18 March 2019 · 0 min read

10 Years of Bitcoin as a Monetary System

In this talk at the MIT Bitcoin Expo 2019 event this March, Nic Carter, partner at Castle Island Ventures, a venture capital firm focused on public blockchains, and co-founder of Coinmetrics.io, a provider of crypto asset market and network data, evaluates Bitcoin's performance as a monetary system during its first 10 years.

Key takeaways:
• Bitcoin’s dominant security model is a function of which adversarial conditions you think are likeliest to hold
• While the question of stock/flow/threshold is not settled, a mature and vibrant fee market is a requirement for long run security
• If Bitcoin block space retains a premium relative to other blockchains it is well - placed to compete in the long term
• Enhancing semantic and economic density in Bitcoin transactions is key to maximizing its long term security budget, and hence survival

Slides of the talk can be found here.