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Debate Returns to Bitcoin Core
How much is Bitcoin worth, the orange pill, and a heart-warming success story
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β¨ Begun, the Node Wars Have
Debate has broken out within the Bitcoin community regarding a proposed code change. I'll avoid the technical weeds, but at a high-level, the topic being discussed is an increase to the amount of arbitrary, non-essential data that can be added to a Bitcoin transaction.
The significance of this debate, however, goes beyond just the technical. "Bitcoin Core" is the name of the software project that is traditionally considered to be "Bitcoin" itself. But, being open source, anyone could write their own code and create their own project to implement the rules of Bitcoin, and node-runners can choose which project to run on their computer. 99% of node-runners have run the project known as Bitcoin Core, but that is changing as a result of this debate. In particular, the discussion of the change on GitHub, the shared code repository, is being censored, with those who disagree with the change being excluded from the discussion.
This a pushing developers and node-runners to a project known as "Bitcoin Knots", which implements the same rules of Bitcoin, but is maintained by different developers. And this, many are saying, is a positive development, reducing the centralization risk of everyone running the same project, maintained by a few particular developers.
π Education: The Orange Pill
Just as, in the Matrix, Neo is given the choice to take the Red Pill, which will expose him to truth, and which perspective-change he will not be able to reverse, in Bitcoin, we refer to the Orange Pill. The Orange Pill is taken when you embark down the Bitcoin rabbit hole, and uncover new ways of understanding the world and how civilization works (and doesn't).
Example, regarding interpretation of society's ills:
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10:25 PM β’ Apr 30, 2025
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Or another, regarding fiat money, property rights, and contracts:
β(Link to full Bit Paine tweet)β
Is Bitcoin Worth Infinity?
When the measuring stick (the dollar) loses value rapidly, the object being measured (Bitcoin) appears to grow quickly. But what if there is no demand for the dollar at all? Bitcoin then becomes worth infinity dollars. Check out the full tweet below and decide what you think.
π₯° Heart-Warming Success
Another somewhat long tweet, cut off in the preview, but worth clicking through and reading! Full tweetβ
Have a great week!
βοΈ Bill
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PS
If you haven't already, check out Swan's free Welcome to Bitcoin course. In one hour of high quality video content, Natalie Brunell covers the essentials of Bitcoin - the things you need to understand about its role in the world. You can enroll in the course at https://swan.com/welcome, or watch the first 15 minute video on YouTube: https://www.youtube.com/watch?v=sZvhLDWjD_I&t=44s
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Another great place to start is a 40 minute video called "What's the Problem", motivated by the notion that we can't understand the solution (ie Bitcoin) if we don't really understand the problem it solves. The video is on YouTube:
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Feeling a little more than casual? Want to dive in deeper?
Here is a list of resources to take the next step with your personal Bitcoin learning journey:
Books:
- βThe Genesis Book - Bitcoin didnβt come out of nowhere; intellectual movements in economics and cryptography converge after decades of development in each, the result being Bitcoin. This book details Bitcoinβs prehistory, and is my favorite Bitcoin book
- βInventing Bitcoin - a narrative, progressive approach to building Bitcoin as a superior money, one feature at time, to help the reader understand how features of Bitcoin solve problems of money. *FREE* ebook download
- βGradually Then Suddenly - a clear, logical walkthrough, understandable by beginners, of the case for Bitcoin as money - how the technology works conceptually, how and why it will win, and why this is good for the world
- βThe Price of Tomorrow: Why Deflation is the Key to an Abundant Future - not a book about Bitcoin per se, but this book and this author are some of the most popular in the space. The book explains the roles of technological advancement and inflation/deflation in creating scarcity/abundance in society
- βThe 7th Property: Bitcoin and the Monetary Revolution - takes an accessible, casual tone to the topics of monetary economics, the history of central banking in the West, and how Bitcoin works
- βThe Bitcoin Standard: The Decentralized Alternative to Central Banking - the most popular book in Bitcoin, this book takes a relatively academic lens to the same topics as the 7th Property, with a significantly lighter treatment of Bitcoin itself
- βA Progressive's Case for Bitcoin: A Path Toward a More Just, Equitable, and Peaceful World - imo not necessarily the best book on the list, but a thorough exploration of the ways that, even apart from what economic theory tells us about sound money's contribution to societal prosperity, Bitcoin makes for a better world
- βCheck Your Financial Privilege: Inside the Global Bitcoin Revolution - a compilation of essays by Human Rights Foundation's Alex Gladstein about the role that Bitcoin will play in liberating a world where more than 50% of people live under tyrants.
Podcasts:
- βWhat Bitcoin Did - The most popular show with the most popular guests, topics range from developments in Bitcoin, the Bitcoin community, macroeconomics, and politics
- βPreston Pysh - Covers the same topics with similar guests as What Bitcoin Did, though a little more technically advanced
- βHigh Hash Rate - Very casual conversations about Bitcoin and Bitcoiners, usually making interesting connections to other areas of life and society. The connection-making is likely facilitated by the fact that the hosts are often high for the show
- βSwan Signal - Covers recent developments in Bitcoin, leaning more toward markets and price action
Youtube Channels:
- βBitcoiner University - 10 minute videos deep diving on specific topics in Bitcoin and in relevant current events
- βBTC Sessions - Perhaps the most important resource on this list, BTC Sessions does video tutorials on how to use Bitcoin and different Bitcoin tools like hardware wallets, running a Bitcoin node, etc
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