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The "What is Money?" Show

Bitcoin Threat Vectors | The Weinstein Series | Episode 2 (WiM086)

The "What is Money?" Show

Robert Breedlove

Bitcoin, Breedlove, What Is Money, Investing, Rabbit Hole, Cryptocurrency, Money, Finance, Education, Robert Breedlove, History

4.8710 Ratings

🗓️ 7 December 2021

⏱️ 65 minutes

🧾️ Download transcript

Summary

Eric Weinstein joins me for a multi-episode conversation covering mathematics, physics, history, politics, economics, and money.

Transcript

Click on a timestamp to play from that location

0:00.0

So Bitcoin mining and Bitcoin more generally, but mining specifically has established this energetic bridge between physical reality and digital, or I think as you call it,

0:24.4

logical reality, which was a real breakthrough.

0:27.7

We never had anything like this before.

0:32.4

Maybe another way to say that is that we Satoshi innovated a way to bring scarcity into digital space, which is something

0:41.9

that didn't exist before.

0:44.7

So the abundance problem where everyone else was trying to create abundance.

0:49.2

And abundance is the great killer.

0:52.2

So he figured out how to get scarcity, which is one of the key features

0:57.2

of the physical world. And you may think that you want abundance, but then you have to ask

1:01.5

yourself the question, if I was actually living in an abundant world, but I hate every day of my

1:06.6

existence. An interesting question. That might be a point you and I diverge on, but I'm sure we'll

1:12.6

get into you. The way that I think about it is that so long as money is producible, there's a big

1:22.0

incentive to go into that line of business to try and print your own money, basically.

1:26.9

Yeah.

1:27.4

Erego central banking. But if print your own money basically. Yeah. Ergo central banking.

1:29.3

But if money is counterfeiting.

1:31.3

Yeah.

1:32.3

Counterfeiting.

1:33.3

If money is not, uh,

1:35.3

producible or counterfeitable, then all of a sudden you have to direct your

1:39.3

productive energies towards goods, services, knowledge, anything but money, frankly. So I think the scarcity of money,

1:46.5

the high assurance or credibility of scarcity and money actually channels the energy of human

...

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