Should I Invest In BitCoin? And, More Commentary on Last Week

Conversations That Matter

Jon Harris

Society & Culture

4.6 • 1K Ratings

🗓️ 14 January 2021

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

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Jimmy Song's Website: programmingbitcoin.com

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Transcript

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0:00.0	Welcome to another edition of the Conversations That Matter Podcast. My name is John Harris. I am pleased to have a guest with me today who's going to help us navigate a topic that's been around for a while, but it's becoming more popular now and that is Bitcoin we have Jimmy's
0:14.2	song with us he's a programmer he's written two books programming Bitcoin the
0:20.1	little Bitcoin book and he's contributed to a Christian book called
0:23.8	thank God for Bitcoin. I've gotten a few chapters into that and you can find
0:28.6	his material at programming Bitcoin.com. Jimmy thank you for stopping by and being willing to explain this to us.
0:35.0	Oh, thanks for having me.
0:37.0	It's a pleasure to be on.
0:38.5	I've been a fan of yours for a while, so glad to be on the show.
0:42.0	Well, that is very kind of you to say that.
0:44.5	I want to start off just with a basic question
0:47.6	for all the listeners out there to hear you answer.
0:50.8	And that is, what's wrong with traditional investments, land, money, I mean really we're coming back to money.
1:00.1	You know if you're a have 10 million dollars you know aren't you pretty secure for the future what's the problem with that thinking?
1:06.9	Yeah, the unfortunate reality of the current monetary system is that
1:15.1	if you have the US dollar or the Japanese and the euro or something like that it's essentially a melting ice cube is
1:20.3	how I would describe it it's constantly being debased by all of the money printing
1:25.1	that's going on.
1:26.6	It used to be that the dollar was convertible to gold.
1:29.3	In fact, every currency in the world at one point
1:31.9	was convertible to gold. But starting in 1971, that tie to gold was severed by Richard Nixon in 1971 with sort of an executive order.
1:44.3	As a result of that, whenever any central bank can essentially expand the money supply
1:51.5	to their hearts content, and that means that you know your savings in
	...

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