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AMA: Bitcoin at scale is all about micropayments—here’s why | Dr Craig Wright | #LDNBlockchain23
Join Dr. Craig Wright as he explores the future of Bitcoin, discussing micropayments, data propagation, and digital scarcity.
- Bitcoin at scale is about micropayments, which is a concept that is often misunderstood.
- Bitcoin is not permissionless, as Craig Wright does not choose to allow every transaction.
- Decentralization is not the same as peer-to-peer communication.
- The law is necessary to ensure that people follow the rules, but it’s not the same as Bitcoin’s protocol.
- Data centers are not required for the internet, and they can be replicated using Raspberry Pis.
- The Merkle tree structure is a fundamental part of Bitcoin’s protocol.
- Scaling Bitcoin requires fast and efficient data propagation, as well as the ability to make transactions anonymously.
- The concept of ownership is central to Bitcoin, as it allows people to have control over their own data.
- The idea of digital scarcity is important in Bitcoin, as it allows for the creation of unique digital assets.
- The problem of micropayments is not limited to Bitcoin, but is a broader problem that affects many industries.
- Craig Wright believes that the future of the internet will be shaped by the creation of a global village.
- Bitcoin is not a research project, but rather a technology that has the potential to change the world.