Bitcoin, not blockchain (E10)
Max and Stacy have made it TO THE MOON. The year is 2019, and they ask, “will bitcoin wreck bankers or will bankers wreck bitcoin?”
Max notes that bitcoin is a system of justice disguised as a get-rich-quick scheme and the Bank for International Settlements is queen of get-rich-quick schemes, just print more money and buy as many Modiglianis as there are available. As bitcoin becomes more and more entrenched, more and more unstoppable, the FUD rises. The latest media FUD against bitcoin is that it is boiling the oceans, to which Francis Pouliot makes the case that bitcoin actually makes energy more liquid which makes energy markets more efficient, so is, in fact, better for the environment. Bitcoin’s journey began during the first days of quantitative easing when QE was supposed to be a temporary experiment to provide liquidity (they said) for the otherwise solvent banks, yet this money printing policy has been made permanent in 2019. Bitcoin nemesis Jamie Dimon also announced his bank’s own cryptocurrency, JPMCoin. So, what about the next ten years? Caitlin Long believes bitcoin will be the high-value cross-border transfer system. Will bitcoin succeed gradually or suddenly while legacy systems crumble? With a separation of money and state, as Trace Mayer says, it is game on. Finally, is it still a good time to get involved in bitcoin? Sinclair Skinner says that now is always the best time.
Guests and archival clips include Trace Mayer, Francis Pouliot, Caitlin Long, Jameson Lopp, Jimmy Song, Elizabeth Stark, Bill Barhydt, Giacomo Zucco, Nozomi Hayase, and Sinclair Skinner.