WHAT IS BITCOIN?
"I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party"
Satoshi Nakamoto published the bitcoin white paper 31st October 2008, created the bitcoin genesis block 3rd January 2009, and released the bitcoin code 08th January 2009. A new block is being produced every 600 or so seconds and the blockchain now totals more than 623 thousand blocks. There are more than 18 million bitcoins in circulation and less than 3 million left to mine. There will never be any more than 21 million bitcoins.
The raw hex version of the Genesis block - the first block of the bitcoin blockchain - contains the following text:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
This is why bitcoin was created.
WHAT IS BITCOIN FOR?
Bitcoin Money - A Tale of Bitville Discovering Good Money
Andreas M. Antonopoulos is a best-selling author, speaker, educator, and highly sought after expert in Bitcoin and open blockchain technologies. He is known for making complex subjects easy to understand and highlighting both the positive and negative impacts these technologies can have on our global societies. As an educator, his mission is to educate as many people as possible, in as many places as possible, in as many languages as possible, about Bitcoin and open blockchains.
THE BULLISH CASE FOR BITCOIN
"When stores of value compete against each other, it is the specific attributes that make a good store of value that allows one to out-compete another at the margin and increase demand for it over time."
THE BULLISH CASE FOR BITCOIN - VIJAY BOYAPATI
BITCOIN STOCK TO FLOW MODEL
"Bitcoin is the first scarce digital object the world has ever seen. It is scarce like silver & gold, and can be sent over the internet, radio, satellite etc. Surely this digital scarcity has value. But how much? In this article I quantify scarcity using stock-to-flow, and use stock-to-flow to model bitcoin’s value."
MODELING BITCOIN'S VALUE WITH SCARCITY - PLANB
THE BITCOIN HALVING
BITCOIN BLOCK REWARD HALVING COUNTDOWN
"The amount of Bitcoin that gets created every 10 minutes gets cut in half every four years. This is known as the Bitcoin Halving. The next Halving will be Bitcoin’s third and will take place in May 2020. This is when the current block reward of 12.5 Bitcoin every 10 minutes will be cut in half to 6.25 Bitcoin. Seeing as the maximum supply cap for Bitcoin is 21 million, halving the block reward means that it will take longer for all Bitcoin to enter circulation. But this also means that less and less new Bitcoin will be created over time and due to its limited supply — Bitcoin will continue to become increasingly scarce."
BITCOIN HALVING - REKT CAPITAL
THE GOLDEN RATIO MULTIPLIER
"The new tool outlined in this paper brings an alternative degree of precision to understanding Bitcoin’s price action over time. It will demonstrate that Bitcoin’s adoption is not only following a broad growth curve but appears to be following established mathematical structures."
THE GOLDEN RATIO MULTIPLIER - PHILIP SWIFT
THE BITCOIN REFORMATION
"This report makes the case that the 21st century emergence of bitcoin, encryption, the internet, and millennials are more than just trends; they herald a wave of change that exhibits similar dynamics as the 16-17th century revolution that took place in Europe."
ADAMANT RESEARCH - THE BITCOIN REFORMATION - TUUR DEMESTER
SATOSHI NAKAMOTO INSTITUTE
THE COMPLETE SATOSHI - WHITEPAPER, EMAILS, FORUM POSTS, CODE AND QUOTES
“Spend some time with Bitcoin. Learn it, challenge it, and use it. You can assume no government wants you adopting this system in any capacity, and for that reason alone it’s worth consideration by honest, moral, and industrious people”
WHAT IS MONEY?
"Gold Is Money, Everything Else Is Credit"
"The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion — policemen, customs guards, penal courts, prisons, in some countries even executioners — had to be put into action in order to destroy the gold standard. Solemn pledges were broken, retroactive laws were promulgated, provisions of constitutions and bills of rights were openly defied. And hosts of servile writers praised what the governments had done and hailed the dawn of the fiat-money millennium"
LUDWIG VON MISES
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value"
"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currency is full of breaches of that trust"
"I believe that the best investment you can make, in your own lifetime... is your own financial education"
How the Economic Machine Works - Created by Ray Dalio, this animated video answers the question "How does the economy really work?" Breaking down economic concepts like credit, deficits and interest rates, the basic driving forces behind the economy, how economic policies work and why economic cycles occur.
VISUALISING THE WORLD'S MONEY
What do trillions of dollars actually look like?
"Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves"
"As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties: boring grey in colour, not a good conductor of electricity, not particularly strong, not useful for any practical or ornamental purpose... and one special, magical property: can be transported over a communications channel"