Coinbase CEO on The Future of Bitcoin and Layer Two Solutions

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Bitcoin will not fork and will remain limited to twenty-one million coins. The base layer of Bitcoin may see increased transaction fees due to global adoption, while layer two solutions could offer faster payments with lower fees. The potential long-term equilibrium of Bitcoin suggests very low velocity if mining fees increase. Bitcoin is viewed as digital gold, likely not becoming a medium of exchange without successful layer two solutions. In absence of layer two solutions, Bitcoin may evolve into a slow-moving asset for uncertain times, akin to a reserve currency in the crypto economy.

Brian Armstrong first recognized the potential of cryptocurrencies after witnessing firsthand the tragic consequences of hyperinflation in Argentina. Coinbase, the company he co-founded, aims to provide the primary financial accounts for the crypto economy. Their success in accomplishing this, he says, is due as much to their innovative approach to regulation as it is anything technological.

Brian joined Tyler to discuss how he prevents Coinbase from being run by its lawyers, the value of having a mission statement, what a world with many more crypto billionaires would look like, why the volatility of cryptocurrencies like Bitcoin is more feature than bug, the potential for scalability in Ethereum 2.0, his best guess on the real identity of Satoshi, the biggest obstacle facing new charter cities, the meta rules he’d institute for new Martian colony, the importance of bridging the gap between academics and entrepreneurs, the future of crypto regulation, the benefits of stablecoin for the unbanked, his strongest and weakest interpersonal skill, what he hopes to learn from composing electronic music, and more.

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Recorded January 14th, 2022 Other ways to connect

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