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Factors driving the adoption of Bitcoin
The chapter discusses potential factors that could drive the adoption of Bitcoin as a new form of money worldwide. It explores Bitcoin's success so far, its volatility as a challenge for adoption, and the multi-decade process of adopting monetary technologies. The chapter also mentions the preference for stablecoins in some developing countries and the potential disruption of the current system as Bitcoin becomes more adopted.
In the part two of a two-part discussion with Preston Pysh and Lyn Alden, they talk about the merging of a credit based money ledger system with a commodity backed money system into a single new technology, which is Bitcoin.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
01:22 - Why money has been at the crux of global conflict since time immemorial.
16:08 - Why can't a government entity just fire-up 20,000 nodes and try to fork the code?
33:41 - Lyn's thoughts on Gresham's law and Bitcoin.
41:23 - What would a bitcoin would look like with no unit abstraction?
47:13 - How do Taxes change in a bitcoin world?
49:04 - Does Bitcoin need smart contracting to compete with other protocols?
57:43 - Why couldn't Adam Back improve the Bitcoin code?
01:02:25 - The privacy trade-off is something that many want, what is Lyn's point of view?
01:06:02 - What is the fundamental trade-off between PoW and PoS?
01:06:02 - Lyn's discussion of volatile vs non-volatile computer memory when trying to understand PoS and PoW.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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