Is Bitcoin evolving into a universal, all-use currency? Lyn Alden (Pt. 2/2)

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Bitcoin is rapid emerging as a feasible type of settlement, many thanks to enhancements in its transaction speeds and decreases in expenses from layer 2 repayment methods like Lightning Network, but its energy as a currency makes more sense in some situations than others, claimed Lyn Alden, creator of Lyn Alden Financial Investment Approach.

" The challenging point [in El Salvador] is that since they're underbanked, it's sometimes actually easier to get a cheap smart device than they can obtain a checking account, so when you have a cost-free Bitcoin pocketbook on an economical cell phone, that in fact can make transacting easier in some cases," Alden told David Lin, support for Kitco News. "There is volatility threat, but a great deal of them can convert back to dollars if they decide they do not wish to hold large amounts of Bitcoin."

Follow David Lin on Twitter: @davidlin_TV ()
Follow Lyn Alden on Twitter: @LynAldenContact ()

0:00 – Why did El Salvador legalize Bitcoin
3:20 – Bitcoin as a form of payment
5:00 – Issuing sovereign financial debt in Bitcoin
7:20 – Why Bitcoin and also gold are popular
9:37 – Bitcoin vs gold as money
12:26 – Gold and Bitcoin's core functions
14:26 – Financial investment techniques for gold & Bitcoin
16:07 – Cost expectation
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