"Bitcoin functions as a decentralized and censorship-resistant network, allowing independent participants to maintain and verify their own copies of its transaction database, ensuring universal access."
"The existence of Bitcoin relies on preventing any individual from being excluded from utilizing the system, fulfilling its essential purpose of accessibility and functionality."
"Despite its intended uses, Bitcoin can be employed for various purposes, including those deemed inappropriate, underscoring the inability to restrict how people choose to use it."
"The competition for blockspace occurs in a free-market environment with diverse use cases, leading to a necessity for adaptation as the market conditions evolve."
Bitcoin is a decentralized network that operates on censorship resistance, ensuring all participants can verify and maintain their historical transaction records. Its main purpose is to guarantee that no one can be shut out from the system. Users may find various purposes for Bitcoin, including those disapproved of by others, showcasing its intrinsic functionality. The competitive blockspace market contains diverse use cases that must adapt to changing conditions, emphasizing the importance of density in utilizing blockspace efficiently for different applications.
Read at Bitcoin Magazine
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