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#26: Erik Townsend On The Intersection Of Distributed Ledger Technology And Global Macro Investing

Superinvestors and the Art of Worldly Wisdom

CHAPTER

The Fallacy of Cryptocurrency

The value of Bitcoin is formed by the electricity that goes into the proof of work algorithm. That's an inherent shortcoming in this first incarnation of distributed ledger technology, he says. "A cryptocurrency token is just like a fiat currency, but it lacks that government decree"

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