Lawrence Summers, previous Chief Economist of the World Bank, former Treasury Secretary, and former director of the National Economic Council, "#Bitcoin may become fundamental to commerce on the Internet"

1:28 PM · May 22, 2021

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Replying to @DocumentingBTC
Maybe via lightning but that's not what makes important
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Replying to @DocumentingBTC
dump it
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Replying to @DocumentingBTC
For someone his age he seems to get it reasonably well. I mean that as a compliment!
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I think he is kind of capitulating to the power of the meme, but I think the consequences of nakamotos solution to the byzantine generals problem goes largely unappreciated. Gold 2.0 is a sad comparison.
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Replying to @DocumentingBTC
Date?
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Replying to @DocumentingBTC
"Am I contradicting myself every other sentence? Yes, I think so!" "Do I know that commerce on the Internet is already the norm? No I don't." "Did I forget gold was separated from state only since 1971? I believe I did." 🤦‍♂️
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How is contradicting himself? Bitcoin may become digital gold, but it won’t circumvent the government. Crypto will also likely play a big role in e-commerce. All three solid points
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Replying to @DocumentingBTC
He kind of gets it. But not really. Conflating bitcoin and crypto is the 2021 version of ‘blockchain not bitcoin’.
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We need to to teach em to be precise. BTC is crypto, but cryto is not equal to BTC
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Replying to @DocumentingBTC
Wow I rarely agree with Summers but glad he’s at least not dismissive
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