Today we read an excellent article by Ben Perrin (@Btcsessions) laying out an excellent argument that reveals #BitcoinMaximalism as the meticulous and thoughtful position it actually is. Rather than the arbitrary, religious, & closed-minded position many altcoiners would want you to believe.
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We make claims about Bitcoin’s assurances all the time. It is censorship resistant, it’s open and permissionless, it’s counterfeit proof, etc. But are these things entirely true? When someone wants to acquire, use, or validate Bitcoin, how well do the claims match reality?
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Do we live in an age of liberty, where information is freely accessible, or an age of heavy-handed copyright restrictions where we are losing the ownership of the very devices we hold in our hands? If I had to judge, it’s probably a bit of both.
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Everything that defines the Bitcoin network is in the validation rules, and the nodes are its enforcers. An impenetrable fortress of validation.
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Our monetary system has confiscated trillions in resources and value by corrupting the very incentives that keep our economy healthy and resilient… in that world, what role does Bitcoin play?
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“Ralph Merkle… made the argument that Bitcoin is the first example of a new form of life. In this article series, I intend to take this claim seriously, explore it further, and see what can be gleaned from viewing Bitcoin as a living organism.”
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Today we start into an amazing and broad work that tackles the entire argument for Bitcoin, from the origins and nature of money, to the cost and value of time, by Robert Breedlove titled, “Money, Bitcoin and Time.“
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The network effects that tie society together through its community, language, and money are both incredibly powerful, and very difficult to measure. We continue with Robert Breedlove‘s broad piece covering all of the core ideas that make Bitcoin the powerful innovation it is, and detailing exactly what it is changing, with a deep historical context.
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Today we continue our journey through Robert Breedlove‘s thorough work by completing section 1 on the incredible history & profound nature of money.
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Does Bitcoin maximalism fail the test against the economics of Ludwig Von Mises & Charles Menger, both giants of the Austrian school? Have we sacrificed sound money by limiting block space?
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