SOB: Where Does Bitcoin Fit in the Global Reserve Currency Game?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 17 October 2020
⏱️ 38 minutes
🧾️ Download transcript
Summary
On this “Speaking of Bitcoin” episode, join hosts Adam B. Levine, Andreas M. Antonopoulos, Stephanie Murphy, and Jonathan Mohan for a look at the past, present and future of global reserve currencies
This episode is sponsored by Crypto.com, Nexo.io and Elliptic
In the beginning (way back in 2009) there was the global reserve currency (U.S. dollars,) national currencies like the Japanese Yen, alternative currencies like Ithaca hours and just one cryptocurrency, Bitcoin.
But what a difference a decade can make, today there are thousands of cryptocurrencies, many created by enthusiasts who have ideas on how to make something even better than bitcoin, but also currencies that use some of the technology that makes Bitcoin so powerful, but which pairs it with the authority of a national government, like the Digital Yuan in China, the Digital Euro out of Brussels, or even a globe-spanning corporation with billions of customers like the Libra, backed by Facebook.
In this emerging picture, is bitcoin still interesting? First attempts at new technologies, even when successful at introducing a powerful new idea, are often not the ones which eventually succeeds in changing everything. And importantly, as the world changes and we get closer to something other than the dollar standard, where does bitcoin fit?
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Transcript
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| 0:49.3 | This is a signal that the world is anticipating the end of the reserve currency era and trying to find |
| 0:58.6 | all possible options to hedge against the risk and the turmoil that will be created in global |
| 1:04.0 | trading as it becomes more and more difficult to continue to use the US dollar because of the |
| 1:09.6 | way the US government has exercised its power there. |
| 1:16.5 | Hey folks, on today's episode we'll be discussing a simple but critically important topic. |
| 1:21.4 | In the beginning, way back in 2009, there were traditional currencies like the dollar, |
| 1:25.5 | alternative or community currencies like Ithaca ours, and just one cryptocurrency, Bitcoin. |
| 1:31.6 | But what a difference a decade can make? |
| 1:33.8 | Today there are thousands of cryptocurrencies, many created by enthusiasts who have ideas |
| 1:38.0 | on how to make something even better than Bitcoin. |
| 1:40.4 | But also currencies that use some of the technology that makes Bitcoin so powerful, |
| 1:45.3 | but pair it with the authority of a national government, like the digital yuan in China, or even a globe-spanning |
... |
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