There are historical bugs in Bitcoin Core. Bitcoin Core is the distributed software that verifies the protocol rules. Analysing the bugs that have been fixed can help us to understand how the network has grown stronger over the years. 1) 184 billion overflow (2010): An error in the checks generated a block containing 184 billion bitcoins, which exceeds the 21 million limit. The community intervened within a few hours, invalidating the block and providing an immediate update. Monetary integrity was restored. 2) Programme blockage caused by an instruction (2010): Some scripts could cause the node to crash. This instruction was disabled in version 0.3.5. Reduction of the attack surface. 3) Risk of divergent chains (2012): A flaw in the block structure could create incompatible versions of the blockchain. A quick fix was implemented and the network was re-composed. 4) Node privacy (2013): A vulnerability allowed IP addresses to be linked to Bitcoin addresses. Patches were distributed between January and February 2013. Privacy requires ongoing maintenance. 5) Risk of double spending and inflation (2018): A fundamental input check was accidentally removed by a change. There were no attacks on the main network and an immediate patch was applied. 6) Counter exhaustion (2025): Suboptimal address management could block the node in the long run. Switch to 64-bit counters in recent versions. All bugs have been fixed without causing any permanent issues. Thanks to open source software, independent checks and timely updates, the network has shown resilience. Updating the node is a shared responsibility. #bugs #bitcoin #core #software #opensource #issues #network

Disintermediation is a new model of relationship between individuals and finance. In the traditional system, almost every transaction goes through an intermediary, such as banks, clearing houses, payment circuits or money transfer companies. However, Bitcoin demonstrates that it is possible to transfer value globally without intermediaries, operating instead according to a peer-to-peer model as defined in the 2008 white paper. This involves: 1. Direct international payments: no SWIFT or correspondent banks required, with reduced costs. 2. Individual savings: wealth is no longer dependent on the operations of a central institution. 3. Reduction in transaction costs and settlement times. 4. Greater resilience: fewer centralised points of failure. 5. Global access to services, even in areas where the banking system does not reach. The BIS and the IMF recognise that this disintermediation raises questions of financial stability, particularly in emerging markets. However, they also acknowledge that Bitcoin's innovations are already influencing monetary policies and payment architecture, prompting many countries to consider CBDCs (unfortunately, providing another means of control). Bitcoin has indeed introduced a new principle: the ability to transfer value without a central authority. All other digital innovations in finance are a response to this discovery. Understanding disintermediation is key to understanding the future of finance. #disintermediation #distributed #bitcoin #finance #controll #system

Economic freedom and resistance to censorship: when Bitcoin becomes part of the civil infrastructure. In many countries, controlling money is a means of exercising power. Freezing accounts, blocking donations, limiting withdrawals and imposing currency restrictions are tools typically used by authoritarian regimes to suppress dissent and opposition. Bitcoin introduces a decisive technical feature: resistance to censorship. A valid transaction cannot be blocked, cancelled, or prevented by a central authority. This creates a space for economic freedom where none existed before. Gladstein's studies (HRF, 2025) document concrete cases: - Nigeria, during the #EndSARS protests, activists' accounts were frozen, but donations resumed thanks to Bitcoin and BTCPay Server. - Russia, Hong Kong and Belarus: independent media outlets and dissidents used Bitcoin to receive funds after being 'debanked'. - Ukraine, 2022: over $200 million was quickly received when banking channels were blocked or unstable. In all these scenarios, Bitcoin does not replace politics, but it does protect the economic capacity to act. It ensures operational continuity for NGOs, journalists, civic associations, and individuals under authoritarian pressure. Freedom is not abstract; it exists when you can act. #freedom #free #bitcoin #resistance #censor #civil #money #bank

Financial inclusion: Using Bitcoin as social infrastructure in unbanked countries. Today, over 1.4 billion adults do not have a bank account. This is due to a variety of structural causes, including high costs, missing documents, distance from branches, distrust of institutions, political instability and, above all, the inconvenience of traditional banking. Bitcoin offers an alternative: an open, global infrastructure. All you need to access the network is a smartphone. There are no status requirements, geographical barriers or accounts to open. This enables 'bottom-up' financial inclusion. Data shows that 16 of the top 20 countries for the adoption of alternatives to state currencies are emerging economies. In sub-Saharan Africa, usage grew by 52% in one year, with over 8% of transactions being for amounts under $10,000 — indicating everyday, non-speculative use. Nigeria is a prime example: around 36% of adults are unbanked, yet the country is a world leader in Bitcoin adoption via peer-to-peer. For many citizens, Bitcoin is the only effective means of accessing tools such as savings, remittances and international payments. However, it is not a universal solution; digital infrastructure, financial literacy and complementary policies are also required. However, as noted in reports by the World Bank and the IMF, Bitcoin has introduced a new standard of accessibility, capable of including even those who have never had access to the formal system. True inclusion comes when barriers are reduced, not when intermediaries are added. #financial #inclusion #unbanked #infrastructure #countries #bitcoin #social #good #asset #account #network

