Part 2/8:
Booth believes that Bitcoin represents a protocol, unlike any financial technology seen before. As he elaborates, many people misunderstand Bitcoin as merely advanced technology rather than a foundational protocol like TCP/IP for the Internet. This misunderstanding creates a sense of skepticism towards Bitcoin and, by extension, the entire cryptocurrency landscape.
He highlights that Bitcoin's strength lies in its underpinning structure — it operates as an open, decentralized, and secure network. This uniqueness, according to Booth, safeguards it against co-optation by larger entities or governments, which have historically attempted to centralize power and control in monetary systems.