I still remember when Nick Szabo spoke at Bitcoin 2021, a few years ago.

What struck me about his speech was how he managed to synthesize a concept that many still do not fully grasp today: Bitcoin is not just an alternative to precious metals or traditional currencies, it is something structurally different.

Szabo highlighted a point I find brilliant: the global network of Bitcoin nodes virtually eliminates all the friction characteristic of traditional systems.
Just think about the transportation and storage of physical gold, or the bureaucratic complexity of fiat currencies.
With Bitcoin, these problems simply do not exist.

But what truly makes Nick Szabo’s vision interesting is how he connects all this to decentralization.
The fixed and verifiable supply of Bitcoin is not just a technical detail; it is the foundation of a system that cannot be manipulated by any central entity.
This is what radically differentiates it from traditional financial systems.

When you listen to Szabo talk about these topics, you realize he is not just describing technology, but a philosophy.
And honestly, after all these years, his observations have only gained relevance.