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Adam Back and Balaji Srinivasan examine the rapid growth of Bitcoin adoption around the world, which is outpacing expectations.
On the "Bitcoin Magazine Podcast," Adam Back and Balaji Srinivasan look back on the early days of Bitcoin and talk about how people are now using Bitcoin more and more.
As he says, "I think we can see that Bitcoin is being used in Nigeria, India, and around the world." South America didn't need a lot of persuasion to get Bitcoin because currency crises were a common thing there and they still are a common thing there. He knows why people in those countries have been more interested in Bitcoin than people in other places.
When you see how far Bitcoin has come in such a short time, it can be a little weird. When it comes to the role of Bitcoin in the world, Srinivasan says that "on one level, you have to step back and realize that this thing was less than $1 billion and was just the dream of some people on a message board. Now, it has had an impact on every government in the world."
Hashcash was mentioned in the Bitcoin white paper. Back has been a part of Bitcoin since the beginning. A quote from Back: "It does seem like the adoption is being fostered and it's gaining acceptance with more people than we would have thought."
Back talks about the many announcements from institutions that are releasing products, governments that are clarifying rules, and city governments that are making policies to bring development to their area. "I think it's because there are so many open networks." People can do whatever they want with open networks because there are no rules. He says that even the internet can't keep up with the pace of new ideas. It will be interesting to see how quickly people start using it in the next few years.
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