AMA: Bitcoin at scale is all about micropayments—here’s why | Dr Craig Wright | #LDNBlockchain23

Discover why Bitcoin's true scaling potential lies in micropayments, enabling transactions under a cent. Explore how decentralization, privacy, legal foundations, and social impact shape Bitcoin's future.

Key takeaways
  • Bitcoin’s true scaling potential lies in micropayments, enabling transactions under a cent.
  • Decentralization is not about permissionless systems but about horizontal scaling and revoking existing rules.
  • Micropayments will make existing things cheaper and more efficient, similar to how dark fiber providers operate.
  • Bitcoin’s global reach and ability to transact across borders will revolutionize how people work and send money.
  • Privacy is crucial in a world where data can be de-anonymized, and Bitcoin offers the ability to control how data is shared.
  • Legal foundations are essential for ensuring stability and protection of the Bitcoin protocol.
  • The Bitcoin Association plays a vital role in providing a vision for the future of Bitcoin and ensuring its continued development.
  • Language and a ubiquitous language are important for global adoption and understanding of Bitcoin.
  • Social impact is a key aspect of Bitcoin, enabling new types of businesses and connecting people across the globe.
  • Hyper-Bitcoinization or total world domination of Bitcoin is not the goal, but rather a world where people can choose how to spend their own money.