Jeff Booth: Everything They Told You About Money Is Wrong
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Bitcoin should be viewed as a protocol like TCP/IP rather than a consumer technology - the base layer must remain simple and ossified to ensure security, while utility and scaling are built on top through secondary and tertiary layers.
“When people are comparing Bitcoin right now to the internet, they need to compare Bitcoin as the first layer to TCPIP, which was 1969.”
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Secondary layer networks are rapidly maturing into professional-grade infrastructure - the reliability of the Lightning Network has transitioned from a 65% success rate to over 95%, signaling an inevitable move toward 99.999% uptime as the stack ossifies.
“And today, [Lightning] is over 95% and it's increasing. But payments need to work all the time. It needs to be 99.999. And so you have this payment network now on top.”
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Physical energy constraints prevent the systemic co-option of the network - unlike centralized tokens or legacy finance systems, Bitcoin's base layer is anchored by energy, ensuring that institutional interest or government adoption cannot easily alter its core decentralized principles.
“The base layer of Bitcoin is an open, decentralized and secure protocol bounded by energy.”