Macro Guru Lyn Alden Says Bitcoin Is The World’s Best Ledger, Calls BTC A Wonderful Tech Revolution – Here’s Why

Macro strategist Lyn Alden says that in a global economy supported by an inflationary system, Bitcoin (BTC) is the best pound in the world.

In a new interview with Bitcoin proponent Peter McCormack, Alden says BTC is the perfect solution to the problems of the current monetary system.

One problem is that we have an inflationary system. This is quite problematic in developed countries. In smaller and developing countries they have much higher levels of inflation on average and usually over a lifetime they experience hyperinflation. They just lose their savings if they held that currency…

Number two is the fact that everything is mostly allowed. You need permission from your bank to do things. In some countries, it is rather benign. In other countries that are more authoritarian, and according to Freedom House estimates – the way they describe it – about half the world lives under something that is classified as authoritarian or semi-authoritarian. Authorization systems are therefore obviously a big problem in this regard.

So the combination of not having developed a fairly open savings and payments technology and having inflationary currencies is really bad for a lot of people around the world.

According to Alden, money is simply a ledger and the creator of Bitcoin, Satoshi Nakamoto, designed the best ledger in the world because of BTC’s portability, verifiability and transparent scarcity.

“I think the best way to describe money is either the most salable commodity or the most commodity-oriented view of money. I think that’s correct. Another way to describe it is that they are great books. Usually ledgers correspond to commodity currencies in history, but this is not required, obviously in the current era. In that sense, the best ledger – the one whose numbers you can’t tamper with, isn’t opaque – the combination of the best ledger with a hardware unit of account in this ledger system is quite a wonderful revolution.

[Bitcoin] is fundamentally faster than gold but more verifiable and harder than fiat. It acts as its own decentralized transfer agent and registrar. It’s wonderful technology.

At the time of writing, Bitcoin is trading hands for $19,950, fixed on the day.

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