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, 8 tweets, 5 min read Read on Twitter
1/7 When Dropbox, Google or Facebook built their empires, they did it on the Internet.

The Internet was built in layers on a multitude of computer network protocols. Notably, the Internet Protocol (IP) made it mainstream.

Protocols just work together: TCP/IP, HTTP, FTP, etc.
2/7 Companies building credit, derivatives, custody or insurance on Bitcoin will win long-term, similar to their homologues that built on top of many layers stacked over IP.

The Bitcoin Protocol (BP) is giving birth to a monetary revolution—also built in layers.
3/7 When Dropbox built their massively successful storage product, they didn’t build their own TCP/IP or FTP, but used public Internet protocols that had ossified over time.

When IP was designed, the protocol couldn’t include many features, which led to other layers.
4/7 The Lightning Network Protocol (LNP) is one add-on to BP.

BP is making performance trade-offs to allow for ledger integrity & accessible verification.

BP is costly to write on (miners) and cheap to read (full nodes), limiting functions, affecting speed/throughput.
5/7 BP must stay decentralized to ensure its rules are not altered by powerful attackers.

Running verification software/hardware must be affordable and simplistic to ensure transaction integrity.

LNP is in charge of adding almost instant/cheap transaction settlement.
6/7 Emerging companies building on top of the LNP/BP stack (or within) will be worth trillions of dollars in the coming decades (in today’s terms, which may be irrelevant by then).

Companies distracted by other “base-layer” protocols will fail. Billions of dollars may be lost.
FIN/7 Learning mistakes in free markets isn’t cheap.

Ignoring historical evidence about the evolution of computer network protocols is delusional.

Never too late to re-route. Bitcoin is most likely the only winning base-layer protocol in 20-30 years.

Why build elsewhere?
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