Digital Hard Money

After years in this space, I see Bitcoin as the concept of hard money embodied in a digital asset. Its continued existence requires agreement from decentralized nodes. Network participants agree upon the binary choice of holding and supporting Bitcoin versus everything else they could be doing with that buying power/electricity. It will ultimately use excess electricity that would have otherwise been waste energy. Bitcoin uses game theory to incentivize miners. That’s how it solved the Byzantine Generals' Problem, getting miners to maintain honest transactions.

The dogma laid down by maxi’s is founded in agreement with math rather than any human or divine entity. Satoshi may as well be Jesus—it’s all about the story and timing and how that affects the propagation of education on Bitcoin throughout humanity—that’s the network effect at play pushing the knowledge on.

Regardless of your religious or non-religious standings, Bitcoin is about the belief that truly hard money should exist. For this digital hard money to spontaneously pop into existence, enough people had to agree that it should exist and act accordingly. And since it’s decentralized ANYONE believing in it makes it continue to exist when they run nodes. You can’t kill a belief! (Very difficult to anyway…)

With a long enough time horizon and Bitcoin being ahead by the magnitude of the sun over the planets in its network effect, it has basically already won the war and will now continue to dominate because of its qualities. It certainly helps that it was the first of its kind to succeed and continues to do the job of maintaining wealth over time. Time builds confidence. Could Bitcoin fail? I know it’s unlikely to ever go away. The price could crash if confidence was shattered. It could also recover just as fast (look at the 2020 crash). The isn’t a lot of certainty in the world. Bitcoin is still the best chance humanity has at having hard money. I don’t think anything can kill it, so I tend to hitch my ride to the beast.