This chapter walks the case from first principles. Scarcity that can't be debased. Verifiability without trust. Ownership without anyone's permission. A supply schedule fixed in code and enforced by every node.
It's my distillation of Bitcoin's monetary principles. This chapter will be familiar reading for most bitcoiners, but it gets us all up to speed. For the technical reader who is approaching Bitcoin for the first time through this book, it's an introduction to Bitcoin as money.
If you want to read Defending Bitcoin right now, sign up for an advance copy below. All I ask is that you leave a review after the book launches:
https://defendingbitcoin.com/advance-copy
quotingDefending Bitcoin lands on June 15th, in just under a month. Between now and then, I'm going to preview what's inside, one chapter at a time.
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Chapter 1, Bitcoin: The Decentralized Protocol.
I had to make a choice with the opening chapter. Start with the monetary features, or start with the protocol. I went with the latter, because I figure that technical non-Bitcoiners (such as those who might read a cybersecurity book) might be more comfortable with the technical side of things.
So, Chapter 1 walks the protocol from first principles. Nodes, miners, the mempool, the difficulty adjustment. The architecture of decentralization. Building up the how before getting to the why.
Bitcoiners get a refresher. The dual-track approach runs the length of the book.
If you'd like to read Defending Bitcoin now, sign up to become an early reviewer on the book's website: https://defendingbitcoin.com/advance-copy
