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