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

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

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Discussion

๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ปโ€™๐˜€ ๐—ฃ๐—ฎ๐˜๐—ต ๐˜๐—ผ ๐—š๐—น๐—ผ๐—ฏ๐—ฎ๐—น ๐—”๐—ฑ๐—ผ๐—ฝ๐˜๐—ถ๐—ผ๐—ป โ€” ๐—ง๐—ต๐—ฒ ๐—ฆ๐—ฎ๐˜†๐—น๐—ผ๐—ฟ ๐—ฆ๐—ฒ๐—ฟ๐—ถ๐—ฒ๐˜€, ๐—ฃ๐—ฎ๐—ฟ๐˜ ๐Ÿญ๐Ÿณ

This ๐™˜๐™ค๐™ฃ๐™˜๐™ก๐™ช๐™™๐™š๐™จ my review of the Saylor Series! For Part 16, follow the link at the bottom of this post.

Yesterdayโ€™s insights focused on nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5mโ€™s explanation to nostr:npub15vzuezfxscdamew8rwakl5u5hdxw5mh47huxgq4jf879e6cvugsqjck4um on some ways that #Bitcoin can evolve as money, since itโ€™s ultimately a technology.

Today, in my ๐—ณ๐—ถ๐—ป๐—ฎ๐—น insights on the Saylor Series, I'll show why Bitcoin provides ๐˜ต๐˜ฉ๐˜ฆ ๐˜ช๐˜ฅ๐˜ฆ๐˜ข๐˜ญ ๐˜ฃ๐˜ข๐˜ด๐˜ฆ ๐˜ญ๐˜ข๐˜บ๐˜ฆ๐˜ณ for decentralized digital commerce that can scale globally across industries, to enable more efficient, trustworthy, and mutually beneficial societal coordination.

Read more below๐Ÿ‘‡

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿญ: ๐—™๐—ถ๐—ฟ๐˜€๐˜ ๐— ๐—ผ๐˜ƒ๐—ฒ๐—ฟ ๐—”๐—ฑ๐˜ƒ๐—ฎ๐—ป๐˜๐—ฎ๐—ด๐—ฒ

There are competitive incentives for entities across sectors to integrate Bitcoin early. This ๐—ณ๐—ถ๐—ฟ๐˜€๐˜ ๐—บ๐—ผ๐˜ƒ๐—ฒ๐—ฟ ๐—ฎ๐—ฑ๐˜ƒ๐—ฎ๐—ป๐˜๐—ฎ๐—ด๐—ฒ allows cities, states, banks, corporations, and others to establish market dominance. Just like early pioneers who claimed much land and resources in America, ๐˜ฆ๐˜ข๐˜ณ๐˜ญ๐˜บ ๐˜‰๐˜ช๐˜ต๐˜ค๐˜ฐ๐˜ช๐˜ฏ ๐˜ข๐˜ฅ๐˜ฐ๐˜ฑ๐˜ต๐˜ช๐˜ฐ๐˜ฏ ๐˜ข๐˜ค๐˜ค๐˜ณ๐˜ถ๐˜ฆ๐˜ด ๐˜ฅ๐˜ช๐˜ด๐˜ฑ๐˜ณ๐˜ฐ๐˜ฑ๐˜ฐ๐˜ณ๐˜ต๐˜ช๐˜ฐ๐˜ฏ๐˜ข๐˜ต๐˜ฆ ๐˜ฃ๐˜ฆ๐˜ฏ๐˜ฆ๐˜ง๐˜ช๐˜ต๐˜ด.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฎ: ๐—•๐—ผ๐—ผ๐˜๐˜€๐˜๐—ฟ๐—ฎ๐—ฝ ๐—ฌ๐—ผ๐˜‚๐—ฟ ๐—•๐—ฎ๐—น๐—ฎ๐—ป๐—ฐ๐—ฒ ๐—ฆ๐—ต๐—ฒ๐—ฒ๐˜

Bitcoin provides a novel way to capitalize balance sheets. Corporations can issue debt to buy Bitcoin and capture the spread between Bitcoin's appreciation and their low bond interest rates. ๐—ง๐—ต๐—ถ๐˜€ ๐—ฟ๐—ฒ๐—ฝ๐—ผ๐˜€๐—ถ๐˜๐—ถ๐—ผ๐—ป๐˜€ ๐˜๐—ต๐—ฒ๐—บ ๐—ฎ๐˜€ ๐˜๐—ฒ๐—ฐ๐—ต ๐—ฐ๐—ผ๐—บ๐—ฝ๐—ฎ๐—ป๐—ถ๐—ฒ๐˜€ with multiples far higher than as sleepy utilities.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฏ: ๐—›๐—ฎ๐—ฟ๐—ฑ๐˜„๐—ฎ๐—ฟ๐—ฒ ๐—›๐—ผ๐—ผ๐—ธ๐˜€

Wallets, nodes, and miners demonstrate Bitcoin's integration directly into hardware devices. But ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—บ๐—ถ๐—ป๐—ถ๐—ป๐—ด ๐—ฎ๐—ป๐—ฑ ๐˜€๐˜‚๐—ฝ๐—ฝ๐—ผ๐—ฟ๐˜ ๐—ฐ๐—ฎ๐—ป ๐—ฏ๐—ฒ ๐—ฏ๐˜‚๐—ถ๐—น๐˜ ๐—ถ๐—ป๐˜๐—ผ ๐—ฎ๐—น๐—บ๐—ผ๐˜€๐˜ ๐—ฎ๐—ป๐˜† ๐—ฎ๐—ฝ๐—ฝ๐—น๐—ถ๐—ฎ๐—ป๐—ฐ๐—ฒ ๐˜ƒ๐—ถ๐—ฎ ๐—ณ๐—ถ๐—ฟ๐—บ๐˜„๐—ฎ๐—ฟ๐—ฒ ๐—ฎ๐—ป๐—ฑ ๐˜€๐—ผ๐—ณ๐˜๐˜„๐—ฎ๐—ฟ๐—ฒ. This differentiation incentive drives adoption across smart devices and the Internet of Things.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฐ: ๐—ฆ๐—ผ๐—ฐ๐—ถ๐—ฎ๐—น ๐— ๐—ฒ๐—ฑ๐—ถ๐—ฎ ๐—–๐—ถ๐˜ƒ๐—ถ๐—น๐—ถ๐˜๐˜†

