The Economics of Bitcoin Scaling with Lyn Alden - WBD761

Lyn Alden is a macroeconomist and investment strategist. In this
interview, we discuss the challenges of promoting Bitcoin and its
growing acceptance in mainstream media and finance. We delve into
Bitcoin scaling, the trade-offs between self-sovereignty and
convenience, and the need for education to onboard new users. The
episode also covers Bitcoin's role in countries with economic
challenges, the empowerment it offers individuals and its
transformative potential in society.


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Promoting Bitcoin is no walk in the park. We, as advocates, face
resistance from various entities. The scepticism isn't
surprising, given the disruptive nature of Bitcoin, but it
underscores the need for persistent education to change
perceptions and address the biases that often cloud the true
potential of this technology. In this latest podcast with Lyn
Alden, we dissect the multifaceted nature of Bitcoin, its
challenges, and its profound impact on the global stage.


We discuss the marked shift in how Bitcoin is being portrayed in
the media, which could signal a move towards hyperbitcoinization
– the point where Bitcoin becomes the predominant form of money
globally. We also touched on the impact of ETFs on Bitcoin, which
could potentially bring more mainstream acceptance and investment
into the cryptocurrency space.


I questioned Lyn regarding one of the most contentious topics
surrounding Bitcoin i.e. its environmental impact. The energy
consumption narrative has been a sticking point for critics, yet
Bitcoin mining can incentivize renewable energy development and
provide a use case for excess energy that would otherwise go to
waste. Moreover, the positive effects of Bitcoin projects in
Africa, where access to energy can be a challenge, demonstrate
the nuanced relationship between Bitcoin and the environment.


A significant part of our discussion revolved around the scaling
of Bitcoin and the concept of self-sovereignty. As Bitcoin grows,
the base chain becomes more expensive to use, raising questions
about the trade-offs between self-sovereignty and convenience. We
talk about the role of the Lightning Network and the importance
of education in onboarding new users. We also cover the concept
of "mints", which could revolutionize the way Bitcoin is managed
and distributed.


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Show notes:
https://www.whatbitcoindid.com/podcast/the-economics-of-bitcoin-scaling


This episode’s sponsors:
Iris Energy - Bitcoin Mining. Done Sustainably
Bitcasino - The Future of Gaming is here
Ledger - State of the art Bitcoin hardware wallet
Wasabi Wallet - Privacy by default
Unchained - Secure your bitcoin with confidence
Bitcoin Atlantis - A Bitcoin conference in the Atlantic
SwanBitcoin - Invest in Bitcoin with Swan