114. Why Bitcoin Changes Accounting with Darin Feinstein
The Bitcoin Standard Podcast
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The Custodianship of Money
Up until two thousand eight you could never trust another person to accurate tell you if they received the value or not. Wee wanted those third party verification systems turned into the systems that approved the transactions between two parties. And so banks popped up all over. People would send them value. They would they would record the transactions and charge a fief. The next line of banks was this, sipe sent a million dollars to the bank. They confirmed that he sent it. They confirmed my value as there. And now that transaction just culminated. And the bank says to me, we're going to send you a million dollar to your hut. Now what happens? Well, bickling happens.
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