Bitcoin, the Lightning Network and Financial Liberty (MisesU)
World Crypto Network
Austrian economists analyze Bitcoin as base money versus certificates (citing Mt. Gox fractional reserves); Lightning Network (payment channels, Tor encryption, penalty mechanisms against state cheating, routing tables) scales Bitcoin off-chain with 10% daily capacity growth but risks centralization via hubs. Among 1,500+ cryptocurrencies, Bitcoin maximalists defend network effects and finite supp

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