BTC legend, voted to be the most similar figure to Satoshi, Blockstream founder Adam Back delivered a BTC speech at the Taiwan NCCU Public Enterprise Center on November 19, Taiwan time. (Synopsis: Closest to Nakamoto Satoshi's "Adam Back" speech on stage!) Exchange with Taiwan's Ministry of Data Development and National Development Council: BTC is a universal value) (Background supplement: BTC legend Adam Back is coming to Taiwan!) Once quoted by "Nakamoto Satoshi" into BTCWhite Paper, the leader of the world's BTC development trend) BTC legend, in the past on Polymarket recognized by the world as the most similar figure of Nakamoto Satoshi, Blockstream founder Adam Back attended the 9th Block Chain Enthusiasts Annual Meeting on 11/19 Taiwan time, and delivered a BTC speech at the Taiwan Zhengda Public Enterprise Center. As the core figure of BTC, what to exchange with government officials in Taiwan is also the focus of global attention, the following is the full text of this article for the dynamic area 0xJigglypuff translation: Adam Back: Good morning everyone, BTC is an investment and compare it to gold or other types of investments, as people have noticed, the price of BTC has been rising, which is partly related to the increased accessibility of BTC. By improving accessibility, I mean that it is easier for investors of different types to buy BTC, for techies, they can buy on BTCexchange and save on software and hardware Wallet costs; But for many people, it will be easier to interact with BTC if they can interact with a brokerage firm, so if they can call a broker or use a similar platform, they will buy shares this way, which will be simpler for them. Adam Back: With the introduction of SpotETF in the U.S. earlier this year, making BTC accessible to more people, that's why you see U.S. SpotETFs breaking records and hence one of the fastest ETF growth stories in ETF history, making billions of dollars in a short period of time. In fact, before that, in the history of BTC for the past 15 years, when it started from zero, of course, it was difficult to calculate the starting value, but if you choose the beginning of any year, BTC has outperformed any other asset, whether it is a stock, or even a very good performing company like TSL, Nvidia, Amazon, BTC has outperformed all of them. The price of BTC has been doubling every year for decades, so this has increased a thousand times over a period of time. This is comparing correlation, the chart is too small for you to see, but it is talking about the correlation of BTC with other assets, whether stock indices, bonds or currencies, BTC is sometimes somewhat "uncorrelated" with other assets, making it an interesting asset that can be used as part of a portfolio. Sharpness, sharpness is Fluctuation-adjusted returns, which means that even a small amount of BTC allocations can enhance portfolio returns, and the characteristics of returns can also be good for those who don't necessarily own a large amount of BTC. For a portfolio in general, (as the slide says) like a 9.5% allocation, it's considered a good trade-off, of course, for some people it's 100%, and then we'll talk about some network properties. Adam Back: If you think about BTC like physical gold, which is a newer technology that improves the properties of gold, in the sense that if you think about why people have historically used gold as hard money, as a store of value, it's because it has certain properties. The point is that it is scarce so that it can maintain its value and raise the value of something that is not scarce. If demand changes, of course I can't redraw (the line on the slide) right now, but if demand changes, then the mining ratio will change, but (actually) for scarce things, they can't really mine to increase the rate of extraction. What BTC adds separately from gold is that you can hold it more directly, so you can store BTC in Wallet. Of course, you can do this with gold, but it's more complex, it's physical, not only is the weight heavy, you have to (hire security) to protect it, but BTC doesn't have these problems, it's more digital, you can store it cold. One thing that happens with gold is remortgaged, so people who have seen gold ETFs, it's not unusual for them to have it remortgaged, which means that people running gold ETFs may lend some gold or replace gold with gold related to other assets like gold, such as gold. Other benefits of BTC compared to gold are that you can trade 24/7, and of course you can also trade gold ETFs on your smartphone. Adam Back: There is a niche area in finance called asset protection, and in some countries, some professions are subject to lawsuits, for example, medical professionals may be sued. Sometimes they obviously want to protect their assets, and there are legal means to do that, just like a life insurance policy going backwards to remote areas, different countries have different rules for this, but there are usually ways to protect your assets. In a sense, BTC provides this (asset protection) because it's fairer, and if you're not held in trust to any custodian, it's harder for someone else to preemptively seize your property. But now, they won't let you legally protect it, which means that you know you still have custody and ownership, but you have to wait until (legally) there is a new outcome. So we're going to talk about some, BTC Layer 2, obviously a lot of people have heard of Layer 2, the Lightning Network and Blockstream is a BTC infrastructure company that has been around since 2014, and one of the things we've been looking at is the Lightning Network and Greenlight, which are ways to use the Lightning Network and have lower bandwidth (cost versus requirements) for customers, let's say, It makes a trade-off (between utility and cost): on the other hand, too, many companies are working on lightning-related products, and perhaps four or five different lightning networks are interoperable with each other before. Blockstream has the core execution plan of the Lightning Network, Greenlight is a server-assisted interface with the network, and now Blockstream is more unique in developing network technology is the Liquid Network, which is a different kind of layer 2. With Lightning, it's basically a way to extend suite BTC transactions to make it cheaper, faster, and support more users. Liquid focuses on financial transactions, so investments, stock or bond trading, other types of financial assets and actual transactions Settlement, on the Liquid network, directly support someone to place a certain market order, a user may place a limit order, if BTC falls to a certain price, they want to buy BTC, and then another person can accept the order, the merger transaction can be settled on the Liquid Network. Unlike Lightning, which simply accelerates BTC transactions, the Liquid Network introduces new types of transactions and native support for assets that users, enterprises and financial institutions can issuance, Li...