Knowing why cryptocurrency was conceived is more valuable than knowing how the blockchain works. If you understand the insidious problem that Bitcoin as the first cryptocurrency was designed to solve, you’ll be much better positioned to ride the waves of change it is creating. The reason why is that you’ll have a much greater appreciation for the implications it has for the global financial sector.
In the second episode of their series on crypto, Ryan and Terry go back to first principles in order to get to the bottom of what money is, why why crypto is here, and what it might mean for all of us.
What you'll learn:
- What money is and how it works (or doesn't work)
- How 'stock to flow' explains whether or not money functions as a store of value (and what happens when it doesn't)
- Who's at fault for the problems created by Fiat currency and how Bitcoin seeks to solve the problem.
Resources:
- Book: The Bitcoin Standard by Saifedean Ammous
- Book: The Bullish Case for Bitcoin by Vijay Boypati
- Website: WTF happened in 1971
- Lecture: Hard money and time preference: Lecture at the Property & Freedom Society
- Essay: Shelling Out - The Origins of Money by Nick Szabo
- Podcast: Why Bitcoin now, Niall Ferguson on how BTC fits in the history of money
- Youtube Video: Our most brilliant idea
- Podcast: The philosophy of Bitcoin and how it could change the world as we know it
- The Ultimate Crypto Resource Library