From monopoly of trust to distributed trust: a cultural shift in the way we think about money. The traditional financial system is based on hierarchical trust; we rely on banks, central banks, and the state. This is a 'vertical' model in which a few institutions hold a monopoly on public trust. Bitcoin overturns this paradigm. The network operates according to mathematical rules and distributed verification, with each node independently checking the validity of transactions. Users do not have to trust the other party, but rather the cryptographic protocol. This is why we talk about a 'trustless' system: not because trust disappears, but because it is redistributed horizontally. Some studies define this phenomenon as 'trustless trust': a new social model in which guarantees come from a set of publicly verifiable software rules rather than a central authority. This raises an essential question: What does it mean to trust code rather than institutions? International institutions remind us that traditional trust remains a fundamental public good. At the same time, Bitcoin's popularity shows that distributed digital trust is already an operational reality, particularly in countries where financial institutions are not trusted. Understanding how trust works is key to understanding how our freedoms work. #freedom #trust #institution #bitcoin #trustless #model #public #financial #system #money

Individual monetary sovereignty occurs when individuals regain ownership of their assets. In many economies, managing money requires trust in intermediaries, such as banks, which are guaranteed by the central bank. However, there are limits on withdrawals and funds can be frozen in extraordinary situations. This model is based on an implicit assumption. control of money is not really in the hands of individuals. Bitcoin introduces a different paradigm. Since 2009, individuals who hold their private keys have been able to store and transfer value independently of banks, governments and payment systems. The protocol defines a fixed, known and verifiable supply that cannot be expanded at will, thereby reducing the risk of devaluation induced by expansionary monetary policies. This operational sovereignty is crucial in times of crisis: hyperinflation in Lebanon and Venezuela, currency restrictions in Nigeria and recurring devaluations in emerging markets have prompted millions of people to choose Bitcoin over traditional currencies to protect their purchasing power. According to the Human Rights Foundation, over 87% of the world's population lives in countries with unstable currencies. For many of these people, Bitcoin is not a speculative investment, but a means of achieving economic self-determination. Of course, self-custody entails responsibility for key management, cyber risk and short-term volatility. However, the principle remains: for the first time, individuals can hold wealth without asking anyone's permission. Awareness is the first step towards economic freedom. #freedom #economic #bitcoin #awarness #monetary #selfcustody #firststep

All we see is the canopy. The important things live beneath the ground. Of Bitcoin, only the surface is visible: users, adoption, freedom and price. While these are the easiest signs to observe, they do not represent the essence of the phenomenon. Beneath the surface lies a much larger system comprising a web of rules, incentives, energy, security and distributed cooperation, which makes this social asset possible. This is a system that does not demand attention or claim to be understood; it only asks to function, like any mature infrastructure. The average user does not need to know what lies at its roots. If everyone had to understand it thoroughly, it would never be adopted: it would be reserved for a few technicians. Mass adoption occurs when complexity ceases to be visible. When the tool becomes normal, everyday and natural: a gesture, not a lesson. Bitcoin will follow the same path as the technologies that have changed society: it will first be difficult, then be mediated by simple tools, and finally become invisible. A social good becomes accessible not when everyone studies it, but when anyone can use it without thinking about it. But what about the price? The price is an indicator of technological evolution, not the focus of the discussion. It is not secondary; it is tertiary. Those who are only looking for profits are not looking for Bitcoin; they are looking for something else. Bitcoin is a social asset offering autonomy, continuity, and an economic voice, even when everything else stops. The strength of the roots can be seen. The strength of the roots can be felt. It is in these invisible roots that the technology's true maturity lies. #bitcoin #system #technology #network #social #adoption #invisible #autonomy #continuity #infrastructure #freedom

Mass adoption will come when Bitcoin becomes invisible. A common misconception surrounding the mass adoption of Bitcoin is that everyone must understand it in order to use it. In reality, however, no technology has ever achieved global diffusion thanks to its users' technical understanding. Nobody knows how POS terminals, payment cards, or the protocols that govern the internet work. Yet we use them every day. Internal complexity has never stopped innovation; only the perception of complexity does. According to innovation diffusion models, mass adoption occurs when a technology aligns with existing habits, requires minimal cognitive effort, and integrates with existing infrastructure. Bitcoin will be no exception. Adoption will not occur when everyone understands it, but when it is no longer necessary to do so. All technologies become mainstream when they stop demanding attention. The camera was once a niche tool, but when it was integrated into the smartphone, it became universal. Users did not learn photography; they simply used a familiar interface. The path for Bitcoin will be similar. The distributed network will continue to function as an energy-digital infrastructure, but end users will only interact with simple tools, such as secure apps and intuitive wallets, and features integrated into the services they already use. When a social asset becomes invisible, it becomes accessible to all. Real adoption occurs when the experience is immediate rather than when technical knowledge increases. Invisible integration has a significant social impact in that it enables people to use a social asset that guarantees economic autonomy, privacy and resilience without requiring specialist skills. For families, this means being able to send, receive or store value with ease. For businesses, it means reducing transaction costs, accessing new customers, and operating with fewer constraints. Mistaking use for technical understanding is a mistake of perspective. Much of the infrastructure supporting the modern economy is opaque to users, but this does not limit its effectiveness; rather, it encourages adoption. Bitcoin will be widely adopted when it is perceived as a digital norm integrated into everyday life. #massadoption #mass #adoption #payment #internet #network #social #asset #invisible

