Bitcoin, Not Crypto — Part III: Everything Will Be Built on Bitcoin

Parker Lewis tag-teaming with Dhruv Bansal is like having F.A. Hayek & Carl Menger in the same room.

The more I hear about bitcoin, the more I learn. The more I learn, the more I want to live in a bitcoin standard world.

"Everything will be built on Bitcoin"... agree, but BTC is NOT Bitcoin!!

Great presentation

Thank you for info for entry into BTC ideology and into the network

To say bitcoin is not crypto is patently false when it uses sha256. Cryptography is one of the key ingredient of bitcoin.

if there was a Q and A I think it would be cool to hear the answers.

It will not be built on bitcoin. It will be built on xrp!!! Bitcoin to slow and use to much energy

Building on btc will sacrifice security and decentralization. Keep it as digital gold. Let Kaspa do the rest

Where do all these idiots come from? No, Bitcoin will NOT rule the world. 😜

Neither Russia, nor China or The USA want to give all their money or control away to some rich, programming nerds on the internet.

"Fairy tales..."😂

Everything can't be built on BTC. It can be valued based upon it's intrinsic worth. But, it doesn't move fast enough for AI integration. Plus, the fact that you allowed ETFs in BTC dilutes its immutable properties. It's no less manipulated than gold because of paper gold.

OK, if everything will be built on Bitcoin, then why was ISO20022 built on Ripple technology using the XLM communication language? Unless you mean that Bitcoin was created to pioneer the new financial system ISO20022, which has been built for a long time ago, and all countries except the USA have gone through 4 phases of integration

Kaspa will do this job

Bitcoin has no use case it is slow and expensive

👏 👏 👏

Guys I’m from Mexico I will love to spread the message on Spanish language, I feel that we don’t have guys like you spreading the BTC message on español language. Hit me up.

Amen. Ripple and everything else going to 0 in BTC terms.

Just look up the XRP/BTC price chart, change duration to "all," and see for yourself.

XRP and every other centralized sh!t coin was created to make insiders wealthy, and will continue to lose value to BTC because they don't have a halving cycle or any other properties that make BTC priceless in Fiat terms.

I’d say it’s built already and only needs implementation.

Everything will most certainly not be built on Bitcoin. Its not even close to being able to scale enough for that to be feasible.

Don't get sucked into bitcoin-maximalism, fellas

if there was a Q and A I think it would be cool to hear the answers.

surprise!!! not everything will be built on bitcoin 🤣. nice try

Model T will be the only car used for all time. There will be no other cars. See how fucking ridiculous it sounds?

You must mean ethereum

BSV is bitcoin. These fools are talking about BTC which has been crippled on purpose and requires layer twos

Epic!

Digibyte is so much better in every way.

There was a time when everything was built on Gold and silver. Then came the era of Fiat currency which is now totally eroding. We are now in the era of digitalised world and prosperity for all. Those who can't and wouldn't comply will be swept away by the coming change. Change doesn't mean 666 or what it stands for. That's only the belief of a section of the Christian.

Epic and well done!

But I’d be interested in a deeper dive as to what traits/attributes of bitcoin are necessary but not sufficient.

Is Bitcoin’s finite supply (when creation ceases) both a necessary AND sufficient attribute for its “success” as the best money?

Dhruv and Parker make a compelling case that finite supply is a necessary attribute. But I don’t understand if they are making the case that it is a sufficient attribute.

Parker makes the argument that for a money to succeed, it must converge to one - meaning that a significant (>99.9%) of value transactions are conducted in a bi-directional exchange in this successful money. Good argument. Judging by the transaction % across the world, maybe the USD (dollars in circulation, credit and Eurodollars) can claim 50%? By his argument, the USD is not a best money. Indeed, neither is gold or silver or any other currency ever created and distributed.

What are the elements of the SET of attributes of Bitcoin that are both necessary individually and sufficient as a whole that point to Bitcoin’s eventual “success” (>99.9% usage in any and all bidirectional value exchanges?

Jeff Booth has his list, but he doesn’t make the claim that his list is collectively sufficient towards Bitcoin’s eventual success. But his list seems more comprehensive than the “three ideas” presented in these three presentations.

Booth’s attributes: open, secure, de-centralized, protocol, secured by energy. I don’t know where he places “finite” supply. And he never makes the claim that his five attributes are collectively sufficient.

Between Dhruv, Parker and Jeff, the necessary “list” begins to become more evident. Whether the coinbase verification process by nodes is its own necessary attribute or whether the combination of mining and verification is part of “protocol” is blurry.

I think that for genpop to better understand bitcoin as a better money, it’s important to drill down into at least two other moneys: gold and fiat, from birth to death of each “coin”. From this breakdown, the virtues of bitcoin over these two moneys will become more evident and the necessary and sufficient list of bitcoin attributes for success can be accreted.

No one believes everything built on blockchain is decentralized. They use blockchain for its efficiency and reliability to build technologies. You said yourself those other tokens all link back to bitcoin transactions. Projects built on UTXO will be able to mix with Bitcoin and the lightning network in the near future, then you're really going to be upset lol.

Bitcoin is the future of everything.!

This series is so good. Thank you to all the phenomenal presenters that made this happen!

The only part is if there is a finite supply, from a consumer standpoint, how do you obtain more in order to pay for more goods and services?

Bitcoin maximalists are as bad as the legacy financial institutions we’re trying to escape from. Stop this Bitcoin is the ONLY way closed minded crap. Its not functional, not programmable, expensive to transact in, and is ONLY a store of value and thats it. Sick of these close minded BTac clowns

How does lightning network deal with money laundering? I feel like if Im a node Im now some kind of money transmitter.

Dream ahead - you all getting CBDC. You all getting controlled. And none of you they let get rich anymore. And if? Your countries will robbing you like with fiat currencies. Tax, tax on tax and everything public for govs to look inside your wallets aso. And AI will do the rest. Very easy!

Best bitcoin education videos ever. Great job guys. Thank you for your efforts and dedication to this. It is saving the world ❤

BTC is a sandplatform .. we can't build on sand !

Yall slow asf , just like bitcoin if u rlly think they gona use BITCOIN in a heavily regulated scenario, or tbat insitutions and others would use such a slow unreliable coin to move sm money😂😂😂

I don’t understand the logic behind your statements that btc will be THE money of the future.. if btc goes to 1 million/coin like it’s supposed to, WHY ON EARTH WOULD ANY HOLDER SPEND IT ON EVERYDAY THINGS?!!!! That would be like pizza day all over again! With the rise of btc financial institutions people will just get a low interest loan against their btc AND NEVER HAVE TO SELL IT! There is no way I will use my btc to buy everyday goods when I can use fiat!