ฑ ๐๐ป๐ฒ๐ฟ๐ด๐
Money can be understood as ๐๐ผ๐ธ๐ฒ๐ป๐ถ๐๐ฒ๐ฑ ๐ฒ๐ป๐ฒ๐ฟ๐ด๐ within a socio-political context. While the tokenization quantifies the energy, the socio-political layer influences money's subjective value based on social consensus. This model helps illustrate money's blended essence โ ๐ฑ๐ข๐ณ๐ต ๐ฎ๐ฆ๐ข๐ด๐ถ๐ณ๐ข๐ฃ๐ญ๐ฆ ๐ถ๐ฏ๐ช๐ต, ๐ฑ๐ข๐ณ๐ต ๐ด๐ถ๐ฃ๐ซ๐ฆ๐ค๐ต๐ช๐ท๐ฆ ๐ท๐ข๐ญ๐ถ๐ข๐ต๐ช๐ฐ๐ฏ.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฏ: ๐ง๐ต๐ฒ ๐๐ฑ๐ฒ๐ฎ๐น ๐ ๐ผ๐ป๐ฒ๐ ๐ ๐ผ๐ฑ๐ฒ๐น
Ideal money has three key criteria: Itโs ๐๐ต๐ฎ๐ฟ๐ฒ๐ฑ, itโs ๐ถ๐บ๐บ๐๐๐ฎ๐ฏ๐น๐ฒ, and itโs ๐บ๐ฎ๐๐ต๐ฒ๐บ๐ฎ๐๐ถ๐ฐ๐ฎ๐น๐น๐ ๐ฐ๐ผ๐ฟ๐ฟ๐ฒ๐ฐ๐. Scientific principles and programmable engineering are essential for determining Bitcoin's soundness as the premier form of ideal money. This model for money provides a robust method for assessing and comparing monetary networks, so you can easily identify the ideal one.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฐ: ๐๐ผ๐ถ๐ป ๐ก๐ฒ๐๐๐ผ๐ฟ๐ธ ๐๐ต๐ฎ๐น๐น๐ฒ๐ป๐ด๐ฒ๐
Historical coin-based monetary networks faced limitations such as discrete and inorganic scales, susceptibility to counterfeiting, and friction caused by third-party money changers. These inefficiencies posed challenges for trading across borders and territories, ๐ผ๐ณ๐๐ฒ๐ป ๐น๐ฒ๐ฎ๐ฑ๐ถ๐ป๐ด ๐๐ผ ๐ถ๐ป๐๐ฒ๐ฟ๐ป๐ฎ๐๐ถ๐ผ๐ป๐ฎ๐น ๐ฐ๐ผ๐ป๐ณ๐น๐ถ๐ฐ๐๐. Bitcoin addresses these endemic problems through its digital, decentralized, and verifiable design.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฑ: ๐๐ผ๐น๐ฑโ๐ ๐๐ถ๐บ๐ถ๐๐ฎ๐๐ถ๐ผ๐ป๐
Gold is subject to confiscation due to its physical nature and custody requirements. Security costs scale ๐ฆ๐น๐ฑ๐ฐ๐ฏ๐ฆ๐ฏ๐ต๐ช๐ข๐ญ๐ญ๐บ based on quantity stored, which prevents gold from becoming a truly shared ledger. The gold standard was also mathematically unsound, since its supply was not a closed system, so it was subject to growth and disruption. For these reasons, ๐ด๐ผ๐น๐ฑ ๐ณ๐ฎ๐น๐น๐ ๐๐ต๐ผ๐ฟ๐ ๐ผ๐ณ ๐ฏ๐ฒ๐ถ๐ป๐ด ๐ถ๐ฑ๐ฒ๐ฎ๐น ๐บ๐ผ๐ป๐ฒ๐.
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Thatโs all for Part 10! Mind-blowing stuff, isnโt it?
Weโll review Part 11 on Monday, in which Iโll share insights about the weaknesses inherent in fiat currency, and why Bitcoin is a more reliable and sustainable form of money in the modern era.
Make sure you ๐๐ถ๐ธ๐ฒ๐ค and ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ this if it was useful to you.
And ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ it with those who might find it useful, too.
What insights from this episode do you wish I had mentioned, but didnโt?
Share them in the ๐๐ผ๐บ๐บ๐ฒ๐ป๐๐โฌ๏ธ
If you missed yesterday's post, you can find it here:
