๐ง๐ต๐ฒ ๐ ๐ฒ๐ฐ๐ต๐ฎ๐ป๐ถ๐ฐ๐ ๐ผ๐ณ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ปโ๐ ๐ฆ๐๐ฐ๐ฐ๐ฒ๐๐ โ ๐ง๐ต๐ฒ ๐ฆ๐ฎ๐๐น๐ผ๐ฟ ๐ฆ๐ฒ๐ฟ๐ถ๐ฒ๐, ๐ฃ๐ฎ๐ฟ๐ ๐ญ๐ฎ
This is a continuation of my Saylor Series review. For Part 11, follow the link at the bottom of this post.
Yesterday, I gave you 5 insights from nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5mโs and nostr:npub15vzuezfxscdamew8rwakl5u5hdxw5mh47huxgq4jf879e6cvugsqjck4umโs discussion on fiatโs many failures, and why Bitcoin is the solution.
In todayโs review, Iโll cover 5 insights on ๐ธ๐ฉ๐บ ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏ ๐ด๐ถ๐ค๐ค๐ฆ๐ฆ๐ฅ๐ด through its conservation, authentication, hypothecation mitigation, and integrated economic incentives.
Letโs dive in๐
๐๐ป๐๐ถ๐ด๐ต๐ #๐ญ: ๐ฆ๐๐ฟ๐ผ๐ป๐ด๐ฒ๐๐ ๐ฃ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ ๐ฅ๐ถ๐ด๐ต๐๐
Bitcoin's cryptography-based ownership enforced by distributed consensus represents ๐๐ต๐ฒ ๐๐๐ฟ๐ผ๐ป๐ด๐ฒ๐๐ ๐ณ๐ผ๐ฟ๐บ๐๐น๐ฎ๐๐ถ๐ผ๐ป ๐ผ๐ณ ๐ฝ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ ๐ฟ๐ถ๐ด๐ต๐๐ ๐ถ๐ป ๐ต๐ถ๐๐๐ผ๐ฟ๐. Unlike physical assets, Bitcoin is highly durable, portable, divisible, verifiable, and resistant to censorship or seizure. Bitcoin's ease of custody and disappearance on death also create economic incentives for ๐ฑ๐ฆ๐ข๐ค๐ฆ๐ง๐ถ๐ญ conflict resolution.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฎ: ๐๐ฎ๐ฟ๐ฑ๐ฒ๐๐ ๐๐๐๐ฒ๐ ๐๐ผ ๐๐บ๐ฝ๐ฎ๐ถ๐ฟ
Of all available stores of value, ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏ ๐ช๐ด ๐ต๐ฉ๐ฆ ๐ฎ๐ฐ๐ด๐ต ๐ฅ๐ช๐ง๐ง๐ช๐ค๐ถ๐ญ๐ต ๐ต๐ฐ ๐ต๐ข๐น, ๐ฅ๐ฆ๐ด๐ต๐ณ๐ฐ๐บ, ๐ด๐ฆ๐ช๐ป๐ฆ, ๐ฐ๐ณ ๐ช๐ฎ๐ฑ๐ข๐ช๐ณ. Physical properties have associated maintenance costs, geographic constraints, and risks ranging from natural disasters to eminent domain. Commodities and securities remain exposed to hypothecation, dilution, and counterparty risk. As natively digital money, ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐บ๐ถ๐ป๐ถ๐บ๐ถ๐๐ฒ๐ ๐ฎ๐๐๐ฎ๐ฐ๐ธ ๐๐ฒ๐ฐ๐๐ผ๐ฟ๐ ๐๐ต๐ฎ๐ ๐๐ป๐ฑ๐ฒ๐ฟ๐บ๐ถ๐ป๐ฒ ๐ผ๐๐ต๐ฒ๐ฟ ๐ฎ๐๐๐ฒ๐๐.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฏ: ๐ ๐ถ๐๐ถ๐ด๐ฎ๐๐ถ๐ป๐ด ๐๐๐ฝ๐ผ๐๐ต๐ฒ๐ฐ๐ฎ๐๐ถ๐ผ๐ป
