Bitcoin: Have we learned anything since the last all-time high?

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Bitcoin's monetary policy is an innovation built into its code. It is a fascinating software protocol, not a god to be worshiped. Those who argue that a change in value is an unlikely event, less likely than an asteroid sweeping the Earth, still do not understand that ultimately we are talking about money.

Bitcoin depends on keeping miners happy. If that requires changing the code, to increase the block reward, it will happen. But Bitcoiners like to pretend this is an unlikely event, like an asteroid hitting Earth.

But it's not like that. Like any good, Bitcoin depends on keeping users happy. The miners will mine the string that the users want to use. Miners could switch to a chain that gives them 1000 "bitcoins" per block, but no one would use it, so those 1000 "bitcoins" would be worthless.

Yet there are still people doing exact "thought experiments", which were first discussed ad nauseam in 2013, then tested in real life in 2017, and here we are in 2020 with a new crop of rookies saying " I know how to break bitcoin. " And, no, you don't know anything. Read a lot of things first, really.

Regulation and Society adoption

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