All 21 Million Bitcoin Already Exist Waiting To Be Unlocked By Auction

Most people who understand bitcoin know that there are two kinds of bitcoin. One is bitcoin, the asset which has a fixed supply and is quite volatile, and the second kind of Bitcoin, the network and protocol that maintains an immutable ledger that has never been hacked and is bullet proof, bomb proof and tank proof. It is my opinion that too much focus is placed on the asset and not nearly enough on the network, protocol and immutable ledger.

While listening to a recent podcast Peter McCormack had with Dhruv Bansal they discussed the network and protocol in a new way.

I really liked Dhruv’s framing of how to view the fixed supply of bitcoin. The two versions can be simplified as…

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