Thriller Crypto - S3EP 05: Bitcoin’s Social Contract

Car discusses Bitcoin's Social Contract. When Satoshi Nakamoto invented bitcoin, he did not invent a new social contract. Satoshi did something else—he leveraged technology to solve many problems of past implementations and implemented the old contract in a new and better way.

The bitcoin token itself has no value. The value exists purely on the social layer. When the bitcoin software successfully automates the rules of the social contract, the two layers are synchronized. And when the software temporarily goes out of sync, it always has the social contract as a guiding beacon of light to return to.

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