Cryptocurrency

The Tension Between Bitcoin's Transparent Ledger and Censorship Resistance A significant tension exists between Bitcoin's transparent ledger (where all transactions are publicly recorded on the blockc...

The Manifestation of the "Code is Law" Principle in the Bitcoin World The "Code is Law" principle emphasizes that the rules of a blockchain system are defined and enforced by code.

Can Bitcoin's Network Effects and First-Mover Advantage Withstand Competition from Technologically Superior New Digital Currencies? As the first successful cryptocurrency, Bitcoin possesses significan...

This is one of the most profound and contentious sociological questions surrounding Bitcoin. It strikes at the heart of fairness, opportunity, and system design.

Evaluating Bitcoin's Effectiveness as a Safe-Haven Asset A safe-haven asset preserves or increases in value during market turmoil (e.g., economic recessions or geopolitical crises).

The Trojan Horse Perspective: Paving Bitcoin's Entry into Mainstream Finance The launch of Bitcoin ETFs, ostensibly a compliant investment vehicle, functions like a "Trojan Horse" to open mainstream f...

The Impact of Bitcoin "Whales" on Market Liquidity and Price Stability 1. Definition of Bitcoin Whales Bitcoin "whales" refer to individuals or entities (such as institutional investors, early miners...

Systemic Risk Analysis of Bitcoin Mining Geographical Centralization on Decentralization The geographical centralization of Bitcoin mining (e.g., historically in China or currently in the U.S.

The Impact of Central Banks Losing Control of Monetary Policy In a world where Bitcoin is widely adopted, central banks cannot intervene in the economy through traditional tools (such as adjusting int...

The Source of Bitcoin's Value Bitcoin's value is not solely based on the Lindy effect and network effects, but these effects are crucial components supporting its value.

The Manifestation of Gresham's Law in the Bitcoin World Gresham's Law, which states that "bad money drives out good money," describes how people tend to hoard currencies perceived as stable or appreci...

Economic Challenges Price Volatility Risk Bitcoin experiences extreme price fluctuations (e.g., daily swings exceeding 20%). Pegging a national currency to it could destabilize the currency’s value,...

The Impact of Bitcoin Halving Cycles on Bull and Bear Markets Bitcoin's four-year halving cycle (where block rewards are halved approximately every four years, reducing new Bitcoin supply by 50%) is a...

Miner Competition and the Prisoner's Dilemma In Bitcoin mining, miners compete for block rewards and transaction fees by solving computational puzzles.

Core Logical Flaws The core logical flaw of the Stock-to-Flow (S2F) model lies in its overreliance on supply scarcity as the sole driver of price prediction, while ignoring other critical market dynam...

Bitcoin Supply Cap and the Risk of Deflationary Spiral Definition of Deflationary Spiral A deflationary spiral refers to a vicious cycle of persistently falling prices: consumers delay spending in ant...

The Contradiction Between Digital Gold Positioning and Peer-to-Peer Electronic Cash System Bitcoin's positioning as "digital gold" does involve a fundamental contradiction with its original vision as ...

Ordinals Theory and the Emergence of BRC-20 Tokens: Do They Contradict Bitcoin's Original Intent? Bitcoin's Original Intent Proposed by Satoshi Nakamoto in 2008, Bitcoin aimed to create a decentralize...

Bitcoin Security Budget Problem Analysis Problem Overview Bitcoin's block reward halves every four years (e.g., reduced to 3.125 BTC in 2024) and is expected to approach zero by 2140.

What is an SPV (Simplified Payment Verification) Node? An SPV (Simplified Payment Verification) node is a lightweight client implementation in the Bitcoin network, designed to allow users to verify tr...