Everything wrong with Bitcoin in 2020

The Lightning Network’s progressIn this progress report, we revisit the issues highlighted in last year’s review of the Bitcoin ecosystem and see how things have improved, and also highlight completely new developments.I’ve been studying bitcoin since its second year of existence, and treat it as a distinct asset class to highlight how it fits into a broader macroeconomic picture. I have been an advisor to several financial technology firms and employ quantitative analysis for information gathering and trade execution with asset management firms and hedge funds like State Trading Society (STS Capital Group, simply STS) or its subsidiaries like Pareto Network or Blockchain Development Company, which allow the hedge fund to vertically integrate trade data.When it comes to this asset class, there are still people that argue against the concept of Bitcoin, mostly in reaction to one of its sales pitches without ever noticing what this really is. For example, people are likely to debate about the “coin” or “currency” nomenclature of “bitcoin” and “cryptocurrency” respectively. Ultimately, what we have is an asset with a fixed known supply, which has some attributes of all other asset classes, some improvements, is continually updated to have more attributes and improvements, in a world with massive inflation. This is the macro story of bitcoin, the big picture.There are no commodities with a fixed known supply, only estimates that are continually disproven.Part of the growth comes from the reality that people who are not fans of Bitcoin becoming one of Bitcoin’s largest advocates as they have to battle the extreme ignorance of their followers with factual information. Educated arguments against Bitcoin usually result in contributing to make it better, as there are no fundamental limitations to the concept. Uneducated arguments are usually not nuanced enough, and for people that represent large wealthy institutions, Bitcoin…