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Meltem Demirors 3

i think one of the things that was remarkable about your testimony is you showed that bitcoin didn’t propose these same challenges, yet it is coherently creating what amounts to a digital jurisdiction at the same time, and is perhaps is at the foundation for this type of macro asset going forward, the foundation for what could amount to an important money supply, a hard money supply.
Let’s untangle that a bit. So I think what’s challenging when we talk about bitcoin is unlike debt or equities bitcoin represents three different things. Bitcoin is technology in the context of the bitcoin protocol, which is open-source code, and open-source software has been a part of our world for a long time, and open source is I think starting to gain acceptance as an investible category in the venture world and beyond. And so, bitcoin at its core is the bitcoin protocol.
Meltem Demirors: (05:56)
Bitcoin is a network and what’s interesting here is bitcoin is kind of a supranational global communication network, and so there are tens of thousands of devices around the world, whether people are running minors, or people are just running full nodes there’s this network of computational devices that are maintaining the bitcoin ledger, and engaging the invalidating transactions, and maintaining the integrity of the ledger, and so the bitcoin network is physical in nature...

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