Finney21 on Nostr: P01 notes session 10.9 Report: #Bitcoin First Revisited by Fidelity Digital Bitcoin ...
P01 notes session 10.9
Report: #Bitcoin First Revisited by Fidelity Digital
Bitcoin is the only digotal asset that matters. It is fundamentally different than all other digital tokens in its security and decentralization
It is not vulnerable to innovative destruction from competitors
bitcoin the asset vs Bitcoin the network
Bitcoin is best understood as a monetary good
A monetary good is a good that is valued for its tradeability for other goods, not its consumption or use
Bitcoin is superior money to gold and fiat currency based on properties of durability, divisibility, fungibility, portability, verifiability, and scarcity
Bitcoin's value is driven by its enforceable scarcity of 21 million bitcoin
Unlike gold which is relatively scarce, bitcoin is provably finite
There will only ever be 21 million bitcoin
Two key characteristics underpin the scarcity of bitcoin: decentralization & censorship resistance
Bitcoin has promising potential to be the primary monetary good for humanity
The value of a network increases exponentially as the number of its users grow
Monetary network effects are extremely powerful
Bitcoin is the first and only truly scarce digital asset ever created
Any subsequent monetary good will be reinventing the wheel. The wheel can only be invented/discovered once
21 min
Pg 1-7
#finney21 #bitcoin
Report: #Bitcoin First Revisited by Fidelity Digital
Bitcoin is the only digotal asset that matters. It is fundamentally different than all other digital tokens in its security and decentralization
It is not vulnerable to innovative destruction from competitors
bitcoin the asset vs Bitcoin the network
Bitcoin is best understood as a monetary good
A monetary good is a good that is valued for its tradeability for other goods, not its consumption or use
Bitcoin is superior money to gold and fiat currency based on properties of durability, divisibility, fungibility, portability, verifiability, and scarcity
Bitcoin's value is driven by its enforceable scarcity of 21 million bitcoin
Unlike gold which is relatively scarce, bitcoin is provably finite
There will only ever be 21 million bitcoin
Two key characteristics underpin the scarcity of bitcoin: decentralization & censorship resistance
Bitcoin has promising potential to be the primary monetary good for humanity
The value of a network increases exponentially as the number of its users grow
Monetary network effects are extremely powerful
Bitcoin is the first and only truly scarce digital asset ever created
Any subsequent monetary good will be reinventing the wheel. The wheel can only be invented/discovered once
21 min
Pg 1-7
#finney21 #bitcoin