
Unmasking cryptocurrency from both a financial and technological standpoint
The David McWilliams Podcast
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Cryptocurrency
The cost of getting involved in this stuff is actually reasonably modest vis-a-vis what would happen when the cost of money and the credit cycle turns. Nissim Taleb referred to Bitcoin as a tumor of zero interest rate environment. This kind of metastasized out of the cheap abundance of money, which has nowhere else to go. If interest rates go back down, there's no reason that there won't be a lot of more speculative cash sloshing around looking for some place to go.
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