#484: Nik Bhatia on Counterparty Free Money

The Pomp Podcast

Anthony Pompliano

Business, Investing

4.8 • 1.9K Ratings

🗓️ 3 February 2021

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Nik Bhatia is the author of the new book, Layered Money. He is an Adjunct Professor of Finance and Business Economics at USC Marshall. In this conversation, we discuss an overview of the monetary system, layered money, the recent OCC ruling, coexistence between bitcoin and CBDCs, and counterparty free money. ======================= The Stacks 2.0 mainnet launched on January 14, 2021. Stacks, which you may recognize as Blockstack, is a layer-1 blockchain that uses the Bitcoin blockchain as a secure base-layer and enables developers to harness its power in new ways. Stacks makes Bitcoin more than digital gold, enabling apps and smart contracts on Bitcoin--unlocking innovation, new value, and a new way to earn BTC. Visit http://www.stacks.co for more information. ======================= Coinbase Wallets are adding support for .crypto and .zil domains through their partnership with Unstoppable Domains. Unstoppable Domains provides an all-in-one solution for blockchain domains. You can send money using these new domains instead of long Bitcoin wallet addresses, while also storing your domain in Coinbase's collectibles section. Go to unstoppabledomains.com in the dapp browser to register and manage your domains. ======================= As one of the largest and oldest Bitcoin exchanges in the world, Kraken is consistently named one of the best places to buy and sell crypto online, thanks to our excellent service, low fees, versatile funding options and rigorous security standards -- but this is only part of the story. We’ve been on the forefront of the blockchain revolution since 2011: http://www.kraken.com =======================

Transcript

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0:00.0	What's up, everyone? This is Anthony Pompliano. Most of you know me as Pomp. You're listening to the Pomp podcast, simply the best podcast out there. Let's kick this thing off.
0:09.6	Nick Batia is the author of the new book, Layered Money. He is an adjunct professor of finance and business economics at USC Marshall.
0:18.4	In this conversation, we discuss an overview of the monetary system, layered
0:22.7	money, the recent OCC ruling, coexistence between Bitcoin and Central Bank digital
0:27.8	currencies, and counter-party free money. I really enjoyed this conversation with Nick,
0:33.2	and I think you will as well. Before we get into this episode, though, I want to quickly talk about our sponsors.
0:39.1	First up is Blockstack.
0:41.1	Apps and smart contracts are coming to Bitcoin, along with a brand new way to earn Bitcoin.
0:46.2	Stacks 2.0 will give developers powerful new tools, including a smart contract language called
0:51.3	Clarity that was made for Bitcoin and jointly developed with Al-Grant,
0:54.9	as well as a new consensus mechanism that rewards the network with both Stacks tokens and Bitcoin.
1:00.5	Stacks, which you may recognize as Blockstack, unlocks new use cases and functionality for the world's
1:05.7	most secure blockchain Bitcoin without modifying Bitcoin itself.
1:09.6	The door for developers and entrepreneurs to activate the billions of dollars of capital
1:13.3	currently passively held on Bitcoin are now wide open.
1:16.8	Proof of transfer, or POX, is the groundbreaking consensus mechanism that makes this all possible.
1:23.2	POX connects the stacks blockchain to Bitcoin, opening up STX mining on the network and enabling stacking where STX holders can earn regular Bitcoin rewards for supporting consensus.
1:33.4	Stacks, apps and smart contracts on Bitcoin.
1:36.5	You can visit Stacks.C.O for more information.
1:40.3	Again, apps and smart contracts on Bitcoin, visit Stax.C.O for more information.
1:47.5	Next up is Unstoppable Domains. They're solving the number one problem, human readable domains.
1:53.9	Rather than having to send money to any sort of long string of random numbers and letters,
	...

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