Scaling Bitcoin with Giacomo Zucco, John Carvalho & Matt Corallo - WBD758

Mr Obnoxious

Peter McCormack

Technology, News, Politics, Money, Investing, Finance, Bitcoin

4.8 • 2.7K Ratings

🗓️ 9 January 2024

⏱️ 107 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Giacomo Zucco is a Bitcoin educator, John Carvalho is CEO of Synonym, and Matt Corallo is a Bitcoin Core developer and open-source engineer at Block/Spiral. In this interview, we discuss how to scale Bitcoin while maintaining self-sovereignty.

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The best way to scale Bitcoin has been a hot topic since its inception. Whether it be through Bitcoin-backed banks as Hal Finney suggested back in 2010, increasing the throughput on the Bitcoin blockchain, layer 2 solutions like the Lightning Network, or federated custodian options like Fedimints.

Over the past year, the surge in Bitcoin transaction fees, largely attributed to the emergence of BRC20 tokens, ordinals, and inscriptions, has once again brought the topic of scaling Bitcoin to the forefront of conversation. High fees have priced smaller transactions out of the market, and the Lightning Network, hailed as a potential solution to scalability challenges, has faced some initial hurdles.

The different scaling solutions all have different trade-offs. Trustlessness and trust minimization are key tenets of Bitcoin, ensuring that users do not need to trust any central authority or third party. The Lightning Network aligns with these principles as it enables trustless, peer-to-peer transactions, reducing the need for custodial services and enhancing individual control over funds.

While Bitcoin's primary focus is on decentralization and self-sovereignty, some developments, such as the concept of the "Wallet of Satoshi" or Bitcoin ETFs, aim to make Bitcoin more accessible and user-friendly to a broader audience. Wallet of Satoshi is a custodial Lightning wallet designed to simplify the user experience, while Bitcoin ETFs provide a means for traditional investors to gain exposure to Bitcoin without directly holding the asset. These developments have the potential to expand Bitcoin's adoption, but may raise concerns about centralization and counterparty risk.

Show notes: https://www.whatbitcoindid.com/podcast/scaling-bitcoin-with-zucco-carvalho-corallo

This episode’s sponsors:
Iris Energy - Bitcoin Mining. Done Sustainably
Bitcasino - The Future of Gaming is here
Ledger - State of the art Bitcoin hardware wallet
Wasabi Wallet - Privacy by default
Unchained - Secure your Bitcoin with confidence
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Transcript

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0:00.0	Within the Bitcoin mission, all of that stuff is a lot.
0:07.0	There is no gray. It is entirely black and white.
0:10.0	You are either self-sovereign or you are not.
0:12.0	And if you want to have conversations about banking technology,
0:16.0	custody technology, but that's your interest great.
0:18.9	Just leave it out of my Bitcoin conversation.
0:21.6	Hello there, how are you all doing?
0:24.0	Crazy times of Bitcoin right, look at that price.
0:26.0	I think we tagged 47K yesterday.
0:28.0	It's crazy E.T.
0:30.0	We're going to go and hang out a pub key, hang out with
0:35.6	Bitcoiners. Talk about what this means for our crazy little world. Also, our conference is coming up. Cheek Code. It's happening in April in Bedford tickets
0:44.2	are sending well I'm really really excited about that. It's going to be a
0:47.3	conference but we're going to have football it's going to be a great couple of
0:49.7	days. If you want to find out more about that, please head over to cheatcode.
0:53.7	K.kod. UK.
0:55.2	Anyway, welcome to the What Bitcoin did podcast, which is brought to you by the legends
0:58.6	RS Energy, the largest NASDAQ listed Bitcoin miner using 100% renewable energy. I'm your host
1:04.4	Peter McCormack and I have an amazing lineup for you today. I've got
1:07.7	Jackamozucco, John Cavallo and Matt Corrello all on the pod together to try and answer a question I've had for some time.
1:15.0	Right, if you've been following the podcast, you will have heard me ask a few people if you can ever be fully self-sovereign.
1:22.0	If you don't own a UTXO and this has opened up a wide range of discussions
	...

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