Part 6/12:
Instead of intrinsic value, the concept of intrinsic utility is championed—money must be useful, programmable, and capable of performing functions beyond mere exchange. Bitcoin, as software money, exemplifies this, providing intrinsic utility by enabling programmable, borderless transactions.
The Architecture of Money and Trust
A significant discussion revolves around the foundational structures of financial systems:
Client-Server Model of Traditional Money: Modern banking relies on centralized control, where individuals are clients, and banks hold control over assets, often through debt.
Master-Slave Relationships: The current system is characterized by a hierarchy where the bank (master) controls the money, and the depositor (slave) has limited control.