Why Bitcoin is the Best Money with Lyn Alden - WBD496
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 2 May 2022
⏱️ 69 minutes
🧾️ Download transcript
Summary
Lyn Alden is a macroeconomist and investment strategist. In this interview, we discuss currency crises, the history of money, the properties of good money, and whether Bitcoin can usher in a new era of programmable, commodity money.
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What is money? We are taught to critically question and evaluate the world around us. Yet, most people never query the essence of what is perhaps civilisation's most important tool. We readily accept the money we have and use it without examining its history, characteristics, or whether it could be improved and changed.
We are living through extraordinary times. The world around us is in flux: established norms are being upended. Yet, the most extraordinary change is occurring without, arguably, the fanfare it deserves. Money is changing. A viable alternative to fiat currency has taken hold. An open and free, censorship-resistant currency available to anyone with qualities that surpass previous forms of money is carving out its place as the future of money.
Coins and notes are examples of money we are all familiar with. Yet, shares, property, or in fact, any tradable item are also forms of money. We interact with various forms of money, and implicity utilise their attributes without proper examination. So, what are the qualities and features of money? Why do we use different forms of money? What is money?
It is only through proper consideration of these questions that the unique and revolutionary properties of Bitcoin become apparent. Bitcoin is much more than just a speculative digital asset. It seeks to be the best money ever invented, combining the benefits of gold, cash, and various contemporary stores of value.
More importantly, Bitcoin provides new features seeking to protect the individual in the digital age. Bitcoin may be much more than a useful tool, it could be a necessity.
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Transcript
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| 0:00.0 | All of these monot trade transitions involve people that could think of the unthinkable and that could look past how this |
| 0:14.7 | system currently is and envision if you start with a blank sheet of paper how could |
| 0:19.0 | it be what you know what are the alternative kind of timelines we could be under. |
| 0:24.0 | Hello there how are you doing welcome to the what Bitcoin did podcast which is brought to you |
| 0:28.8 | by Gemini the only place I am using for buying Bitcoin I'm your host Peter 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 |
| 0:40.1 | you by Sports Bear. I. The very best place for online gaming because they're |
| 0:44.1 | badasses and they accept Bitcoin. Now we are over halfway through the season. |
| 0:48.8 | Liverpool has just picked up their first trophy. Tottenham is struggling as ever. This season is going as planned. |
| 0:55.1 | But how's it going to finish? Do you know how it's going to finish? Will Liverpool win the title? |
| 0:59.2 | Will they snatch it away from City? Who's going to win the league? Who's going to win the |
| 1:02.3 | Champions League? who knows? |
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| 1:28.0 | Next up it is compass mining and they are not just a sponsor. |
| 1:32.0 | I am a customer of compass mining. I am mining |
| 1:35.0 | with compass mining. Now I've been doing this for about, what is it, four months now and |
| 1:39.8 | I've mined over half a Bitcoin with them. It's pretty cool. It's very cool actually. I love |
| 1:44.1 | the fact that I'm back mining and I also love the way Compass does this. They've |
| 1:48.0 | made mining accessible to everyone and as a Bitcoiner I'm happy to be supporting the decentralized growth of the hash |
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