š§ Fundamentals of Bitcoin: Money, Technology, and Narrative
š° 1. Monetary Fundamentals
ā¢ Limited supply: Only 21 million of #BTC will exist. More than 90% are already in circulation.
ā¢ Halving: Every ~4 years, the reward for mining is cut in half, slowing down issuance.
ā¢ Predictable monetary policy: No central banks, no arbitrary inflation.
ā¢ Store of value narrative: Positioned as "digital gold" against inflationary fiat currencies.
š 2. Technological Fundamentals
ā¢ Blockchain: Public, immutable, and decentralized ledger.
ā¢ Proof of work (PoW): Security based on computational power.
ā¢ Cryptography: Public/private keys, digital signatures (ECDSA).
ā¢ Nodes and mining: Anyone can participate, validate, and secure the network.
ā¢ Key updates: Taproot, SegWit, Lightning Network for scalability and privacy.
š 3. Adoption Fundamentals
ā¢ Global P2P network: No borders, no intermediaries.
ā¢ Resilience to attacks, censorship, and bubbles: Mt. Gox, Silk Road, bans... and still alive.
ā¢ Radical transparency: Open source, visible balances, pseudonymity.
ā¢ Institutional adoption: Companies, governments, and funds integrate it as a strategic asset.
š§ 4. Philosophical Narrative
ā¢ Satoshi Nakamoto: The anonymous creator who released the whitepaper in 2008.
ā¢ Sovereign money: Bitcoin represents an alternative to the traditional banking system.
ā¢ Byzantine generals problem: Solved with decentralized consensus.
ā¢ Anti-censorship narrative: No one can stop a valid transaction.
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