105 sats \ 1 reply \ @zuspotirko 3 Dec 2023 \ on: What's really scarce in btc? bitcoin
My attempt would be something like: btc is a system which instantiates the shared commitment of a group of people to a distributed ledger with dynamics allowing only 21m coins to be created and transmitted under such-and-such circumstances.
Don't use the word "commitment". Commitment is a thing in cryptography with a hard definition that means something else
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355 sats \ 0 replies \ @elvismercury OP 3 Dec 2023
It's also a term in the social sciences that has about 150 years of prior art; or perhaps 2500 years, depending on how you look at it.
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