“Prices are the coordinating force of a free market system. Each individual decision-maker can rely on the prices of goods and services to help with their decision making, as the prices themselves are a distillation of all known market information into a single metric.” – Dan Held
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Is Bitcoin’s security going to be unreliable, volatile, or could it even fail entirely when we lose the block subsidy? Or is Bitcoin set to operate smoothly with a natural transition from newly minted bitcoin, to transaction fees?
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Taking a dive into an awesome tweetstorm from @danheld about the context, purpose, and beginnings of Bitcoin and whether it meets “Satoshi’s Vision,” or if it even matters.
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As Bitcoin continues to succeed against all odds, there are more and more claims of how its “unfair” that early investors have profited. Dan Held argues in an excellent summary that Bitcoin was, and still is, the fairest distribution possible.
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Alone, and feel the charm of existence in of souls like mine. I am so happy, my dear friend.
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