Goldstein: Bitcoin won’t just be an asset for the dark web

Anthony Pompliano, a well-known Bitcoin enthusiast interviewed Michael Goldstein in the latest episode of his Off The Chain podcast. Goldstein, President of the Satoshi Nakamoto Institute, exchanged views on the current state of Bitcoin and how it has progressed over time, for everyone in the community. Goldstein reported that he remained committed to the core idea of Bitcoin. He also suggested that the ‘hardest soundest money’ in Bitcoin could dominate the financial landscape, and not just remain a monetary asset for the “dark web.”

He said:

“The economics show that it can have much more ambition than that and in fact, we should have that ambition because I believe, it brings so much value to society.”

Pompliano interrogated Goldstein about how he would retaliate Bitcoin’s critics over the fact that only a few of them hold the majority of Bitcoin in circulation. In response, he stated that the metric is not exactly accurate and one address cannot be identified to one single user. He said: 

“You might look into an address which has 10,000 BTC, but that might just be a cold storage of some exchange. It’s concentrated in a place where many people have created an entire market for Bitcoin so it's not really accurate to say that it is a specific person.”

He added that the Bitcoin’s ecosystem does not need a specific amount of investment provided that people were engaging in the marketplace and “stacking sats.” As per Goldstein, Bitcoin is cited as money in the monetary system and be an asset that can be a hedge against future uncertainty.