Bitcoin has once again become a hot topic recently, with reports indicating that discussions about it on social media have reached an all-time high. As a learner in the Web3 space, this has prompted me to delve deeper into the fundamental concepts of Bitcoin.

The issuance mechanism of traditional fiat currency is like a flexible faucet system. Central banks can adjust the money supply according to economic conditions, just as water plants adjust supply based on city demand. The advantage of this mechanism lies in its flexibility to respond to various economic situations, but it also brings the risk of inflation. The value of the currency in our hands may be diluted unknowingly; one yuan today might be worth only nine mao tomorrow.

In contrast, the design philosophy of Bitcoin is entirely different. It is more like a closed spring, with a total supply strictly limited to 21 million. This limitation is not a verbal promise, but is written into the underlying code of Bitcoin, which cannot be changed by anyone. The issuance mechanism of Bitcoin is designed very cleverly, automatically halving the production rate of new coins every four years, which is like cutting a cake that can never be finished, infinitely approaching but never exceeding the total supply limit.

Bitcoin sacrifices flexibility for extreme scarcity and predictability. This characteristic makes Bitcoin a unique store of value, unaffected by inflation in traditional currency systems. Perhaps this is why Bitcoin is regarded as an important cornerstone in the Web3 ecosystem.

As a learner in Web3, I find that the design concept of Bitcoin subverts our traditional understanding of currency. It is not only a new type of digital asset but also represents a completely new way of thinking about the economy. In exploring this innovative field, we need to have an open mindset to understand these seemingly counterintuitive designs that are full of meaning.

The contrast between the finiteness of Bitcoin and the infiniteness of traditional currency reveals a new way of thinking in the digital economy era. It is not only about technological innovation but also about how to redefine and understand value. With the continuous development of Web3 technology, we may see more similar innovative concepts that challenge our perceptions and reshape our future.