Key Points Post-Mining Miner Rewards: After all 21 million bitcoins are mined, miners will no longer receive block rewards (new bitcoins) and will rely solely on transaction fees for compensation, making network security dependent on a strong, active Bitcoin economy. Factors Affecting Transaction Fees: Transaction fees may increase due to

Key Points Bitcoin as Public Infrastructure: Bitcoin operates as a decentralized, open-access network that is globally neutral, with shared security maintained by miners and nodes. It allows permissionless participation, resembling public infrastructure like roads or the internet. Bitcoin as Private Infrastructure: Despite its public-facing attributes, Bitcoin exhibits private infrastructure characteristics,

Key Points Regulatory and Legal Actions: The U.S. government could attempt to shut down Bitcoin by imposing regulations that restrict its use, such as banning Bitcoin transactions, targeting mining operations, and regulating exchanges with strict KYC/AML requirements. Legal actions like criminal prosecutions and civil forfeiture could also be used to

Key Points Legal and Coercive Methods: Governments can seize Bitcoin through court orders, civil forfeiture, criminal charges, and legal coercion, compelling individuals to disclose private keys or hand over Bitcoin holdings under threat of legal penalties. Physical Confiscation of Devices: Bitcoin can be seized by confiscating physical devices (e.g., hardware

Key Points Blockchain Analysis and Address Clustering: Governments track Bitcoin transactions by analyzing the public ledger, creating transaction graphs, and using blockchain analysis tools to group addresses that likely belong to the same user, uncovering patterns of illicit activity. Linking to Real-World Identities: Authorities can deanonymize users by cross-referencing blockchain

Key Points Essay Why Bitcoin is Censorship-Resistant Bitcoin, the world’s first decentralized cryptocurrency, was designed to operate independently of governments and central authorities. A defining feature of Bitcoin is its censorship resistance, which means transactions cannot be arbitrarily blocked, reversed, or manipulated by any single entity. This quality stems from

Key Points Essay Why a Reserve Currency Requires a Stable and Fair Legal System The concept of a reserve currency, a currency held by central banks and financial institutions as part of their foreign exchange reserves, is central to the functioning of the global economy. A reserve currency plays a

Key Points Potential as a Store of Value: Bitcoin has several qualities that support its potential as a store of value, including its limited supply (capped at 21 million coins), decentralization, and global accessibility, which make it resistant to inflation and government control. Volatility: Bitcoin’s high volatility is a major

Key Points Essay Bitcoin’s price is influenced by a variety of factors, and while it is sometimes seen as a hedge against inflation, its relationship with inflation is not straightforward. Here’s an analysis: 1. Bitcoin as an Inflation Hedge 2. Price Correlation with Inflation Bitcoin’s price is not directly reflective