 How do you see those unbanked people who don't have access to classical financial instruments? How do they get to crypto? Well, they get to crypto not by buying crypto. They get to crypto by earning crypto and And that is the fundamental shift in in your mentality you need to make which is the idea that this is an investment in order for it to operate as a currency you have to use it as a currency and Don't get me wrong right now You can't let's be direct Bitcoin right now on its base layer. It does not scale enough to be used as a retail currency It is very useful for cross-border transactions. It's very useful for import-export businesses. It's very useful for outsourcing It's useful for store value. It is not useful for buying a cup of coffee and As Jacomo said blockchains are never going to scale in the base layer But Bitcoin can and it's going to be a combination of both second and third layer scaling as well as Base layer scaling Will increase the block size again already did we'll do it again if necessary not to support Bear transactions, but to support more second layer scale on the base layer when necessary And I don't think anyone is really opposed to that except for a few very few outliers How do we get the poor on this? We make it better. We make it bigger. We make it faster We make it more secure. We make it easier to use we add complexity in the back end to remove complexity from the front end we create Complex systems that are easy to use There's this real fallacy and engineering that the way to build simple to use systems is to make those systems simple and to make the simple choices in In fact most of technology most of engineering is a series of inherently unbelievably complex things Each of which took decades to build each of which was unimaginable at first each of which required people to overcome this unthinkable nature of the complexity to build entirely new Sciences professions disciplines If you go to someone in the early 19th century and you say well electrify the world and even poor people will have a better time They'll just do the quick math in their head and they will write a PhD showing you why there's not enough copper in the world to do what you want to do Why there's not the possibility of creating enough electrical energy why you cannot distribute it why the Infrastructure upgrade is unthinkable if you introduce to someone the concept of an automobile And you say well in order to make this happen We just need to design redesign every city in the world and repave all of the roads all 7 billion miles of them, but don't worry We'll do it in 40 years That's not gonna happen. That's ridiculous. Can you imagine the amount of money that would take and this? Internal combustion engine there's all of these bits that move up and down and it's electrical and chemical at the same time Look horse is a simple eat. Hey poop. I Don't know why you want to do this heavy engineering lift to bring this technology Complex technology Can create simple solutions and in the background it's unimaginably complex Most people don't understand how it works. That's okay That's what specialization is all about. I was at the internet conference in Stockholm last week an Audience of about 8,000 people all of them internet specialists engineers, right? Or most of them and I asked the question of the audience How many of you understand how BGP works? So I'll ask this audience as well. How many of you understand how BGP works. I'll put my hand up because I do great Maybe 20 hands went up in an audience of maybe 150 people How many of you use the internet? Never mind You do not need to use the internet BGP is unimaginably complex and Itself rides on top of a routing infrastructure that is unimaginably complex And there are lots of people who love that and work in that day in day out There's someone out there who is tweaking BGP routing tables every hour of every day of their life And they just love it, and I'm thankful they're doing it. So I don't have to The bottom line is that we will scale and it will be unimaginably complex And if you try to read the lightning paper or drive chain paper or nimble wimble or side chains or any of these papers like me You read it three times understand 10% of it. That's if you have a master's degree in computer science and Then you ask the creators to explain it to you so you can put it in your book Okay, that may be a rather narrow example, but that's what happened to me. I Don't need to understand it in order for it to work and the way we get to poor people is through a Relentless process of optimization and scaling that will take decades That will gradually take the cost of a transaction to the marginal cost of zero and it will take the capacity of this network to billions of Real peer-to-peer trustless private confidential transactions per second and if they're not private and Confidential, I don't want them That's how we're going to do it. It is possible It is just as possible as bringing Skype over 3g to a village in the Amazonian basin On a $20 Android phone, which is happening now, and if you told me that was gonna happen in 1993 I wouldn't believe you even though I was building part of it The reason you can do video conferencing to the furthest reaches of the world Had nothing to do with bigger pipes It had everything to do with two inventions that came out of a small German research Institute called the Fraunhofer Institute of Technology, which invented MP3 and Perceptual lossy compression in the mid 90s We didn't make the pipes bigger. We made the videos smaller much much smaller So that gives you an idea of where I stand on the scaling debate. Yes We have to make the pipes a bit bigger But we have to make the data a hell of a lot smaller and there's a lot of smart people working on that We haven't even scratched the surface yet. I'm not ready to give up