Part 3/9:

Deconstructing Bitcoin's Evolution

A significant part of the conversation revolved around the perceived deviations of Bitcoin from its original ideals established in 2009. Max pointed out that while Bitcoin proposed a decentralized currency design, many users today interact within the confines of major exchanges, effectively interacting with IOUs rather than the genuine blockchain. This scenario leads to concerns surrounding a fractionally reserved system where the perceived supply exceeds the actual digital coins in circulation.