Will Central Banks Be Replaced By Cryptocurrencies?
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- Geopolitical approach to business and life and war and things that shape our lives
- CFA—Chartered Financial Analyst
- What is happening holistically
- We've been hearing about Bitcoin since 2012
- He didn't look into it until 2016
- Bitcoin is a tool for freedom
Bitcoin is a tool for freedom."
- Bitcoin is not Netscape or Google...it is the internet!
- It's a software protocol and the unit—the money—in that protocol
- It's a set of rules
- The protocol level of Bitcoin can be compared to HTTP or SMTP
- It is nuanced
- It's not a company, it's a set of rules
- "Legacy people" are fun to watch as they change their tunes on Bitcoin
- Jamie Diamond is now all-in on Bitcoin
- Elon Musk is narcissistic, which is good and bad. He's a cult of personality, so let's look at Warren Buffett, etc.
- The legacy money guys don't understand Bitcoin
- Mining, hashrate, the energy...that's what backs up the currency
- It's a computational energy network
- The legacy money guys are afraid of populism
- The internet is a disruptive power and has distributed power as Bitcoin is doing
- Bitcoin empowers the people
- The institutions have to protect themselves from Bitcoin
- The foundation of "Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies"
- Your so-called money falls into a hierarchy
- Venmo balance
- Cash in your pocket
- Wells Fargo savings
- They all have different counter-parties
- "The Inherent Hierachy of Money" by Perry Mehrling, Columbia University, 2012
- Bitcoin is independent of the layered structure
- "Mastering Bitcoin," Andreas M. Antonopoulos
- "Inventing Bitcoin: The Technology Behind the First Truly Scarce and Decentralized Money Explained," Yan Pritzker
- He hasn't been able to verify why Ethereum is money
- He expresses his opinions by positions
- Go buy $10-$20 of Bitcoin and download a smartphone Bitcoin wallet and practice sending yourself money from the exchange
- Have a friend download a different wallet and learn how this works
- Venmo and Bitcoin are not the same
- Bitcoin derives none of its value from being easy to send
- Bitcoin is valuable because it's a non-government currency
- Blockstream's Green money app