๐๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ถ๐ ๐๐๐ผ๐น๐๐๐ถ๐ผ๐ป๐ฎ๐ฟ๐ ๐ ๐ผ๐ป๐ฒ๐ โ ๐ง๐ต๐ฒ ๐ฆ๐ฎ๐๐น๐ผ๐ฟ ๐ฆ๐ฒ๐ฟ๐ถ๐ฒ๐, ๐ฃ๐ฎ๐ฟ๐ ๐ญ๐ฒ
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 Bitcoinโs security.
Today, my insights will come from Michael Saylorโs comments on Bitcoinโs ability to ๐ฆ๐ท๐ฐ๐ญ๐ท๐ฆ as monetary technology.
Read more below๐

๐๐ป๐๐ถ๐ด๐ต๐ #๐ญ: ๐๐ฎ๐๐ฒ๐ฟ ๐ฎ ๐๐ป๐ฎ๐ฏ๐น๐ฒ๐ ๐ฆ๐ฐ๐ฎ๐น๐ฒ
The Bitcoin base layer secures digital property but is ๐น๐ถ๐บ๐ถ๐๐ฒ๐ฑ ๐ถ๐ป ๐๐ฐ๐ฎ๐น๐ฎ๐ฏ๐ถ๐น๐ถ๐๐. Lightning and other layer 2 protocols enable transactions to occur with much greater speed and volume by settling payment channels off-chain, ๐ธ๐ฉ๐ช๐ญ๐ฆ ๐ด๐ต๐ช๐ญ๐ญ ๐ญ๐ฆ๐ท๐ฆ๐ณ๐ข๐จ๐ช๐ฏ๐จ ๐ต๐ฉ๐ฆ ๐ด๐ฆ๐ค๐ถ๐ณ๐ช๐ต๐บ ๐ฐ๐ง ๐ต๐ฉ๐ฆ ๐ถ๐ฏ๐ฅ๐ฆ๐ณ๐ญ๐บ๐ช๐ฏ๐จ ๐ฃ๐ญ๐ฐ๐ค๐ฌ๐ค๐ฉ๐ข๐ช๐ฏ. Layer 2 solutions improve network performance, and the use of Bitcoin itself to stake and secure these higher layers allows for ๐ฆ๐น๐ฑ๐ฐ๐ฏ๐ฆ๐ฏ๐ต๐ช๐ข๐ญ ๐จ๐ข๐ช๐ฏ๐ด in transaction capacity.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฎ: ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐๐ฝ๐ฝ๐น๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป๐ ๐๐ ๐ฝ๐ฎ๐ป๐ฑ ๐ฅ๐ฒ๐ฎ๐ฐ๐ต
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 ๐ฎ๐ป๐ผ๐๐ต๐ฒ๐ฟ ๐ฑ๐ถ๐บ๐ฒ๐ป๐๐ถ๐ผ๐ป along which Bitcoin can scale.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฏ: ๐ก๐ฒ๐๐ฒ๐ฟ-๐๐ป๐ฑ๐ถ๐ป๐ด ๐๐๐ผ๐น๐๐๐ถ๐ผ๐ป
Bitcoin mining does not stand still, but ๐ฆ๐ท๐ฐ๐ญ๐ท๐ฆ๐ด ๐ฑ๐ฆ๐ณ๐ฑ๐ฆ๐ต๐ถ๐ข๐ญ๐ญ๐บ 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 ๐ฐ๐ผ๐ป๐๐๐ฎ๐ป๐ ๐ฒ๐ป๐ต๐ฎ๐ป๐ฐ๐ฒ๐บ๐ฒ๐ป๐๐ ๐ถ๐ป ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป'๐ ๐๐ฒ๐ฐ๐๐ฟ๐ถ๐๐, and represents a key advantage over alternative consensus models.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฐ: ๐ฆ๐๐ฟ๐๐ถ๐๐ฎ๐น ๐ผ๐ณ ๐๐ต๐ฒ ๐๐ถ๐๐๐ฒ๐๐
