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Rumblestiltskin@lemmy.ml

Fed Chair Jerome Powell on 60 Minutes: The US is on an unsustainable economic path (youtu.be)

submitted 2 years ago by makeasnek@lemmy.ml to c/economics@lemmy.ml

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[–] makeasnek@lemmy.ml 0 points 2 years ago* (last edited 2 years ago) (1 children)

Lightning is an international open-source protocol, not something El Salvador made. It's a layer on top of Bitcoin which makes transactions settle instantly for pennies in fees while using the underlying Bitcoin blockchain for security. Similar to how venmo is a layer on top of the existing banking system. El Salvador has no say in how Bitcoin is administered.

[–] opticalbeaver@mstdn.social 1 points 2 years ago

@makeasnek The administration or lack of it is not what makes Bitcoin useless as a monetary currency. Bitcoin is useful for many other things but that's not one of them.