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The Importance of Risk in the Global Banking System
All deposits of all banks in the United States are guaranteed. If you can have international banks fail, those international banks can bring down your domestic banks. And once you're at that point, it's like, okay, now we've nationalized the global banking system. So what is a rational actor doing in that scenario? They seek out risk.
David Bailey and Preston Pysh get into an in-depth conversation about the GBTC Bitcoin Trust and all of the issues it's had over the past year and a half.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
01:29 - What backs Bitcoin?
10:27 - CBDCs and what happens next.
13:14 - FedNow and what happens after it's launch.
18:43 - The actual impact of picking winners and losers for decades on end.
20:14 - The Skull of Satoshi.
29:43 - What it's like building a Bitcoin media company as an entrepreneur.
29:43 - Growing the Bitcoin Conference.
45:32 - GBTC and the campaign for shareholders to redeem the Bitcoin in the trust.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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