What Bitcoin Did REPRICING THE WORLD IN BITCOIN w/ Jeff Booth
6 snips
Dec 12, 2024 
Jeff Booth, an entrepreneur and author of "The Price of Tomorrow," shares his vision on Bitcoin's inevitable rise. He draws intriguing parallels between Bitcoin and the early internet, emphasizing its potential to reshape global trade. The conversation dives into the crucial roles of Lightning and Fedimint in scaling Bitcoin and the ongoing challenge of maintaining decentralization. Booth also discusses how Bitcoin can empower underserved communities and create a true global free market, heralding a transformative shift in the financial landscape.
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Bitcoin vs Internet
- Bitcoin should be compared to TCP/IP (1969), not the internet (1989).
- Additional Bitcoin layers will come faster, but the base layer must ossify first.
Ossification and Incentives
- Early Bitcoin layers ossify and become harder to change.
- There's an incentive to create 'faster' alternatives that sacrifice decentralization.
Layered Solutions
- Lightning Network, Liquid, and Fedimint/Nostr are Bitcoin's layer 2/2.5 solutions.
- Interoperability speeds up adoption by allowing developers to utilize existing components.
