Why is each line of Bitcoin code worth $20 million, while traditional code is only worth $100?

Gavin (Founder of Super Bitcoin / BEVM)

November 9, 2024

Ten years ago, I was still working at Motorola. At that time, Huawei proposed a goal for programmers to write 7 lines of code every day. After calculation, I found that the value of each line of code was about 100 US dollars. A few years later, when I studied the Bitcoin code in depth, I realized that the value of each line of code far exceeded the programming results of traditional Internet. This difference made me transition to the field of Bitcoin development without hesitation.

Today, each line of Bitcoin code is worth as much as $20 million. This astonishing difference prompted me to explore the reasons behind it, and ultimately concluded that the high value of Bitcoin code lies in its inherent "consensus creation ability" and "growth vitality", which is the fundamental reason why it is different from traditional Internet code.

The value of code can be divided into two categories: "capability" code and "functional" code. Bitcoin code is expensive because it is a "capability" code that has the ability to create global decentralized consensus and adaptive growth.

Each line of Bitcoin code is not a simple function implementation, but carries a decentralized mechanical consensus, a set of self-executing rules, and thus creates a new type of digital capability. This capability enables Bitcoin to condense the originally invisible human consensus on the Bitcoin network through the PoW mechanism, integrate the universally recognized resource "energy" and the ultimate recognized value "time" into the Bitcoin network, and use BTC to motivate different miners to compete to complete the value integration of human consensus, forming the most powerful decentralized global consensus network in human history, thereby creating huge commercial value and laying a solid foundation for carrying greater value in the future.

The Bitcoin code also has "growth vitality", that is, the ability to grow adaptively. Through the longest chain consensus mechanism, miners continue to compete for computing power and continuously stack consensus barriers. The system automatically adjusts the difficulty every 2016 blocks to balance computing power and block speed. In addition, the game between miners, nodes, protocols and application developers, users, and investors and other stakeholders has formed a constantly iterating network. This makes Bitcoin have the characteristics of self-sustaining and adaptive growth, just like a living organism, its growth and anti-fragility enable it to maintain robustness in different environments. The mechanical consensus expressed by the Bitcoin code is a "capability-based" product with adaptive growth and cannot be copied.

In contrast, traditional Internet codes are mostly "functional" products, which are designed to achieve specific functions or solve specific needs. Take the online shopping system as an example. The codes of the e-commerce platform are designed to help users select goods, checkout and pay. These codes can be quickly modified according to business needs and are easy to copy. Their irreplaceability and long-term value are low.

Another typical example is database management systems. Database products are widely used, but their core functions are data storage and retrieval, which can be replaced by more efficient implementations. Therefore, the value of their code is diluted due to the lack of uniqueness.

In summary, the high value of Bitcoin code comes from its inherent "consensus creation ability" and "growth vitality", as well as its unique attributes that cannot be replicated. This is a very vital code that not only solves the decentralized consensus problem, but also establishes a unique value system through its growth characteristics and complex ecosystem. The Bitcoin network has grown from 0 to a network worth 1.5 trillion US dollars in just 15 years. This growth rate is the best embodiment of the value of "capability-based" code. Traditional Internet code, although it may have excellent performance in specific functions, cannot reach the same value as Bitcoin due to its substitutability and functionality.

The next time you launch or evaluate a technology project, ask yourself: “Is this adding a feature, or is this creating a new capability?”