"But more broadly, one must ask, “at what point would someone want to permanently exchange their self-custodial scarce money (bitcoin) that has a 1.8% annual supply inflation rate that is exponentially shrinking, for a soft money (fiat currency) that typically has a 7% annual supply inflation rate or higher?”
The answer for many people, is never, as long as the Bitcoin network is still working." - Lyn Alden
What is up we are digging into Part 2 of Lyn Alden's amazing piece "A Look at the Lightning Network" - and we have a rather ridiculous Guy's Take after this to cover the rest of the groundwork laid in Part 1 that I didn't get to cover, a lengthy tangent about proof of stake and the total meaningful loss of anything considered independence or decentralization of ETH 2.0 before the merge even happened (that I hadn't actually intended to get into, but you'll get it anyway), and of course, Lyn's amazing breakdown of the trade-offs, the philosophical reasons & practical reasons for layered engineering, and how Lightning is fulfilling the promises of P2P electronic cash. All this in today's episode - get ready
Link to the original article and the Swan Bitcoin blog for tons of other great reading:
https://www.swanbitcoin.com/a-look-at-the-lightning-network/
The audiobook for Check Your Financial Privilege is now available and covers in depth many of the human rights struggles mentioned by Lyn Alden in this piece:
https://www.audible.com/pd/Check-Your-Financial-Privilege-Audiobook/B0B9T6BJC4
And the audio for Allen Farrington's "Wittgenstein's Money" on experiencing the monetization of a truly new monetary good:
https://open.spotify.com/episode/1eVvYlfTRG7zGjkZW8klIE?si=db628c9e11b744f1
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