How Money & Banking Work (& why they're broken today) - Lyn Alden
youtu.be
In this 30-minute explainer video, Lyn Alden takes a step back through history and looks into the intricacies of money and banking, offering an answer to an ...

cross-posted from: https://lemmy.ml/post/17303063

An enlightening and high quality video on how money and the banking system work, why they are corrupted and what is the solution.

  • jarfil@beehaw.org
    1·
    3 个月前

    As Bitcoin has grown, transactions have become slow

    Except for Bitcoin Lightning Network:

    https://en.m.wikipedia.org/wiki/Lightning_Network

    it is possible that transaction fees will need to be raised to compensate miners.

    That’s been the plan from the beginning.

    Mining halving has been defined with a rough estimate of adoption, volume, and technological advances. It’s why Lightning Network was developed, and why Ethereum has switched to a Proof-of-ownership mining scheme.

    The estimate is rough and quite inflexible, which has lead to cyclic fluctuations around the period of halvings… but from a long term perspective, it has been working reasonably well for the first 10% of Bitcoin’s starting period.