Thread by @RabbitBitcoin

1/ Bitcoin Rabbit Digest for @stephanlivera's podcast with @jack and @starkness (SLP52).

Best for: Crypto Beginners

stephanlivera.com/episode/52

2/ Jack Dorsey of Twitter and Square followed the Cypherpunks early on and knew about the Bitcoin white paper at the time it was released: He experimented with the integration of bitcoin into his @CashApp as early as 2014.

3/ Dorsey believes that Square was one of the first public companies to deal with the SEC around bitcoin. He also believes they have a mission to educate the public about bitcoin and published and the super easy to understand ‘My First Bitcoin’ (cash.app/bitcoin)

4/ Bitcoin was born and has evolved on the Internet. Despite strong adversarial headwinds in the early years Bitcoin today has a very strong brand and is an every day household concept in the world.

5/ The #LightningNetwork as a second layer technology on top of the base-layer of Bitcoin seems to be a natural combination with open communication platforms like Twitter.

6/ Lighting opens the door for new kind of monetary transactions on the Internet where people can send very small amounts and pay instantly and globally without an intermediary. This is not possible with traditional payment services today.

7/ Speed is key for sellers and merchants. Lightning transactions are faster than the eye can see. Compared to 10 minute blocks times this is a huge improvement for bitcoin as a currency for transactions.

8/ A lightning invoice already fits into the 280 character limit of a tweet. There might be additional integration with lightning and bitcoin in the future of Twitter.

9/ Lightning is changing existing payment models. It is beginning to introduce a pay per service. For instance you could pay micro transactions automatically for things like pages read our songs heard.

10/ The recent lighting torch is another phenomena showing that even money can go viral. Check it out at #LNTrustChain.

11/ Noteworthy quotes:
@jack : "The majority of the financial industry doesn’t reflect much on humanity. It doesn’t allow much personalization"
@starkness : "Lighting is programmable money on top of bitcoin"

12/ More quotes:
@jack : "The beauty of the Bitcoin community is that it’s open. We have to let go of our ideas of owning protocols and ways of working, but contribute."
@jack : "Among all cryptocurrencies, bitcoin wants to be a currency the most."

13/ Bitcoin and Lightning have the potential to be foundational to the Internet and society as a whole.