• Unit 3: Resilience, Function, and Philosophical Implications of Bitcoin

    In this unit, Saylor returns to the missile analogy to elaborate on the ways Bitcoin protects itself from threats. As you'll see, the network's adaptability in response to attack is as impressive as it is wide-ranging. We also get into the debate over whether Bitcoin is (or should be) a medium of exchange and what we should expect from a base-layer protocol. Could other economic/technological layers perform certain functions of money better than Bitcoin can? If so, is that acceptable, even preferable? Finally, we will learn together some practical guidelines for designing an asset mix that aligns with your portfolio and lifestyle.

    Completing this unit should take you approximately 5 hours.

    • Upon successful completion of this unit, you will be able to:

      • explain the immutable nature of the rules established in the Bitcoin protocol and their resemblance to the unchangeable laws of physics;
      • analyze Bitcoin as a high-frequency store of value and a low-frequency settlement network;
      • detail the concept of leveraging Bitcoin for other currencies instead of selling it in the future;
      • explain the importance of holding Bitcoin as a means of financial sovereignty and protection against abuse in the crypto economy; and
      • explain Bitcoin's evolution as a digital organism under Darwinian selection, where major advances are adopted into its code.