Bitcoin is Reshaping the World with Robert Breedlove - WBD220
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 5 May 2020
⏱️ 81 minutes
🧾️ Download transcript
Summary
Location: Zoom Date: Monday 4th May Project: Parallax Digital Role: Founder & CEO
The properties for measuring the soundness of money include divisibility, durability, portability, recognisability and scarcity. Current government-issued and controlled fiat money fit some of these characteristics but, with the central bank's ability to print money at will, the current system completely fails as a scarce resource.
Historically metals have been the best form of money, with gold outcompeting all other metals to become the number one metal used as a currency and store of value. It is durable, recognisable and scarce; however, government-issued fiat became a better form of cash as it is more portable and divisible. Since 1971, when the US came off the gold standard, and the government has been able to issue more fiat, the purchasing power of the dollar has fallen. As such, gold has proven to be a better store of wealth than fiat.
Many see Bitcoin as digital gold with the added benefits of being highly divisible and able to be sent anywhere in the world quickly and at low cost. Bitcoin also offers censorship resistance, immutability and the ability to store wealth out of the reach of the government.
Bitcoin is a new paradigm in money.
In this interview, I talk to Robert Breedlove the Founder and CEO of Parallax Digital. Robert recently wrote An Open Letter to Ray Dalio explaining how Bitcoin will reshape the world. We discuss Bitcoin's ability to outcompete the current financial system.
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Transcript
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| 0:00.0 | Bitcoin as the truest form of monetary capitalism is going to out-compete |
| 0:06.4 | monetary socialism which is central banking. |
| 0:08.6 | Hello there, how are you all? |
| 0:10.6 | Welcome to the What Bitcoin did podcast which is brought to you by the mighty |
| 0:13.8 | Cracken, the best place to buy, sell and trade Bitcoin. I'm your host Peter McCormack, and today I've got an interview |
| 0:19.4 | with Robert Breedlove discussing how Bitcoin is reshaping the world. But before that I have a message |
| 0:25.0 | from my amazing sponsors. So first up we've got crypto mining tools back on the show and with |
| 0:30.0 | the halving only days away, Scott is back. |
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