BTC010: Bitcoin & Layered Money w/ Nik Bhatia (Bitcoin Podcast)
The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network
Stig Brodersen
4.6 • 3.6K Ratings
🗓️ 27 January 2021
⏱️ 74 minutes
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| 0:00.0 | You're listening to TIP. |
| 0:30.0 | And so I'm really excited to be able to bring him onto the show to explore some of the thoughts and ideas that he presented there. |
| 0:35.0 | So without further delay, here's my interview with Nick. |
| 0:38.0 | You're listening to Bitcoin Fundamentals by the Investors Podcast Network. |
| 0:46.0 | Now for your host, Preston Pish. |
| 1:00.0 | All right. Hey, everyone. Welcome to the show. I got Nick Bautier here with me. And Nick, I'm just going to start off by saying, |
| 1:07.0 | read your book. I absolutely loved this book. And I know people that might follow me on Twitter can see that I've been talking about it. |
| 1:16.0 | You crushed this thing. And it is laid out in such a thoughtful way. |
| 1:21.0 | It's concise where it needs to be concise. You go into detail. You provide so much historical context for how we arrived at where we're at. |
| 1:29.0 | I was learning a ton through this book. Bravo. That's all I can say and welcome to the show. |
| 1:35.0 | Thanks a lot for having me, Preston. And thanks for your kind words about the book. |
| 1:39.0 | So Nick, this is where I want to start because anybody who's written a book knows that if you want to learn a subject, just start writing a book about it. |
| 1:47.0 | And there's a lot of learning for the author that takes place when you're writing a book. |
| 1:51.0 | So the thing I want to start off with is when you're writing your book, layered money, what was the thing that when you look back at that experience that you're saying, wow, that's not maybe something that I expected to uncover or something that you're trying to do. |
| 2:04.0 | Or something that you just really kind of remember about the experience that you kind of like had an aha moment or something like that. |
| 2:12.0 | Well, I've wanted to write a book about Bitcoin for about two years now, two to three years. |
| 2:19.0 | But the aha moment came when I read an economic professor's paper, the paper is titled the inherent hierarchy of money by professor Perry Mourling, he's an economics professor at Boston University. |
| 2:35.0 | And when I read his paper, I realized that Bitcoin was going to be the first layer of money in the future in the same vein as this paper that this professor had written. |
| 2:51.0 | And in that paper, gold was in the framework, the first layer of money. And the paper was a theoretical framework for how money works and how a credit money system works. |
| 3:06.0 | And I just saw Bitcoin in that role and I had already concluded that Bitcoin was digital gold. And I knew that the book would require a history of gold itself. But when I saw Bitcoin at the top of the hierarchy of money in the future, that was the moment when layered money started to come together as a story. |
| 3:30.0 | That was at the end of 2019. So just over a year ago. |
| 3:35.0 | Here's the part that I loved about this is you go into just this financial history and really explain how just current season evolved on top of this and you talk about how this layer of money starts getting stacked on top of gold. |
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