6min chapter

Tom Bilyeu's Impact Theory cover image

How To Prepare For The GLOBAL RECESSION & Build Wealth In The Process! | Raoul Pal

Tom Bilyeu's Impact Theory

CHAPTER

Bitcoin

The world has a history of money, whether it's backed by gold or not, where government gets themselves excessively into debt and they devalue the money. The Romans used to clip the edge of the coins, so there was less gold in each coin. And eventually people would lose faith in the coins because they blend them with silver and then blend them with copper. That's what currency debasement is. So Bitcoin comes along in 2008 in the middle of the crisis. It's kind of like it was perfectly prepared for this and said Satoshi goes, Hey, look at this. I can create an algorithm that only creates so much of this thing, the Bitcoin, and it can never vary

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