The Brief for August 10, 2020
Happy Monday, all. I have a video and three articles to share this week.
First, watch my most recent YouTube video, posted a few days ago. Live TV, no edits, no retakes!
Tap this video below:
Next, check out these articles:
Bottom line: Blockstream released some major upgrades to the Lightning Network.
My take: Anything to boost bitcoin’s operational performance without increasing block size is good in my book.
Why we care: As bitcoin goes, the whole market goes. Even if Lightning Network never succeeds, people will need reasons to stay invested despite bitcoin’s scalability problems. If LN is that reason, all the better. And hey, these upgrades may just lead to breakthroughs in bitcoin’s usability and suitability as the backbone for merchant products and public payment systems.
Bottom line: a crypto exchange is going public on a major stock market.
My take: won’t be the last.
Why we care: every public listing, regulator approval, banking relationship, corporate partnership makes cryptocurrency feel safer and more legitimate. If you want lots of people to feel comfortable investing in bitcoin and altcoins, you need them to think what they’re doing is safe and legitimate.
Bottom line: China’s government will use blockchain to manage the exchange of bank notes and banking assets.
My take: one more step into the future for China, one more reason for everybody other country to step up their blockchain efforts.
Why we care: the more blockchain gets used for “legitimate” purposes, the easier it is for your average person to believe cryptocurrency is legit, too—or better yet, inevitable. People don’t like putting money into risky, speculative things, but they like having a stake in the future. “It’s the way everything’s going” is a powerful message.
Relax and enjoy the ride!