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WiM026 - Money Hierarchies with Nik Bhatia
The "What is Money?" Show
Scaling Bitcoin Transactionally
There's this trade off, right between trust, i guess, and scaling. Like if you minimize trust, that you just settling with physical gold every time,. That would be very trust minimized. But to scale the actual transactional system, you need to introduce these layers of trust which is what gets you into hierarchical money. And bitcoin brings empowerment to people because it lets them bring the settlement back to themselves in a few minutes at a, you know, a very non material fee.
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