The Nature of Bitcoin

The essence of Bitcoin can be summed up in one sentence: it’s a monetary protocol with a fixed total supply of 21 million. That’s all Bitcoin is.

All the talk about blockchain, hash encryption, distributed ledgers, etc.—these are just the technical means to ensure the integrity of that monetary protocol.

If you don’t believe in it, it’s worth less than the dog crap on the street. If you do, it has value for you. And if the whole world believes in it, then it becomes a global currency.

As for talk of financial revolution, Ponzi schemes, or wealth redistribution—those are just surface-level interpretations, subjective derivatives of an objective phenomenon. At its core, Bitcoin has always been a religion.