Bitcoin: a decentralized digital monetary system and programmable base layer.

Onchain micropayments are expensive so Lightning and other layers fulfill the cash utility.

The importance of a conservative base layer has been recognized, scaling has been outsourced off chain.

Segregated Witness and Taproot soft forks increased security, privacy, and functionality.

With functionality comes use cases and controversy over proper use of block space.

Mining has centralized into professional operations; without a specialized computer you stand little chance of success and even with a whole fleet the odds are stacked against you.

As the block reward keeps halving bitcoin is transitioning toward fee based security.

17 years of bitcoin transactions still fit on less than 1 terabyte.

Chain analysis and privacy tools have symbiotically fueled each other’s advances.

Bitcoin evolves slow and reacts quickly controversy is a feature not a bug. Consensus comes after deliberate discussion.

Bitcoin still shares so much with its visionary proposal, but now it holds historical proof.

What did it become? More.

In the doldrums of doomer sentiment I remain with hint of quiet triumph. The dream hasn’t failed; it’s hardening into reality.

If the white paper was a seed then we’ve only glimpsed the sapling of the tree it will become; change is uncomfortable, but it turns out how it’s always meant to be.