No Escape from Bitcoin's Gravity with Nik Bhatia
In this interview, I am joined by Nik Bhatia to discuss his book Layered Money, where Bitcoin fits in the monetary system, the history of government control over money and central bank digital currencies. 00:04:52 Introductions 00:05:23 Nik's book, "Layered Money" 00:09:50 The concept of layered money 00:14:46 The history of money 00:17:35 Why gold was used for coins 00:19:05 The Gold Florin 00:21:52 The Antwerp Bourse 00:25:48 First government involvement in "money" 00:26:47 Founding of the Bank of England 00:28:45 The original "pound sterling" 00:32:34 The conversion to the pound note 00:34:24 Instability of South American currencies 00:35:31 The American "Greenback" 00:38:40 Governmental control over money 00:42:42 Bitcoin's scarcity characteristic 00:45:22 Bitcoin vs gold 00:51:48 Central bank digital currencies 00:56:36 Bitcoin's volatility 01:01:04 Secondary consequences of involvement in Bitcoin 01:04:29 The Lightning Network and HTLCs 01:11:09 CBDCs versus Bitcoin 01:17:13 Bitcoin's time has arrived 01:20:27 Final comments WHERE TO FIND THE SHOW → My website: https://www.whatbitcoindid.com/podcast/ → iTunes: https://apple.co/2OOlzVV → Spotify: https://spoti.fi/2ygc4W1 → Stitcher: https://bit.ly/2IQO8fX → SoundCloud: https://bit.ly/2CGSVQR → YouTube: https://bit.ly/2pR3s3g → TuneIn: https://bit.ly/2ywystr LISTEN TO OLD EPISODES → By guest: https://www.whatbitcoindid.com/guests/ → By topic: https://www.whatbitcoindid.com/topics/ → Transcriptions: SUPPORT THE SHOW → https://www.whatbitcoindid.com/sponso... → Become a Patron: / whatbitcoindid → Subscribe on iTunes → Leave a review on iTunes → Share the show out with your friends and family on social media → Drop me a line on [email protected] WHERE TO FOLLOW ME: → Twitter: / whatbitcoindid → Medium: / whatbitcoindid → Instagram: / whatbitcoindid → Facebook: / whatbitcoindid → YouTube: / whatbitcoindid → Website: https://www.whatbitcoindid.com/ → Email list: https://www.whatbitcoindid.com/subscr... LEARN ABOUT BITCOIN & CRYPTO: → Step by Step Guide: https://www.whatbitcoindid.com/beginn... → Training: https://www.whatbitcoindid.com/training/ → Resources: https://www.whatbitcoindid.com/resour... **** “It’s just becoming clear to the smartest investors in the room, that denying Bitcoin is like denying the internet 20 years ago and it’s a mistake and you’re going to get left in the dust.” — Nik Bhatia Location: Remotely Date: Wednesday 18th November Company: USC Marshall School of Business Role: Adjunct Professor of Finance After dropping to lows of ~$4000 when markets went into freefall following the coronavirus outbreak, Bitcoin has bounced back to a near to all-time high of ~$18,500. The impact of the pandemic on the economy has been a massive increase in government borrowing and money printing. This response has highlighted the importance of scarce assets which can't be debased. Gold has historically been the safe-haven asset that money flows into during times of uncertainty. However, many are now turning to Bitcoin, and it is quickly eating into gold's market share. In a world of fiat currencies, gold and the impending rise of central bank digital currencies, where does Bitcoin fit? Nik Bhatia has written Layered Money a book looking into this that will be released early in 2021. We discuss his book, where Bitcoin fits in the monetary system, the history of government control over money and central bank digital currencies.
