“ It might make sense to get some, in case it catches on.” - Satoshi Nakamoto
Money is, in its essence, a technology for human coordination. The technology of money is not fully optimized, as there is a foundational design flaw in the current fiat money system. That flaw is trust. Users must trust the central authority will not dilute or debase the money for political purposes, eroding productive output stored in that money. Trust must be removed for a truly sound money system.
Bitcoin is a money system that mitigates the need for trust. It is the world's first successful implementation of digital scarcity offering the highest degree of trust minimization, whilst providing the highest degree of security to uphold it’s universally honest ledger. Ten years after it’s inception, Bitcoin is now the reserve currency of the internet and the protocol to build the internet of value moving forward. The macro value proposition of Bitcoin today is in its offering as an asymmetric hedge against the global fiat money system.
The long term value proposition of Bitcoin, is in the plausibility that a single digit percentile of global wealth migrates to the Bitcoin network. Such an event would be the largest transfer of wealth in human history, and in turn be the largest wealth creation event of our time. As this is a possible outcome I believe it is critically important to accrue an understanding of this technology. I have been closely studying the technology of Bitcoin since I discovered it in 2013. I have created this website to share my knowledge.
- Eric Savics