Scarcity as a social good. Scarcity generates conflict. Wars, crises, and economic history teach us this. However, there is a form of scarcity that reduces conflict. It is called Bitcoin. Every vital system functions thanks to limits. Energy is finite, time is irreversible, and attention is limited. Without scarcity, there is no value, and without value, there is no choice. This is where economics comes in: the art of allocating what is scarce. Bitcoin did not invent scarcity; it simply made it measurable, shareable, and verifiable. The 21 million formula is more than just a technical limit. It is a pact of fairness that no one can violate, not even those who created it. No decrees, trust, or mediators are needed, only energy and time. In this sense, Bitcoin is a social convention based on physics, not politics. It functions as long as there is a connection, electricity, and a willingness to cooperate. Bitcoin is the first economic infrastructure that does not discriminate based on income, passport, or consent. When issuance is fixed, each unit becomes a portion of shared time. Every individual, anywhere in the world, has the same rules and opportunities to participate. There are no "strong" or "weak" currencies; there is only each person's time converted into verifiable value. This is the essence of social good: Not an object, but a condition of equality. Bitcoin is often accused of "consuming energy." Bitcoin is often accused of "consuming energy." However, energy is not wasted if it generates order. Each joule used for network security prevents the costs associated with corruption, inflation, and censorship. In the long run, this encourages energy efficiency because only those who produce clean energy can compete. stable energy sources can compete. Thus, what appears to be "consumption" becomes a form of natural selection that favors sustainability. In a world of constant change, predictability is a rare commodity. Knowing that the rules will be the same tomorrow means having the ability to build. Bitcoin does not promise salvation; rather, it promises consistency over time. This consistency is a form of freedom. Anyone can verify it; no one can alter it. It is an economic and moral experiment. It transforms blind trust into verifiable trust. Bitcoin is not just technology, finance, or speculation. It is a social experiment based on the principle that order comes from limits, not power. Programmed scarcity does not impoverish; it educates. It restores human time to its natural weight, which is responsibility. Freedom is not the absence of rules; it is the knowledge of one's own limits. #social #good #asset #bitcoin #formula #physics #politics #energy #electricity #currency #consum #efficiency #sustainability #experiment #order #responsability #scarcity #knowledge

From Formula to Scarcity: Stock-to-Flow. Bitcoin is scarce. This phrase is often repeated but rarely explained. In economics, scarcity is not an opinion; it is a numerical ratio. Every material or digital asset has two fundamental quantities: Stock: The quantity already in existence. Flow is the quantity added each year. The ratio of the two, stock-to-flow, defines the monetary hardness of an asset. The higher the ratio, the more resistant the asset is to inflation; that is, it is difficult to expand its total quantity. In the case of Bitcoin, monetary inflation is defined as "flow over stock." Therefore, the stock-to-flow ratio is the inverse of inflation. It's a simple yet powerful relationship: What is fragility (inflation) for currencies becomes robustness (scarcity) for Bitcoin. Each halving event cuts the "flow," or the annual creation of new bitcoins, in half. The "stock," on the other hand, continues to increase until it reaches the limit of 21 million. The result is a stock-to-flow ratio that grows in a deterministic manner over time. Between 2012 and 2016, Bitcoin inflation was 12.5%, and the stock-to-flow ratio was 8. Today, inflation is 0.83%, and the stock-to-flow ratio is 120. With the next halving in 2028, inflation will fall to 0.4%, and the stock-to-flow ratio will be 250. This relationship between inflation and Bitcoin's stock-to-flow ratio will persist until 2140, when inflation will reach zero and the stock-to-flow ratio will become virtually infinite. Currently, Bitcoin surpasses gold in monetary hardness; gold has a stock-to-flow ratio of around 60–70, whereas Bitcoin is already over 120. At the current rate, it would take 120 years to double the stock of Bitcoin. Scarcity is not a privilege; it is a form of equality. In a system where issuance is equal for all, no one can "inflate" the time or labor of others. Stock-to-flow does not measure price; rather, it measures the fairness of economic time. The higher the stock-to-flow ratio, the more wealth retains its value over time. Every bitcoin is created with the same amount of energy and follows the same rules. This distinguishes it from any currency created by decree. In 2019, an analyst known as PlanB popularized a model correlating Bitcoin's stock-to-flow ratio with its market value. The model is now criticized and, in part, outdated. It does not predict price; rather, it describes the consistency of the scarcity mechanism. Bitcoin is valuable not because it costs money, but because it retains its value over time. Each block added is a unit of order against the entropy of the global economic system. Stock-to-flow is not just a technical indicator. It is a numerical measure of programmed trust. The more it grows, the harder the network is to manipulate. In Bitcoin, scarcity is not a flaw in the code but rather its most human function. Once the quantity can no longer grow, the responsibility to use it well increases. #stocktoflow #scarcity #stock #flow #inflation #halving #gold #planb #technical #quantity #responsability