89. Disrupting the global payments industry with Jack Mallers

In this episode Saifedean talks to Jack Mallers, CEO of Strike, about how the Lightning Network is disrupting the global payments industry. Jack explains how international remittances work, why they are so costly and why the industry cannot compete with Lightning-based solutions. He and Saifedean then discuss how bitcoin is helping El Salvadorians transition from using cash to using bitcoin, whilst bypassing commercial banks. They also cover Jack’s role in helping to introduce Lightning tips to Twitter and Strike’s new “Pay Me in Bitcoin” application. In the Q&A, Jack takes questions on Strike’s expansion into Europe, who he would most like to “orange pill”, and which countries are likely to make bitcoin legal tender next.

0:00 Welcoming Jack Mallers 
1:45 How does Strike work?
6:11 Exchanging Fiat and Bitcoin
9:00 Scaling Bitcoin
13:00 You decide if you want Bitcoin or Dollars
15:30 Transferring value via a digital bearer instrument
19:30 Building upon an open network 
30:00 open vs. centralized networks
26:00 Lightning disrupting traditional companies
31:30 Concerns about the Lightning Network
40:30 El Salvador adopting Bitcoin 
50:00 Banking the unbanked
50:40 Visa is losing. Bitcoin is winning
53:40 Twitter lightning tipping 
01:02:00 Pay me in Bitcoin 
01:06:00 Why Bitcoin is the solutions for Athletes & Millenials
1:12:00 Securing your future with Bitcoin 
1:15:00 Orange Pilling Mark Zuckerberg
1:18:30 Can El Salvador go back to the Fiat Standard?
1:22:00 Lightning Network at full adoption
1:26:00 Countries adopting Bitcoin
1:31:00 Getting into debt on a Fiat Standard
1:35:00 How Strike offers banking so cheap
1:41:00 Wen Europe Jack?
1:45:00 Other second Layer Solutions
1:50:00 Bitcoin Regulation
1:52:00 Strike going public


Jack’s Medium post Pay Me in Bitcoin:
https://jimmymow.medium.com/announcing-pay-me-in-bitcoin-455f4fa0a0e4
Jack’s Medium post Announcing Strike Global:
https://jimmymow.medium.com/announcing-strike-global-2392b908f611
Saifedean’s book The Bitcoin Standard:
http://saifedean.com/thebitcoinstandard
Saifedean’s book The Fiat Standard:
http://saifedean.com/thefiatstandard:

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