The ultimate goal for Bitcoin is to establish "Bretton Woods 2.0", where the countries use Layer 1 and the citizens use Lightning Network - for their settlements.

In original version of Bretton Woods - the fiat money was circulating and it was theoretically exchangable to gold at constant $35/ounce rate, this way imitating the circulation of gold. But this system was based on Trust - and that's the clear reason why it finally collapsed.

In "Bretton Woods 2.0" there is no Trust involved, just because Bitcoin itself is circulating there - so there is no risk that some country cheats the rest and the system will collapse like in a prototype.

Countries make settlements with each other on the first layer (usually big transfers). Citizens of these countries suddenly gain access to banking and make settlements with each other on the second layer i.e. Lightning Network (cheap, fast and with almost unlimited throughput)

El Salvador and Central African Republic - may start this Paradise right now...

Submitted June 06, 2022 at 04:01PM by jk_14r https://bit.ly/3Mrex2W