"Simple “bubbles” don’t survive through several 70%+ drawdowns over a period lasting thirteen years and counting; it looks more like Metcalfe’s law of network adoption at this point. That doesn’t mean it is without risks, but it means it should be studied and understood rather than dismissed, to see what it is about this network that allows it to keep growing through resistance." - Lyn Alden
After about 20 requests we are finally diving into Lyn Alden's incredible piece on Bitcoin's evolution from secure store of value, to global medium of exchange. Lyn takes us through a brief history in the context of Bitcoin's success and trade offs, to the merit of its scaling philosophy, how the Lightning Network accomplishes that and what it means for Bitcoin's present and future. We will try to get through this in 3 parts, starting today with Part 1, of "A Look at the Lightning Network."
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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