The Future of Bitcoin Banking with Bill Barhydt - WBD472
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 8 March 2022
⏱️ 69 minutes
🧾️ Download transcript
Summary
Bill Barhydt is the CEO and Founder of Abra. In this interview, we discuss institutional investment, the long term debt cycle, the end of fractional reserve banking and how Bill gave away thousands of Bitcoin.
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The current banking system is broken. Millions of people around the world still don't have access to proper banking services, the payment rails that facilitate transactions are old and costly, and trust in financial institutions is low.
To add to this, currencies around the world are being debased at a rapid pace. Over the last few years, central banks have printed huge amounts of money that is now showing up in inflation, which has a disproportionate impact on the poorest in society. 50% of Americans now have more credit card debt than savings.
Bitcoin started as a cypherpunk experiment, but its sound monetary properties have led to it becoming a real lifeboat for those who are economically adrift. With the banks losing momentum, is Bitcoin mature enough to take up the slack?
However, you see the future of money and banking - one thing is clear Bitcoin will play a role. The question is, how big will that role be?
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Transcript
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| 0:00.0 | All those bankers we just talked about would laugh at this conversation because they would say, |
| 0:12.0 | what the fuck are fucking talking about. |
| 0:14.0 | Bitcoin standard. |
| 0:15.0 | Bitcoin is a joke. |
| 0:16.0 | It's like buying Facebook stock and 15 years ago, you know, |
| 0:20.0 | it's going up in price so I'm going to make some money. |
| 0:21.0 | What are you guys talking about with Bitcoin Banking? |
| 0:23.6 | Hello there, how are you doing? Welcome to the What Bitcoin did podcast, which is brought to you by |
| 0:29.0 | Gemini, the only place I am using for buying Bitcoin. I'm your host Pete McCormack and before we get |
| 0:34.7 | into the interview today I have a quick message from my show sponsors. This show is brought to you |
| 0:40.9 | by Compass Mining. |
| 0:42.6 | And they are not just a sponsor. |
| 0:44.3 | I am a customer of Compass Mining. |
| 0:46.1 | I am Mining with Compass Mining. |
| 0:47.9 | Now I've been doing this for about, what is it, |
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