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Learn › The Bitcoin Standard › Lesson 11 of 11

Chapter 10: Bitcoin questions

The final chapter answers common objections: is mining a waste of energy, who controls the rules, can the network scale, is it used for crime, and how could it be killed. The author also argues that other cryptocurrencies and most 'blockchain' uses lack Bitcoin's key property and are not worth much, a strong opinion. For each objection, compare his answer with current data, for example on mining energy and scaling.

Summary in our own words, not a quote from the book. The author's arguments, not investment advice. Book · Author's course

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Key ideas

  • Mining energy as the cost of security (the author's framing)
  • Rules change only with broad consensus
  • A sceptical view of other coins and 'blockchain' projects

Check yourself

  1. How does the author answer the energy objection?
  2. Who can change Bitcoin's rules?
  3. Which of these answers would you check against fresh data?