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Crypto: How Bitcoin Can Scale Globally

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#bitcoin #world #money #population

“It is July 8 and 99% of the world’s population (nearly 7-B) gets some degree of Sunlight“–Paul Ebeling

Macro strategist Lyn Alden says it may be possible for leading digital asset Bitcoin to support the planet’s population.

In a new What Bitcoin Did interview, Ms. Alden says she can see BTC becoming a global money and supporting 8-B people due to how Bitcoin is layered.

“Yes, I think the only way it works realistically is in layers okay, which is how any complex financial system is developed. So you have basically Bitcoin [as] the base layer, [then] you have Lightning [Network] and then you have different layers of custody on top of that.

You can have things like Cash App. Cash App can scale to tons of people, but of course, you’re trusting Cash App. You’re giving up some degree of the permissionless…

I think when you combine multiple layers and technologies together, people can kind of choose their own adventure on how far down the Bitcoin stack they want to go or what their economic reality allows them to go.

Someone with a lot of Bitcoin might want to go deeper on the Bitcoin stack whereas a lot of other people might want to rely on those federated custody services or fully custodial custody services or just have their own kind of Lightning set up.”

Alden also claims money is a type of technology and that we’re still in the early phases of BTC’s existence as a currency.

If you look back in history… money is this type of technology, and I think we’re 13 years into this, and we’re still premature in terms of imagining the world in 50 to 100 years from now…

But I do think the combination of a global network, with cryptography, with proof of work, with difficulty adjustments has changed the game here in terms of what’s possible with money. And Bitcoin is obviously the best version we know of on how to do that. 

You can never really fast forward 20-30 years and say this is what the world looks like, but I think that we’ve opened this Pandora’s Box of recreating the possibility of hard money, commodity money, but one, unlike gold, moves at the speed of light.

Have a prosperous day, Keep the Faith!

#bitcoin, #world, #money, #population,

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.