Learn › The Bitcoin Standard › Lesson 10 of 11
Chapter 9: What is Bitcoin good for?
The author sees Bitcoin's main use as a store of value, then as a way to move value across borders without permission, and as a neutral settlement layer that could work like gold once did between banks. He argues small everyday payments are better handled by layers on top rather than on the base chain. He also discusses whether Bitcoin could become a unit of account, and his view that its price volatility should fall as it grows.
Summary in our own words, not a quote from the book. The author's arguments, not investment advice. Book · Author's course
Video
▶ Watch on YouTube · Privacy-enhanced player (youtube-nocookie). Video in English.
▶ Watch on YouTube · Privacy-enhanced player (youtube-nocookie). Video in English.
Key ideas
- Store of value first
- Censorship-resistant, borderless transfer
- Base layer for settlement; payments on layers (e.g. Lightning)
Check yourself
- What does the author rank as Bitcoin's primary use?
- Why push small payments to second layers?
- What does the author expect to happen to volatility, and is that a fact or a forecast?