emphasised textual content From a protocol-design perspective, Bitcoin is commonly described in numerous methods:
as a retailer of worth, a settlement layer, or as censorship-resistant cash.
Particularly, I’m attempting to know which of those roles is most elementary
in response to Bitcoin’s unique design and technical constraints:
- Is Bitcoin primarily meant as a long-term retailer of worth?
- Is it designed primarily as a base settlement layer for big or rare transactions?
- Is censorship resistance the core property that defines its position?
- Or is Bitcoin deliberately a mix of those roles fairly than a single one?
I’m in search of solutions grounded in Bitcoin’s protocol design, the unique whitepaper,
or extensively accepted technical reasoning (e.g., block measurement limits, charge market dynamics,
safety assumptions), fairly than worth hypothesis or funding narratives.
References to particular elements of the whitepaper or protocol conduct could be particularly useful.