Proof of work originated as an anti-spam mechanism. Similarly, ๐˜‰๐˜ช๐˜ต๐˜ค๐˜ฐ๐˜ช๐˜ฏ'๐˜ด ๐˜ฑ๐˜ณ๐˜ฐ๐˜จ๐˜ณ๐˜ข๐˜ฎ๐˜ฎ๐˜ข๐˜ฃ๐˜ญ๐˜ฆ ๐˜ฅ๐˜ช๐˜จ๐˜ช๐˜ต๐˜ข๐˜ญ ๐˜ด๐˜ค๐˜ข๐˜ณ๐˜ค๐˜ช๐˜ต๐˜บ ๐˜ค๐˜ข๐˜ฏ ๐˜จ๐˜ณ๐˜ข๐˜ฏ๐˜ต ๐˜ท๐˜ฆ๐˜ณ๐˜ช๐˜ง๐˜ช๐˜ฆ๐˜ฅ ๐˜ด๐˜ต๐˜ข๐˜ต๐˜ถ๐˜ด ๐˜ต๐˜ฐ ๐˜ณ๐˜ฆ๐˜ข๐˜ญ ๐˜ฉ๐˜ถ๐˜ฎ๐˜ข๐˜ฏ๐˜ด. Social platforms can require Bitcoin security deposits to post content. This raises the costs for bots, scams, and trolls โ€” leading to ๐˜ด๐˜ข๐˜ง๐˜ฆ๐˜ณ, ๐˜ฉ๐˜ช๐˜จ๐˜ฉ๐˜ฆ๐˜ณ ๐˜ฒ๐˜ถ๐˜ข๐˜ญ๐˜ช๐˜ต๐˜บ ๐˜ฆ๐˜ฏ๐˜จ๐˜ข๐˜จ๐˜ฆ๐˜ฎ๐˜ฆ๐˜ฏ๐˜ต.

๐—œ๐—ป๐˜€๐—ถ๐—ด๐—ต๐˜ #๐Ÿฑ: ๐—ฆ๐—ฒ๐˜๐˜๐—น๐—ฒ๐—บ๐—ฒ๐—ป๐˜ ๐—Ÿ๐—ฎ๐˜†๐—ฒ๐—ฟ

While Lightning handles retail volumes, Bitcoinโ€™s base layer settlement network enables clearance of large interbank and international wholesale transaction batches. Corporate treasurers can bypass archaic wire protocols and directly plug into other institutions โ€” ๐—บ๐—ผ๐˜ƒ๐—ถ๐—ป๐—ด ๐—บ๐—ถ๐—น๐—น๐—ถ๐—ผ๐—ป๐˜€ ๐˜๐—ผ ๐™—๐™ž๐™ก๐™ก๐™ž๐™ค๐™ฃ๐™จ ๐˜€๐—ฒ๐—ฎ๐—บ๐—น๐—ฒ๐˜€๐˜€๐—น๐˜† ๐—ผ๐—ป ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป'๐˜€ ๐—ฏ๐—น๐—ผ๐—ฐ๐—ธ๐—ฐ๐—ต๐—ฎ๐—ถ๐—ป.

๐˜ผ๐™ฃ๐™™ ๐™ฉ๐™๐™–๐™ฉโ€™๐™จ ๐™ž๐™ฉ! ๐˜›๐˜ฉ๐˜ฆ ๐˜š๐˜ข๐˜บ๐˜ญ๐˜ฐ๐˜ณ ๐˜š๐˜ฆ๐˜ณ๐˜ช๐˜ฆ๐˜ด ๐˜ช๐˜ด ๐˜ฟ๐™Š๐™‰๐™€!๐ŸŽ‰

While these insights give you a good overview of the topics discussed in these 17 episodes of the ๐˜ž๐˜ฉ๐˜ข๐˜ต ๐˜๐˜ด ๐˜”๐˜ฐ๐˜ฏ๐˜ฆ๐˜บ ๐˜š๐˜ฉ๐˜ฐ๐˜ธ, they can never replace the show itself.

Go follow that show, and watch or listen to the whole Saylor Series from the beginning. It will take you a while, but it will be time well-spent!

Be sure to ๐—Ÿ๐—ถ๐—ธ๐—ฒ๐Ÿค™ this, and ๐—•๐—ผ๐—ผ๐—ธ๐—บ๐—ฎ๐—ฟ๐—ธ๐Ÿ”– it and all the others, so they will always be available to you as a quick guide.

And then ๐—ฆ๐—ต๐—ฎ๐—ฟ๐—ฒ๐Ÿ”„ this (and all the other parts), so others can read them, too.

Have any of your own insights that I didn't include?

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

You can find yesterdayโ€™s post here:

nostr:nevent1qqsdkhw8dw03zxwxxvgdn7aklya8nqhatzn6ja0wj9ywwldku08k94qpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygzlfqdy55jgp40z093s8wu863mndq2zrz7gxwhpvuvry57jh6gmaupsgqqqqqqs4c54v9