# Bitcoin Whitepaper Notes

## Key Concepts

### Peer-to-Peer Electronic Cash
- No trusted third party needed
- Double-spending solved via proof-of-work
- Longest chain = truth

### Proof of Work
- SHA-256 based hashing
- Difficulty adjusts every 2016 blocks (~2 weeks)
- Incentive: block reward + transaction fees

### Network
- Nodes broadcast transactions
- Miners collect into blocks
- Blocks are chained via hash references

## My Thoughts
- The 21M supply cap is genius - digital scarcity
- Lightning Network solves the scaling concern
- Self-custody is the whole point

## Reading List
- [ ] Mastering Bitcoin - Andreas Antonopoulos
- [ ] The Bitcoin Standard - Saifedean Ammous
- [ ] Programming Bitcoin - Jimmy Song