By enabling users to personally control assets without centralized intermediaries, ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ฟ๐ฒ๐ฑ๐๐ฐ๐ฒ๐ ๐ฟ๐ฒ๐น๐ถ๐ฎ๐ป๐ฐ๐ฒ ๐ผ๐ป ๐ณ๐ฟ๐ฎ๐ด๐ถ๐น๐ฒ ๐๐ฟ๐๐๐ ๐๐๐๐๐ฒ๐บ๐ ๐๐ต๐ฎ๐ ๐ณ๐ฎ๐ถ๐น ๐ฑ๐๐ฒ ๐๐ผ ๐ณ๐ฟ๐ฎ๐๐ฑ ๐ผ๐ฟ ๐ถ๐ป๐๐ผ๐น๐๐ฒ๐ป๐ฐ๐. Inherently, Bitcoin limits hypothetical ownership claims that do not match actual holdings. When withdrawals reveal such mismatches, short squeezes ensue against malfeasant counterparties. Thus, Bitcoin's architecture ๐ฑ๐ถ๐ฏ๐ช๐ด๐ฉ๐ฆ๐ด rather than enables hypothecation.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฐ: ๐๐๐ฏ๐ฒ๐ฟ๐๐ฝ๐ฎ๐ฐ๐ฒ ๐ฆ๐ฒ๐ฐ๐๐ฟ๐ถ๐๐
๐๐ข๐ณ from abetting cybercrime, Bitcoin represents a key solution through its inherent need for transaction fees and ability to lock value into deposits. Malicious activities ranging from email spam to denial of service attacks ๐ฝ๐ฟ๐ฒ๐๐ฒ๐ป๐๐น๐ ๐ฐ๐ฎ๐ฟ๐ฟ๐ ๐ป๐ผ ๐ฐ๐ผ๐๐๐. Requiring even tiny satoshi payments would ๐ณ๐ข๐ฅ๐ช๐ค๐ข๐ญ๐ญ๐บ reduce online fraud.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฑ: ๐ฃ๐ฟ๐ผ๐ฏ๐ฎ๐ฏ๐ถ๐น๐ถ๐๐๐ถ๐ฐ ๐ฃ๐ฟ๐ผ๐ด๐ฟ๐ฒ๐๐
๐๐ฐ ๐ต๐ฆ๐ค๐ฉ๐ฏ๐ฐ๐ญ๐ฐ๐จ๐บ ๐ข๐ฅ๐ฐ๐ฑ๐ต๐ช๐ฐ๐ฏ ๐ฑ๐ฆ๐ณ๐ง๐ฆ๐ค๐ต๐ญ๐บ ๐ง๐ฐ๐ญ๐ญ๐ฐ๐ธ๐ด ๐ข ๐ด๐ฎ๐ฐ๐ฐ๐ต๐ฉ ๐ค๐ถ๐ณ๐ท๐ฆ, but proceeds unevenly through multiple boom and bust cycles. Given Bitcoin's profound economic implications, entirely replacing fiat monetary regimes will likely take at least another decade, absent a civilization-scale conflict or crisis scenario accelerating a systemic shift. Bitcoin, however, becomes ๐บ๐ผ๐ฟ๐ฒ ๐๐ป๐๐๐ผ๐ฝ๐ฝ๐ฎ๐ฏ๐น๐ฒ ๐ฑ๐ฎ๐ถ๐น๐ as understanding spreads.
And thatโs it for Part 12! Bitcoin is ๐ฎ๐ช๐ฏ๐ฅ-๐ฃ๐ญ๐ฐ๐ธ๐ช๐ฏ๐จ, isnโt it?
Tomorrow, Iโll cover 5 insights from Part 13 of the Saylor series, in which Michael Saylor expounds on the ways that Bitcoin promotes ๐ฏ๐ฐ๐ฏ๐ท๐ช๐ฐ๐ญ๐ฆ๐ฏ๐ต ๐ค๐ฐ๐ฏ๐ง๐ญ๐ช๐ค๐ต ๐ณ๐ฆ๐ด๐ฐ๐ญ๐ถ๐ต๐ช๐ฐ๐ฏ and serves as a cleansing technology for civilization.
Be sure to ๐๐ถ๐ธ๐ฒ๐ค and ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ this if it brought you value.
And ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ it so others can find value in it, too.
Is there something you wish I had said here in my insights?
Share it in the ๐๐ผ๐บ๐บ๐ฒ๐ป๐๐โฌ๏ธ
Yesterdayโs post can be found here:
