In a new episode of the ‘What Bitcoin Did’ podcast, hosted by the “King of Bedford” Peter McCormack, macro strategist Lyn Alden said Bitcoin (BTC) has the potential to become THE global currency and support the world’s population.
Alden explained the versatility of Bitcoin by explaining how the flagship cryptocurrency is layered and the potential of it. She said:
“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, you have Lightning 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 permission less,
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.”
Furheremore, Alden noted that we are still in the early phases of Bitcoin adoption 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.”
In an interview on McCormack’s podcast wo months back, Alden had said that Bitcoin will become the most dominant currency and thereby surpassing all other digital currencies:
“It checks off a number of boxes, and even the boxes it doesn’t check off are within sight of being able to be checked off as technology improves and as it just gets more widely held, and it becomes better. So I think longer term, I think Bitcoin…”
So far, two nations have adopted Bitcoin as legal tender. In September of last year, El Salvador embraced Bitcoin, under leadership of its ‘Bitcoin President’, Nayib Bukele. This year, the Central African Republic became the second nation in the world to adopt BTC as legal tender.
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Source: Igaming
