Answer: It is true that narratives can change, and this is certainly the case with Bitcoin. Initially, Bitcoin was designed as a peer-to-peer digital cash system that allowed users to send and receive money without the need for a third-party intermediary. However, over time, the narrative surrounding Bitcoin has shifted to that of a “store of value” or “digital gold.” This shift in narrative has been driven by a number of factors, including the increasing difficulty of mining Bitcoin, the limited supply of Bitcoin, and the increasing demand for Bitcoin as a hedge against inflation. In order for this narrative to continue, it is important to revisit the tokenomics of Bitcoin. Tokenomics refers to the economic model of a cryptocurrency, and includes things such as the inflation rate, transaction fees, and block rewards. By adjusting the tokenomics of Bitcoin, it is possible to continue to drive the narrative of Bitcoin as a store of value and digital gold.
