1/ Critics denounce Bitcoin as technology that just isn’t that useful. In many respects, they’re right. The network doesn’t scale. Privacy is fragile. Prices are volatile. Custody is hard.

2/ If we take a step back, however, it might be easier to understand why Bitcoin is such an incredible achievement.

3/ Bitcoin is many things.

It's a network in which anyone with an Internet connection can participate. A network no single entity controls.

4/ It's an economic system. A system in which anyone can opt and transact. A system in which trust is minimized.

5/ It's money. Money that you don't need permission to own or use. Money whose rules are set in stone, not dictated by any government. An Austrian-economic experiment at grand scale.