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RE: Once A Bitcoin Critic, Now A Top Bitcoin Whale Maximalist

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Mohawk
@celestal
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Layer 1 doesn't need to be scalable for Bitcoin, it needs to be secure. That's why the blocksize remained unchanged: so that operating a full node -securing the network -remains cheap. Layers on top, like Lightning Network with Bitcoin, will provide the scalabilty and practicality.

People compare Bitcoin or another chain to Visa without understanding that Visa is not a Layer 1 technology but a scaling solution to fiat.

Why Saylor does what he does is because of his understanding of first principles of economics mainly by the Austrian school: the hardest money to produce more (smallest inflation) will end up as the main medium of exchange if you let the free market decide (which we don't have atm with government enforced money). Couple that with security: pre-programmed inflation reduction to zero that cannot be changed by any single entity. That is the perfect storm for Bitcoin as the hardest money that exists.

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