What Bitcoin Did

View Original

No Escape from Bitcoin's Gravity with Nik Bhatia

Interview | Description | Timestamps | Show Notes

See this content in the original post

iTunes | Google | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed

Your browser doesn't support HTML5 audio

No Escape from Bitcoin's Gravity with Nik Bhatia - WBD281 Peter McCormack

Download Episode MP3 File
The file will open in a new window. Click down arrow to download the file.



See this content in the original post

Location: Remotely
Date: Wednesday 18th November
Company: USC Marshall School of Business
Role: Adjunct Professor of Finance

After dropping to lows of ~$4000 when markets went into freefall following the coronavirus outbreak, Bitcoin has bounced back to a near to all-time high of ~$18,500.

The impact of the pandemic on the economy has been a massive increase in government borrowing and money printing. This response has highlighted the importance of scarce assets which can't be debased. 

Gold has historically been the safe-haven asset that money flows into during times of uncertainty. However, many are now turning to Bitcoin, and it is quickly eating into gold's market share.

In a world of fiat currencies, gold and the impending rise of central bank digital currencies, where does Bitcoin fit?

Nik Bhatia has written Layered Money a book looking into this that will be released early in 2021. We discuss his book, where Bitcoin fits in the monetary system, the history of government control over money and central bank digital currencies.


See this content in the original post

00:04:52: Introductions
00:05:23: Nik's book, "Layered Money"
00:09:50: The concept of layered money
00:14:46: The history of money
00:17:35: Why gold was used for coins
00:19:05: The Gold Florin
00:21:52: The Antwerp Bourse
00:25:48: First government involvement in "money"
00:26:47: Founding of the Bank of England
00:28:45: The original "pound sterling"
00:32:34: The conversion to the pound note
00:34:24: Instability of South American currencies
00:35:31: The American "Greenback"
00:38:40: Governmental control over money
00:42:42:
Bitcoin's scarcity characteristic
00:45:22: Bitcoin vs gold
00:51:48: Central bank digital currencies
00:56:36: Bitcoin's volatility
01:01:04: Secondary consequences of involvement in Bitcoin
01:04:29: The Lightning Network and HTLCs
01:11:09: CBDCs versus Bitcoin
01:17:13: Bitcoin's time has arrived
01:20:27:
Final comments


See this content in the original post

SUPPORT THE SHOW

If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.


SPONSORS


See this content in the original post

See this content in the original post