From day one, a number of important constraints were built into Bitcoin. Things like:
- Absolute scarcity of 21 million coins
- Limited block space
- 10 minute blocks
Interestingly, there is no law of physics that requires these constraints. Satoshi could have chosen to modify the scarcity, block sizes, or settlement times, but instead chose to lean into them as self-imposed constraints.
Throughout history, this seems to be a common theme for many important innovations:
- The iPhone was built around the constraint of a single button beneath the display
- Twitter was built around the constraint of 140 characters
- IKEA was built around the constraint of requiring customers to build their furniture
A few questions to consider:
- What are some other examples of self-imposed constraints leading to step-change innovations in the world?
- What is it about constraining oneself in the short-term that leads to so many world-changing innovations?
- What other constraints should Bitcoiners be embracing?