By Adam Taché and Murad Mahmudov


This is a follow-up to The Many Faces of Bitcoin, which discussed four schools of thought of Bitcoin. This article will analyze these perspectives by discussing trade-offs, philosophical divides within the community, and expected behaviors of the proposed systems.


  • Bitcoin as Money
  • Roles of Full Nodes & Miners in Bitcoin & Bitcoin Cash
  • Addressing “Satoshi’s Original Vision”
  • Role of SPV
  • Segregated Witness
  • Bitcoin Maximalism
  • Upper-Layer Systems and Alt-Coins

Bitcoin As Money

Bitcoin presents us with an opportunity to reinvent gold, or even rethink money for the digital future. A number of economists have suggested that it may be more appropriate to evaluate items based on their degree of moneyness. According to this thinking, it isn’t that something either is or is not money; on the contrary, many items can play a monetary role and some items can play this role more effectively than others. In a number of ways, bitcoins have a high degree of moneyness. …

By Adam Taché and Murad Mahmudov.

To nocoiners, gold-bugs, and Keynesians, the cryptocurrency space is best seen as a parasite infecting millennials with technobabble, forcing them to spout economic gibberish, and sucking them into believing the pipedream that a crypto-anarchist society could exist. To believers in the technology, cryptocurrencies represent an escape from the imprisonment of the traditional financial system in which they are forced to participate by being born; a system which has been plagued by inflationary monetary policy, monopoly by nation-states on money creation, malinvestment, and debt. …


Murad Mahmudov

Cryptocurrency @MustStopMurad

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store