Part 10/15:
He explains that Bitcoin’s monetary policy is elegantly simple: a fixed supply of 21 million coins, with a known issuance schedule. This predictability distinguishes Bitcoin from inflation-prone fiat currencies or arbitrary policy changes. He metaphorically compares Bitcoin to stable engineering systems like aircraft—designed with least-risk principles, redundancy, and resilience—designed to avoid catastrophic failure.
The role of hardware, energy, cryptography, and software in Bitcoin's architecture—what he calls the "three E's"—creates a system that is nearly indestructible and fungible. He underscores the importance of gradual, deliberate changes and warns against protocol modifications driven by short-term incentives or political pressures that could introduce systemic vulnerabilities.