August 03, 2023

Building and Scaling: a Bitcoin Conversation

1 hour 17 minutes

Since inception, ARK has researched and published thoughts on the cryptocurrency ecosystem within Big Ideas and through articles, whitepapers, monthly Bitcoin reports and podcasts. Now, in coordination with Bitcoin Park, ARK is pleased to introduce a monthly conversation with leaders in the Bitcoin space, to discuss everything happening in the rapidly-changing and still nascent Bitcoin ecosystem. Published through the For Your innovation podcast channels, this monthly series aims to be informative and enlightening, including experts with diverse viewpoints.

Guests on this month’s Bitcoin Brainstorm include:

Preston Pysh – Show Host and Co-Founder, The Investor’s Podcast Network and Advisor, Ego Death Capital

Jack Mallers – CEO and Founder, Strike

Obi Nwosu – CEO and Co-Founder, Fedi

Rod Roudi – Co-Founder, Bitcoin Park

Harry Sudock – Chief Strategy Officer, GRIID and Partner, Bitcoin Park

Cathie Wood – CEO, CIO and Founder, ARK Invest

Yassine Elmandjra – Crypto Lead, ARK Invest

Key Points From This Episode:

00:00 Intro to the Bitcoin Brainstorm and Bitcoin Park in Nashville

4:30 Our panel discusses Jack Dorsey’s thoughts on Bitcoin as the currency of the internet

8:30 Dr. Art Laffer’s discovery and interest in Bitcoin

10:30 How Bitcoin can potentially benefit communities like those in Kenya

19:00 What countries are moving the fastest to adopt Bitcoin as a currency and how does the global south view Bitcoin generally

26:20 Jack’s thoughts on the modern day monetary policy and why it may be destroying the middle class

28:31 Why Bitcoin might be too volatile for many people living in poverty, but crypto solutions like stablecoins could be a better option

30:35 Potential routes of scalability for Bitcoin, including the potential for a third layer, beyond Lightning

35:20 Comparing Visa’s network to the Lightning network and the argument that Bitcoin does not have a scaling problem

39:26 How Jack Dorsey and Block are working to grow the Lightning network

44:39 The cooperation that exists within the Bitcoin ecosystem and why

49:10 Bitcoin’s role in enabling businesses to reach more people globally

54:38 The comparison of Lightning channels to traditional fiat channels

56:30 Why Bitcoin might be the most inclusive currency

01:00:49 How Bitcoin could be unlocking a new customer that was otherwise unwilling to bank, similar to how Robinhood unlocked a new investor base with lower barriers to entry

01:03:42 The ability to focus on markets that other people are unable to focus on may be one of Bitcoin’s most valuable current features

01:06:15 Obi’s recounting of Gridless, a Kenyan Bitcoin mining company that has transformed villages in Africa

01:10:00 Preston’s comparison of Bitcoin to Mitochondria

01:11:02 Conclusion, and final thoughts from Harry, Preston, Obi, Yassine, Jack and Cathie

Show Notes:

June ARK Invest Bitcoin Monthly – https://twitter.com/dpuellark/status/1676733038674190338

Money Matters Podcast with Jack Mallers and guest Jack Dorsey https://podcasts.apple.com/us/podcast/ep-1-jack-dorsey/id1695949365?i=1000619425244

Ai4ALL Hackathon – https://bolt.fun/tournaments/ai4all/overview

To learn more about Bitcoin Park – bitcoinpark.com

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