We Study Billionaires - The Investor’s Podcast Network BTC220: US dollars on Bitcoin Lightning w/ Luke Gromen (Bitcoin Podcast)
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Feb 5, 2025 
Luke Gromen, a repeat guest and macroeconomics expert, dives into the transformative potential of Bitcoin's Lightning Network. He discusses Tether's game-changing integration of USDT via the Taproot Asset Protocol, which could disrupt traditional finance systems. The conversation reveals how this innovation reduces transaction costs and challenges banks, Visa, and Mastercard. Gromen also explores the implications of Bitcoin-backed tokenization and how financial institutions may need to adapt to stay competitive in this evolving landscape.
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Lightning Network's Functionality
- Bitcoin’s Lightning Network enables faster, cheaper transactions, similar to TCP/IP on the internet.
- It breaks down Bitcoin into smaller units (satoshis) for quick transfer.
Bitcoin vs Gold
- Unlike gold, Bitcoin’s Lightning Network requires moving actual Bitcoin between nodes for transactions.
- This makes it harder to manipulate Bitcoin's price like gold.
Lightning Network Transactions
- Lightning Network transactions are like paper entries updated on a layer-two ledger.
- Either party can settle the channel and record it on the layer-one Bitcoin blockchain.