Early Days Of The Internet Similar To Bitcoin – Bitcoin Magazine


This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, they are joined by Nate of Voltage to talk about how the Lightning Network can transfer value instantly between two parties without having to involve an intermediary. The Lightning Network will allow the Bitcoin network to scale exponentially into the payments world.

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Q: What does “Layer 2” mean? Could we equate it and give examples back to the current internet infrastructure and how we interact with that to make it digestible? I found that explanation is most helpful.

Nate: So the internet is decentralized information. Bitcoin is decentralized money. When the internet was first being put together by geniuses 40-50 years ago, they [engineers] were just excited to pass bits and bytes to different college campuses. None of them had any idea of music streaming, video streaming, what we’re doing right now, none of that was possible.

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