YouSaid · the spoken record

Roy Sheinfeld

lines on the record: 54
first: 2024-11-20
most recent: 2024-11-20
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Mainly what we call the inbound liquidity problem. We can talk about that if you want to extend on that later. But another point of friction is also the fact that it does interact with the chain from time to time, meaning in order to onboard to the Lightning network, you need an on-chain transaction to happen. And sometimes channels get closed. And when channels get up close, you need to interact with the chain. And every time users interact with the main chain, it's a cause of friction. because the chains are slow and the chain”
2024-11-20 · We Study Billionaires · BTC209: Bitcoin Lightning Balancing MoE and SoV w/ Roy Sheinfeld (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Of time people kind of confuse the medium of a change with merchant adoption. I think already Bitcoin is a tremendous medium of exchange. But in order to get to a point where it's widely accepted by merchant, we need to scale Bitcoin in order for Bitcoin to be used by at least two orders of magnitudes that it's being used right now. We started the breeze six years ago with the liking that with the emergence of the Lightning Network because we think the best way to scale Bitcoin is by using Bitcoin, meaning Lightning Network is an extension of Bitcoin. It uses Bitcoin as a bare asset and it provides a level of scalability that can be achieved on the Bitcoin mainnet, on the Bitcoin chain, and it works. There are challenges, as you've mentioned, and there are inherent problems to the Lightning Network that hinder the user experience.”
2024-11-20 · We Study Billionaires · BTC209: Bitcoin Lightning Balancing MoE and SoV w/ Roy Sheinfeld (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Entity, we don't know like. which exactly is going to be the ruling entity, but there will be an entity that governs this currency. And the second option is decentralized currency. We think Bitcoin has the best chance of being this decentralized currency. So when you talk about vision debris mission, it's basically to help Bitcoin evolve to be in a place that it will be able to perform the task of a global currency. And that's where we headed. And everything that we do in BRIS is to make sure Bitcoin is capable in performing the task of being a global currency. And it's not easy because Bitcoin is based on the blockchain, the Bitcoin technology is based on the blockchain. And blockchains in general don't scale. So how can you evolve Bitcoin to a place that it will be able to perform the task of money? We tend to call medium of exchange.”
2024-11-20 · We Study Billionaires · BTC209: Bitcoin Lightning Balancing MoE and SoV w/ Roy Sheinfeld (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Okay, easy question to start me off. There's a lot to unpack. So let's take a step back and kind of try to understand what Breeze is trying to achieve. And it's really about evolving Bitcoin to be a global currency. That's basically our mission. If we talk about in this timestance that you're talking about like 10, even 20, 30 years, let's talk about 100 years. What will happen in 100 years? We think there are two options, basically. We think the world will have a global currency, but there are two options on the global currency that will be used in the world. One option is CBDC, one global currency that is controlled by”
2024-11-20 · We Study Billionaires · BTC209: Bitcoin Lightning Balancing MoE and SoV w/ Roy Sheinfeld (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT