Part 8/17:
Cyprian elaborates on the duality inherent in Bitcoin: the conceptual ideal—a decentralized, permissionless network rooted in cryptography—and the manifested reality rooted in market dynamics, forks, and external influence from states and powerful actors.
While the core idea of Bitcoin relies on a resilient, open protocol that anyone can deploy, its actual manifestation is often co-opted or challenged by entities seeking control. Central bank digital currencies (CBDCs), for example, are described as direct reactions to Bitcoin, designed to provide controlled, traceable digital money that can be revoked or censored.