Bitcoin miners must be technically savvy and financially disciplined to continually reinvest revenues into better hardware and infrastructure. ๐ง๐ต๐ฒ ๐๐๐๐๐ฒ๐บ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น๐น๐ ๐ฝ๐๐ป๐ถ๐๐ต๐ฒ๐ ๐ถ๐ป๐ฒ๐ณ๐ณ๐ถ๐ฐ๐ถ๐ฒ๐ป๐ ๐ผ๐ฟ ๐๐๐ฎ๐ด๐ป๐ฎ๐ป๐ ๐บ๐ถ๐ป๐ฒ๐ฟ๐ by progressively squeezing them off the network. This survival-of-the-fittest dynamic aligns control with those who are ๐ฎ๐ฐ๐ด๐ต ๐ค๐ฐ๐ฎ๐ฑ๐ฆ๐ต๐ฆ๐ฏ๐ต in their stewardship of network security.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฑ: ๐ฆ๐๐ป๐ฒ๐ฟ๐ด๐ ๐ผ๐ณ ๐ ๐ผ๐ป๐ฒ๐'๐ ๐๐๐ป๐ฑ๐ฎ๐บ๐ฒ๐ป๐๐ฎ๐น๐
Bitcoin fuses together many important qualities to be sound money: the ๐ฆ๐ฏ๐ฆ๐ณ๐จ๐บ it uses represents work and real-world resource costs; ๐ข๐ฅ๐ท๐ข๐ฏ๐ค๐ฆ๐ฅ ๐ต๐ฆ๐ค๐ฉ๐ฏ๐ฐ๐ญ๐ฐ๐จ๐บ reflects human ingenuity and productivity; ๐ง๐ช๐ฏ๐ข๐ฏ๐ค๐ช๐ข๐ญ ๐ฅ๐ฆ๐ฑ๐ต๐ฉ enables mobility and flexibility; ๐ฏ๐ฆ๐ต๐ธ๐ฐ๐ณ๐ฌ๐ฆ๐ฅ ๐ฅ๐ช๐ด๐ต๐ณ๐ช๐ฃ๐ถ๐ต๐ช๐ฐ๐ฏ enables censorship-resistance; and ๐ด๐ฑ๐ข๐ต๐ช๐ข๐ญ ๐ข๐ฏ๐ฅ ๐ต๐ฆ๐ฎ๐ฑ๐ฐ๐ณ๐ข๐ญ ๐ฅ๐ฆ๐ค๐ฆ๐ฏ๐ต๐ณ๐ข๐ญ๐ช๐ป๐ข๐ต๐ช๐ฐ๐ฏ keeps it all secure. Combining these integral elements creates ๐ฎ ๐บ๐ผ๐ป๐ฒ๐๐ฎ๐ฟ๐ ๐ป๐ฒ๐๐๐ผ๐ฟ๐ธ ๐ด๐ฟ๐ฒ๐ฎ๐๐ฒ๐ฟ ๐๐ต๐ฎ๐ป ๐๐ต๐ฒ ๐๐๐บ ๐ผ๐ณ ๐ถ๐๐ ๐ฝ๐ฎ๐ฟ๐๐.

Thatโs all for Part 16. ๐ข๐ก๐๐ฌ ๐ญ ๐ ๐ข๐ฅ๐ ๐๐๐๐ง! ๐คฏ
Tomorrow, in the ๐๐๐ฃ๐๐ก 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 ๐ด๐น๐ผ๐ฏ๐ฎ๐น ๐ฎ๐ฑ๐ผ๐ฝ๐๐ถ๐ผ๐ป.
Remember to click ๐๐ถ๐ธ๐ฒ๐ค, and create a ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ of this Saylor Series post, so you can collect them all!
And then ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ this with others, too!
Have any other insights?
Share them in the ๐๐ผ๐บ๐บ๐ฒ๐ป๐๐โฌ๏ธ
Last Fridayโs post can be found here:



