Macro guru Lyn Alden says Bitcoin is the best ledger in the world, calls BTC a wonderful technical revolution – here’s why

Macro strategist Lyn Alden says Bitcoin (BTC) stands as the world’s best ledger in a global economy propped up by an inflationary system.

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

“One problem is that we have an inflationary system. This is problematic enough in developed countries. In smaller and developing countries, they have much higher levels of inflation on average, and they usually experience hyperinflation at some point in their lives. You will only lose your savings if you hold this currency…

Number two is the fact that, for the most part, everything is permitted. You need your bank’s permission to do things. In some countries this is quite harmless. In other countries that are more authoritarian, and as Freedom House estimates – as they present it – about half the world lives under what is classified as authoritarian or semi-authoritarian. Authorization systems are obviously a big problem in this respect.

So the combination of undeveloped savings and payment technology, which is quite open, and inflationary currencies is really bad for a lot of people around the world.”

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

“I think the best way to describe money is either the best-selling commodity, which is the more commodity-oriented view of money. I think that’s accurate. Another way to describe it is that they are ledgers. Normally, ledgers correspond to commodity money in history, but obviously they don’t have to, in the current era. In that sense, the best ledger – the one where you can’t falsify the numbers is not opaque – the combination of the best ledger with a fixed unit of account in this ledger system is quite a marvelous revolution.

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

At the time of writing, Bitcoin is exchanging hands for $19,950, flat rate per day.

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